The EQrated vol. 19
Hello Reader,
In case you hadn't heard, there is a shortage of skilled employees in the workplace. The nature of work was already changing, with the increased adoption of digital technologies. This evolution was especially felt in the Hospitality, Retail and Customer Service industries. Many people feared losing their jobs to automation and artificial intelligence. And then came the pandemic, which exacerbated the problem. Suddenly the focus shifted from jobs being made obsolete by AI, to jobs being eliminated altogether.
According to the World Economic Forum’s latest Future of Jobs Report, half of all employees around the world will need reskilling by 2025. Another study by the McKinsey Global Institute estimated that as many as 375 million workers—or 14 % of the global workforce—would have to switch occupations or acquire new skills by 2030 because of automation and artificial intelligence. These are sobering numbers. While some employees used the pandemic as an opportunity to re-evaluate their current jobs and upskill, many others did not have the freedom to do so. What that means is that the skills gap keeps widening.
In the past few volumes of EQrated, we have delved into the vicious cycle of recruit-onboard-train-retain-REPEAT. As we wrap up this series, I had a couple of thoughts. First, when things get rough, training budgets are the first to get slashed. Training is considered a discretionary expense, not an investment. Even the most progressive organizations have a hard time making the case for a robust learning & development program.
Second, while it can be difficult to maintain a skilled workforce, it is one of the most valuable resources that an organization has. But it is also the most volatile. People come and people go. Many organizations do not (or cannot afford to) take a long-term approach to employee training & onboarding. And this lack of vision continues to perpetuate the frustrating hiring cycle.
Finally, the single-most proactive thing an employee can do is to invest in their skills and adopt a "continuous learning" attitude. And the single-most empowering thing an employer can do is to build a culture that enables this attitude.
As usual here's your bi-weekly EQrated list of resources on TRAINING & COACHING:
Give Up Bossing, Take Up Coaching: You'll Like the Results - Are you a Boss? Or are you a Coach? What's the difference anyway? According to Gallup, great managers are completely different from adequate ones. In brief, they're not bosses. Rather, they are coaches. Learn more about the three key ways in which Coaches are different from Bosses. Source: Gallup
To emerge stronger from the COVID-19 crisis, companies should start reskilling their workforces now - Adapting employees’ skills and roles to the post-pandemic ways of working will be crucial to building operating-model resilience. Read this article for six practical steps leaders can take to ensure that their employees are equipped with the skills critical to their recovery business models. Source: McKinsey & Company
Continuing Employee Development in the Face of Budget Cuts - COVID-19 reductions don’t have to mean that employees stop learning. Now is a great time to offer professional development because of the changed pace of business. It can be a time to regroup, refocus, and do training that will make your company stronger. Source: Financial Management
The Importance of Continuous Learning in the Workplace - Continuous learning is more than just a buzzword. It’s a necessity for companies of all shapes and sizes. As technological advances continue to change the nature of work at an astonishing pace, companies across all industries must rely on their ability to learn and adapt quickly. Click to read about the importance of continuous learning in the workplace. Source: Tallo.com
If there is a topic that you would like to see featured in The EQrated, please let me know at stef@yourturnsolutions.com. Please feel free to share this Newsletter with people you know who might find value in it! They can also subscribe to the EQrated by clicking the button below.
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See you in a couple of weeks!
Ciao,
Stef
Hi, I’m a creator
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