Why Upskilling in Today’s World Matters More Than Ever

Steve Goldberg
Steve Goldberg
Apr 01 2024
3 min read
Why Upskilling in Today's World Matters More Than Ever

We’re navigating a world where technology evolves at breakneck speed, and the old ways of developing our teams just can’t keep up. Through my journey in HR, HCM, and HR Tech, and diving deep into how AI and Gen AI shake up the Human Capital Management (HCM) scene, one thing has become crystal clear: upskilling isn’t just a nice-to-have; it’s a must-have if we want to stay ahead in the digital game.

Merging AI with Workforce Growth

When AI meets workforce development—predicting which skills will soon be in demand, figuring out how quickly we can learn these new skills, and deciding whether to hire new talent or level up our existing team—it paints a strategic roadmap for smart talent management. Prioritizing upskilling is a smart move, aligning perfectly with what businesses need today.

Two Big Reasons to Upskill: Staying Agile and Boosting Your Brand

Upskilling is all about staying agile and making your company a place where people want to work. Research from Accenture shows that agile companies are more than twice as likely to be top financial performers. What’s more, findings from the Massachusetts Institute of Technology (MIT) reveal that agile organizations grow their revenue 37% faster and earn 30% higher profits than their less agile peers. This makes a strong case for building a culture that loves learning.

Plus, investing in your team’s growth doesn’t just keep them around longer; it makes your company more attractive to potential talent. A survey found that 94% of employees would stick with a company longer if it invested in their learning journey. LinkedIn Learning data backs this up, showing that companies good at helping their team grow internally keep their people nearly twice as long as those that don’t.

The Road to Upskilling

In today’s tech-driven world, having a team ready to adapt and thrive through change is non-negotiable. Upskilling and reskilling become key to sparking employee engagement and lifting productivity, highlighting the need for a culture that puts learning front and center. This not only keeps the team nimble and engaged but also ramps up productivity, setting everyone up to face current challenges and whatever comes next with confidence.

Making the Commitment

Getting to a point where your workforce can navigate and lead through today’s complex business environment starts with a commitment to upskilling. As we unlock the possibilities AI and tech innovations bring, our focus should remain on empowering our greatest asset—our people—with ongoing opportunities to learn and grow.

Committing to upskilling goes beyond just responding to the fast pace of tech; it’s about strategically positioning your organization to be agile and recognized as a top employer. By adopting upskilling, businesses can ensure continuity, maintain a competitive edge, and foster a highly productive team, creating substantial value and driving better business results. The proof is in the pudding—or rather, in the research and real-world examples underscoring upskilling’s vital role in today’s workforce.

Steve Goldberg
Steve Goldberg
Steve Goldberg's 30+ year career on all sides of HR process and technology includes HR exec roles on three continents, leading HCM product strategy at PeopleSoft, founding boutique recruiting tech and change management firms and serving as HCM practice leader at Bersin and Ventana Research. He holds an MBA in HR, is widely published, and is recognized as a Top 100 HR Tech Influencer.

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