Employee reskilling and upskilling training is in the spotlight. Learn how and why companies reskill and upskill their workforce and what employees think.
In late 2019, the World Economic Forum issued an alert. Lack of skills was keeping CEOs awake at night. The only way to bridge the skills gap is through upskilling or reskilling programs.
As a result, we joined forces with hiring experts Workable and Training Journal, to shed light on the current state of reskilling and upskilling training.
Our key findings include:
- 42% of companies stepped up their upskilling/reskilling efforts after the coronavirus outbreak.
- 42% of employees have pursued training on their own after the coronavirus outbreak.
- 68% of companies invest in reskilling/upskilling training to handle changes within the organization and another 65% to train employees on new technologies.
- 50% of employers target both hard and soft skills through their upskilling/reskilling initiative.
- Companies believe that employees are lacking communication/collaboration, leadership, and proactive thinking skills.
- 91% of companies and 81% of employees say upskilling/reskilling training has boosted productivity at work.
- 62% of employees hoped that reskilling and upskilling training would positively affect their job level and/or salary. However, only 33% and 35%, respectively say there’s been a significant change in compensation and growth within the company.
- 74% of employees think their managers need reskilling and upskilling training.
- 66% of employees ranked the joy of learning new things and developing new skills as the top upskilling motivator.
- 80% of employees say that upskilling/reskilling training has boosted their confidence.