Skill development is a game changer that affects workplace productivity. The business world has been in a constant state of flux. Staying agile and keeping pace with the changes in the economy through constant upskilling is crucial to be competitive and future-ready.
L&D professionals worldwide are tapping into various digital technologies to ensure that skill development is aligned with their business objectives. 79% of L&D professionals expect organizations to spend more on digital platforms.
The importance of skill development in an organization
According to a study by McKinsey, 87% of companies say they have skill gaps or expect them within a few years.
Skill development empowers employees with the knowledge and capabilities they need to stay agile and deliver satisfactory performance consistently.
Here is how skill development can be beneficial for your organization:
- Keep pace with the changing skills in your industries and expand the skillset
- Help the workforce adapt to new technologies
- Experience higher levels of workforce productivity
- Help employees accomplish more tasks in less time with better results
- Maintain quality consistency by disseminating the same information to all employees
- Reduces risk of losing employees due to lack of development opportunities
- Gain a competitive edge with stellar employee performance
- Direct employees on the path of growth and increase job satisfaction
- Attract more talents by creating a reputation of being an employee-centric organization
- Supports internal mobility and gives the employee the opportunities to advance in their career within the company
Harnessing the power of digital technology for skill development
Digital technology made remote work possible. The same digital platform can be used to speed up skilling. The right digital technology fits into the employees’ work schedule and facilitates on-the-job training. Digital technology helps scale skill development regardless of whether employees are working from the home, office or in a hybrid work environment.
An AI drive digital learning technology helps you take skilling to the next level by helping you
- Identify the right skills for every role and create a skill inventory
- Give employees visibility into their skill gap
- Create a skill-driven learning pathway
- Drive personalized learning experiences to increase engagement
- Add the element of gamification to capture employee interest
- Use the analytics to determine if learning is translating into performance
Companies worldwide are hopping on the digital bandwagon to make learning more effective and address the skill disruption. In our series “The burning questions”, Chandrani Chatterjee, Senior Vice president – L&D, HDFC Life, India, sheds light on how you can leverage digital platforms to stay ahead of the skill disruption.