Millennials are the future of the business world.
Millennials will represent 75% of the global workforce by 2025.
However, sadly the skill deficiencies in most of these millennials are affecting the health of a company. The shortage of skills leads to unsatisfactory performance, which negatively affects business profits.
It is essential to give real-time attention to these skill gaps as they are the most significant detriment to attaining business goals.
Leading organizations like Amazon and Standard Chartered are taking an interest in upskilling their employees for better performance and growth.
Amazon spent $60 million on the “upskilling” program.
Standard Chartered invests S$5million to boost talent development and reskilling.
“Skill development, speed, and scale are the three important aspects that are relevant to the present-day growth and development module.”
Filling the Millennials’ skill gap
The millennial workers are enthusiastic and willing to put in the effort. All they need is direction. Investing a little time in connecting, engaging, and upskilling millennials can help in bringing the best out of them.
So how to upskill these millennials?
Well, here are ways to fill the millennials’ skill gap.
Identify important skills required for the business
The first step is to identify the skills that the company needs to execute the business strategies effectively.
The best way of doing this is by listing out all the business objectives and mapping the technical and soft skills required to achieve them.
For example, one of the goals is to make the customer service operations completely digital. So, for that, the team needs to develop the skills for efficiently handling virtual phone systems, live chat, video conferencing, and other digital tools.
Well, not to forget that the trends related to the future of work are changing at an exponential pace. So it is pivotal to even focus on the skills that are becoming more prevalent. Moreover, the company might implement new technologies and accommodate changes to the business model, ensure that the skills needed for a smooth transition are considered.
Build a skill repository and share it with the millennials. Make it clear to the learners that the company values specific core skills that they must develop for delivering optimum performance.
Conduct skill gap analysis
According to research conducted by Gartner, 70 percent of employees have not mastered the skills they need for their jobs today.
Sadly most of the millennials are not even aware of the skills that they lack.
Conducting a skill gap analysis can help in identifying the skills that the millennials need to develop. For that, it is crucial to determine the skills that millennial workers already possess. There are several ways of finding this out, like surveys, performance reviews, skill assessment, etc. The reporting managers can be of great help in evaluating millennial workers.
The next step would be to compare the skill repository with skills the millennial workforce already possesses. The difference between those two elements will be the skill gap that you’ll be filling.
Connect with the millennials and focus on positivity
Now that you are armed with the information about the skill gaps of the millennial workforce, it is time to connect and convey it to them. However, learners can easily get discouraged when the skills they lack are highlighted to them.
So, it is important to help them visualize the lucrative path ahead in filling the skill gap. Even while choosing mentors for upskilling the millennials, it is imperative to go with ones who are upbeat, positive, and compelling.
Sharpen the sword with the right skill training for filling the millennials’ skill gap. Providing effective training is crucial for meeting the long-term goals of a business.
Build a wide array of programs and discuss it with the reporting managers to better understand the training their team requires.
Have workshops regularly for continuous skill development.
Invite outside speakers to enhance the knowledge and skills of your employees. Millennials love to learn from experts. Moreover, industry experts can acquaint the employees with new techniques and tactics that can contribute to the company’s growth.
Encourage them to attend various seminars and webinars that can help them in learning new skills.
Make sure the millennials are practicing what they learned after a session. Ask the manager to monitor the millennials’ performance constantly.
What worked today might not work tomorrow, so constantly work on improving your training programs. Conduct a survey after each training program to identify the improvement areas.
Introduce millennials to modern tools
Millennials are technologically inclined. They grew up in a time teeming with tech. So, introduce them to tools that can make upskilling and learning exciting and engaging for the millennials. Most of the tools help in identifying skill gaps and filling them. Besides, through an interactive poll, you can make learning fun for them.
One great example of an enterprise learning solution is Disprz. It is a career and skill acceleration suite that makes skill-building easy and meaningful for employees of all levels.
Bajaj Allianz, one of Disprz’s customers, needed a continuous learning culture and upskilling programs in their organization. They wanted to create personalized learning pathways for their employees to explore skills based on their proficiency. Disprz learning and growth platform has helped them address their skilling needs.
By using Disprz’s platform, the customer could create personalized learning journeys and milestones for each employee to help them grow. Besides, Disprz’s collection of courses (in partnership with content providers like Go1 and EdEx) with AI-driven recommendations, helped enhance the knowledge and skills of their employees.
An insightful platform like Disprz can help you in training and upskilling your millennial workforce while also linking their performance to business outcomes. Disprz offers a free demo so you can explore the tool to understand how it can be beneficial for your company and the millennial workforce.
All set to fill the millennials’ skill gap
Filling the millennials’ skill gap might appear like a challenging task, but it can be very beneficial for the company if approached in the right manner. Millennials with the right skills can be an asset to any company. A little guidance and the right tools can help in upskilling and improving the performance of these millennials.
Millennials are a highly educated and enthusiastic group. All they need is a little guidance to be on the right path. Organizations that focus on millennials’ growth can capitalize on their strengths and succeed.