60 percent of organizations prefer to train and redeploy existing talent over hiring new talent
Simplilearn, the digital economy training company, in partnership with People Matters, has announced the launch of a survey report on “Skill acquisition for the digital age”. The findings of the report provide insights to the strategies that L&D (Learning & Development) teams across organizations are adopting for building competencies and skills to stay relevant in the digital age.
The survey saw the participation of 102 organizations and focused on key L&D aspects such as,
- The L&D strategy
- The ability of L&D teams to deliver knowledge and skills
- Training methods for the digital age
Speaking on the launch of the report, Krishna Kumar, Founder & CEO of Simplilearn said, “Going digital is indispensable for a company’s survival today. Constant technology advancements are enforcing leaders to re-design business models to deliver better outcomes to customers. So, the joint role of L&D and business teams along with learning providers have become more critical. A strong partnership will enable organizations to tactfully address the challenges posed by digital technologies while bringing about a radical shift in employees to embrace learning for the future.”
The key findings of the report include:
STRATEGIC DECISIONS REGARDING L&D FUNCTIONS
- More than 60 percent prefer to train and redeploy existing talent, i.e. skill acquisition instead of hiring skilled talent from outside.
- The top priorities for organizations regarding L&D are:
- Instilling a “digital mind-set at the leadership level” (75 percent).
- Build collaboration as a competency (70 percent).
- Benchmarking the current skills level in the organizations which will help in streamlining future job roles (68 percent).
- The most difficult task that L&D teams face is to establish a clear link between L&D initiatives and improved business outcomes. This will continue to be a priority while investing in upskilling employees for digital disruptions.
- Interestingly, business teams are emerging as key stakeholders in deciding on domain and technology specific courses to be imparted to employees. (44 percent)
DELIVERING KNOWLEDGE & SKILLS: TRAINING PROCESSES
- Majority of the respondents feel that their L&D processes need to mature to handle the new challenges of digital disruptions. (88 percent)
- Over half of the organizations surveyed are yet to own matured L&D systems to face digital challenges.
- On evaluating employee train-ability, organizations chose “willingness to learn” as a key indicator. (67 percent)
TRAINING METHODS FOR THE DIGITAL AGE: ONLINE COURSES & CERTIFICATIONS
- Availability of online courses and certifications has increased exponentially in recent times. Organizations choose these mediums for factors such as:
- Accessibility of self-paced learning.
- Ease in integration into L&D strategy.
- Availability of updated learning content.
- Organizations are also leveraging different methods to encourage employees on their learning journey through rewards and recognition and career progression.
- Over the next 12- 18 months, Artificial Intelligence, Machine Learning, Big Data Analytics and Mobile and software development will be the top technology areas where the need for re-skilling will be highest among the organizations surveyed.
Stressing on the role of L&D in the age of digital disruption, Ester Martinez, CEO and Editor in Chief of People Matters said that “Going digital is indispensable for organizations for improving productivity, optimizing costs attached with processes and for accomplishing a better customer experience, and as this disrupts the ways of working, skilling, re-skilling and upskilling, talent becomes pivotal in setting up businesses for success. Hence, the role of Learning and Development (L&D) function is more critical than ever before in today’s world.”