Why upskilling and reskilling are so important now

If the words “upskill and reskill” are bantered about by executives in your organization, that’s a big opportunity for you to demonstrate your value. And if they’re not, they should be. According to LinkedIn Learning’s Workplace Learning Report, the ability for L&D leaders to identify, assess, and close skills gaps topped the L&D priority list.

Here are some fast facts.

• The World Economic Forum estimates we will need to reskill more than 1 billion people by 2030

• On average, the shelf life of a skill is less than 5 years.

• Soft skills have been identified as the Skills of the Future and are growing in importance. They transcend individual jobs and cannot be replaced by automation, digitization, and artificial intelligence.

Leverage this situation to demonstrate your value

How can you leverage this situation to demonstrate your value? Competency models identify what the organization needs people in a particular role to do in order for the organization to succeed and create competitive advantage. They intrinsically motivate people to mastery, ensure people remain relevant as skills change, and provide each person with a road map for how to be great. If the competency models define the required skills, then you need to make sure you have, or create, competency-based learning to close the gaps.

Rewatch our free webinar to learn how to:
• Create a thriving competency-based learning initiative
• Identify, assess, and close skill gaps
• Recognize what type of competency-based learning works to build skills of the future
• Help employees learn how to learn