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The Case for Upskilling and Reskilling

In our current labor market, the need for an impactful professional development strategy is greater than ever. There has been a growing gap between leaders’ aspirations to develop their workforce and the resources and time needed to implement an effective learning initiative. The World Economic Forum reported that the pace of digital transformation, compounded by the uncertainty of last year’s challenges, will require 97 million new jobs by 2025 to address the specific need of emerging industries, such as hospitality, manufacturing and travel.

The need for a continued focus on training is apparent. But just as no two teams share the same star players, learning needs vary between organizations. Even so, with a powerful, customizable learning management system (LMS), organizations can address current development needs and pivot as needed in the face of new challenges.

The global need for training

Though upskilling and reskilling should already be considered a best practice, the need is now critical, as it may make or break a business’s longevity. In its April 2021 report, World Economic Forum also found that a wide-scale, renewed focus on skills could create an additional 5.3 million new jobs over the next decade. It further suggested that the “long-term commitments to upskilling employees” could evolve into a core business principal so productivity doesn’t trail behind technological advancement. These findings reveal more than just a need, but a goal that should be within reach — empowered future for employees.

Leaders are taking heed of this trend. In a 2021 study from Deloitte, 72% of the surveyed executives indicated training and development were the most or second most important factors to navigate future disruptions. And while only 17% of them said their businesses were “very ready” to adapt and reskill, 41% of executives stated enhancing their workforce’s capability through upskilling, reskilling and upward momentum are among the most important actions they can take to address this mounting need.

The importance of professional development is echoed on a global scale. In LinkedIn’s 2021 Workplace Learning Report, 59% of learning and development specialists stated upskilling and reskilling was their top priority of the year, and 51% cited a worker’s internal mobility as more of a priority now than the first quarter of 2020.

With a clear and mutual understanding of what we need, a comprehensive LMS is the vehicle that helps drive us toward a solution.

The right LMS

To evaluate whether your current LMS meets the needs of your workforce, you’ll have to look at its ability to transform and adapt with your business needs. But how can you be certain which LMS is equipped to address the specific needs of your employees?

While certain factors will vary depending on the nuances of your organization, a fully functional, easy-to-use LMS will adjust to whatever requirements you may face. For example, the ideal LMS should allow you to easily and regularly train employees as well as engage them with continual professional development. Likewise, it should enable your workforce to access learning opportunities regardless of the size and location of your workforce. The right LMS also allows you to tailor training and assign courses as they align with your business’s needs and performance goals, easily and with the touch of a button. Most importantly, your LMS should be convenient for your personnel through anytime, anywhere access — such as through a self-service app.

The most exceptional LMS will go even further with a growing library of subjects and functions. For example, Paycom’s single database solution houses an LMS that delivers tailored training courses for the following industries and areas:

  • construction
  • manufacturing
  • health and safety management
  • OSHA’s Hazard Communication Standard (HazCom)
  • OSHA’s Hazardous Waste Operations and Emergency Response Standards (HAZWOPER)
  • personal protective equipment
  • transportation
  • and more, with courses available in English and Spanish

Remember, the tightening labor market and advancement of tech have placed your organization’s learning strategy at the heart of its success, making resetting your learning strategy undeniably important.

When was the last time you evaluated your upskilling and reskilling initiatives? Are you uncertain where to start? Our checklist and learning management tools can help propel your workforce into a future marked by confidence and proficiency.


DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.