By Wilhelm Crous
September 19, 2024
In the Harvard Business Review article “Designing a Successful Reskilling Programme,” researchers Jorge Tamayo, Leila Doumi, Sagar Goel, Orsolya Kovács-Ondrejkovic, and Raffaella Sadun shared insights from a study involving approximately 1,400 organisations and business leaders in the US concerning the need for, and the current state of, reskilling. With 56% of the respondents indicating active engagement in reskilling initiatives, it’s evident that reskilling has become mainstream. The researchers identified six paradigms essential for refining and managing the reskilling process:
- Reskilling as a Strategic Imperative
Companies now recognise reskilling as crucial to maintaining a competitive edge, driven by factors such as new business models, the impact of automation and AI, and the introduction of new services and product ranges. According to the survey, 60% of organisations are adopting new technologies as a primary objective, and over 60% view reskilling as vital for attracting, engaging, and retaining talent. Nearly all the companies undertake workforce planning, with about 70% doing so annually. Organisations should align their business and talent goals with their reskilling investments and identify the critical skills required to achieve their strategic objectives.
- Leadership’s Role in Reskilling
Effective reskilling requires a deep commitment from HR and acknowledgement of its strategic value across the organisation. Although 56% of organisations view reskilling primarily as an HR responsibility, only 13% involve other top managers in the design and implementation of the programmes, and just 34% have incorporated reskilling into the KPIs for managers. This indicates significant potential for a more integrated approach between HR and C-suite leaders.
- Reskilling as a Change Management Initiative
Reskilling transcends traditional training, pivoting towards continuous learning and skill-centric management. It includes support for individuals before, during, and after training. Middle management plays a pivotal role, with 70% of initiatives providing specialised training to managers overseeing reskilled personnel. This approach helps foster a supportive environment and addresses talent-hoarding challenges.
- Employee Engagement in Reskilling
About 32% of organisations struggle to motivate eligible employees to apply for and complete reskilling programmes. To improve this, companies need to develop empathetic, outcome-oriented programmes that prioritise ease of access and clear benefits, and dedicate sufficient time and resources to support effective learning for career transitions.
- Collaborative Reskilling Efforts
Reskilling is increasingly recognised as a collaborative effort within a broader ecosystem. Many organisations engage with a range of stakeholders—including external service providers, government, industry organisations, and unions—to finance, design, and deliver their programmes. Partnerships are crucial for the success of these initiatives.
- Measuring Reskilling Success
It’s essential to analyse and measure the impact of reskilling interventions. While 86% of organisations run pilots, and many track participant numbers and skill changes, only 21% perform cost-benefit analyses. Furthermore, while 42% report a positive return on investment, 56% have not measured or are unsure of the ROI from their reskilling efforts. Establishing robust measurement designs early in the pilot phase can help evaluate the effects of reskilling on skills acquisition and productivity effectively.
Reskilling strategies and learning opportunities
Participating in events like the “The Changing Role of the CLO” breakfast session can provide valuable insights into navigating the evolving landscape of L&D. Scheduled for 3 October 2024 at Ten Bompas Hotel, Rosebank, this session will discuss topics such as the role of AI in programme development and how to balance immediate and strategic L&D needs. CLICK HERE for more information.
The Learning & Development Conference from 22–24 October 2024 at Protea by Marriott Hotel, Techno Park, Stellenbosch, offers another opportunity to dive deep into reskilling strategies and learn from peers across the industry. View the agenda HERE.
Additionally, joining the KR Learning & Development Community can provide ongoing support and networking opportunities, ensuring professionals are equipped to meet the challenges of today and tomorrow. For more information CLICK HERE.
Reskilling is no longer optional but a strategic necessity that, if executed well, can enhance both organisational and employee growth, thereby improving the sustainability of the organisation. Engaging in these types of learning opportunities and communities can further enrich your understanding and application of effective reskilling strategies.
Reference:
Tamayo, J., Doumi, L., Goel, S., Kovács-Ondrejkovic, O., & Sadun, R. (2024, July 10). Designing a Successful Reskilling Program. Harvard Business Review. Retrieved from https://hbr.org/2024/07/designing-a-successful-reskilling-program.
