The digital transformation is upon us, and technology has changed the way we work, with 54% of talents seeing the need to become digitally fluent in a matter of weeks. There’s no escaping the truth: the pandemic has shifted the workplace dynamic, and with the rise of technology, there’s a rise in new skill requirements. Embracing the culture of continual learning is now, and both employers and talents alike have to adapt in order to thrive in constantly-changing market conditions.
With business leaders worldwide putting more weight on post-COVID digital strategies to stay competitive amidst the rising technological trends, skill development is sure to impact talent acquisition, vacancies for new job positions, and even retention of current talent pools. In fact, a 2020 HR survey shows that reskilling is ranked as the most crucial factor in shaping the composition of the future workforce, with a staggering 72% of respondents acknowledging its importance. On top of this, respondents anticipate that at least 35% of employees need to reskill in the next two years.
Now is the time to invest in yourself, and here are three good reasons you should reskill for the future:
1. The pandemic has sped up digital transformation and created a skill gap.
The latest technological trends have created an inescapable gap that everyone must keep up with to retain a competitive edge. Closing the skill gap in today’s tech-savvy workforce will require talents to upskill and reskill to remain relevant. In-demand skills will shift as a response to the current automation trend, which will cause the need for manual, physical, and basic cognitive skills to decline.
Several studies predict that a 55% increase in technical skills and a 24% increase in social skills are bound to become necessary in the future workforce dynamic. This is hinged on the current technological trend that underlines the likely shift to artificial intelligence and robotics as a means for businesses to handle repetitive functions that will help reduce operational costs in the long term.
In a nutshell, the jobs of the future will be defined by digital transformation, and those who reskill for technology will remain relevant. Ultimately, those that adapt will likely thrive and gear themselves toward a successful future.
2. Businesses are switching to a distributed workforce model, and talents with more transferable skills are prioritized.
The pandemic has shown that no one can predict what the future holds, and the need for an exceptionally resilient and adaptable workforce is more important now than ever before. Talent upskilling and reskilling have gained a new sense of urgency for businesses’ future success in the ongoing health and economic crisis, and ultimately being seen as vital to thriving in a post-pandemic era.
In the aftermath of the pandemic, HR leaders have been more prudent than ever in considering new hires and evaluating present employees. With limited resources at hand, every single workforce member should be a valuable asset that can contribute significantly to business success. Because of this, businesses have switched to a distributed workforce model aiming to maximize the ROI from each workforce member by analyzing and utilizing their transferable skills.
A distributed workforce training course provides an opportunity for the business to maximize their employees’ potential and, at the same time, gives them added job security by expanding their skills to different areas. Companies are redefining their L&D strategies to build a team of exceptionally resilient workforce that can strategically weather through uncertain market conditions. Individuals who choose to invest in themselves by upskilling and reskilling will make themselves more attractive as they communicate to employers that they are highly adaptable and can be valuable assets with minimal training required and thereby securing their jobs in the long run.
3. The demand for specialized skills is on the rise, and it’s rising fast.
In the digital world, tech-savvy talents have become highly desirable and essential. Reskilling in an in-demand field will increase your competency to better respond to the market’s changing needs and ultimately increase your job security. For this reason, reskilling for technology is a smart move that poses long-term benefits that everyone should embrace with resilience.
The LinkedIn 2020 Emerging Jobs Report shows a 74% annual increase in the hiring growth for Artificial Intelligence Specialist’s role in the last four years, while a 30% annual growth rate for the Cybersecurity Specialist job position was observed in the US. These statistics are a testament to the direction the digital age is taking the business world and its subsequent impact on workforce composition in all fields. Technologies like AI, robotics, big data, and the Internet of Things are helping equip businesses better to face market uncertainties with better resilience and efficiency. Individuals who possess the skills to help companies utilize these technologies to their full potential will be considered highly valuable assets to the organization.
At the end of the day, those with specialized technological skills are most likely to struggle less when finding employment in a competitive job market. Although reskilling and upskilling may seem like an intimidating mountain to journey towards, the good news is that the digital age has also extended a plethora of free and open online courses that you can use to invest in yourself and be better prepared to face the post-pandemic job market.
The time to invest in yourself is now.
At Infinity Consulting Solutions, our team of experts is ready to help you equip yourself for the future and cope with the changes in today’s workplace and technology. Contact us today and let our team of experts guide you in positioning yourself for success in a constantly growing digital era.