However, there’s still a lot of uncertainty around the best approach to skill-building. 94% of workers say they would stay at their company longer if they invested in their careers and 86% of CEOs reported that launching digital training and education programs led to improvements in employee engagement.īy now, most leaders know that upskilling and reskilling will be essential in the new world of work. As a bonus, prioritizing internal mobility over external hiring comes with its own set of advantages, including improved retention and engagement. Since the pace of change is accelerating, there isn’t a single person who can afford to skip out on upskilling and reskilling.Ĭonsequently, the only way to prepare your organization for the future of work is by putting skills at the center of your strategy. And even if you manage to recruit employees with the skills you’re looking for, they’re still going to need to build new capabilities down the line. First off, today’s record-breaking labor shortage will make finding the right people exceptionally difficult. While it might sound like a simpler strategy on the surface, turning to new talent won’t solve your skill-building concerns. Given the effort upskilling and reskilling require, some might wonder if it might just be easier to prioritize external hiring. Superior approaches generally include both compelling content as part of a Learning and Development (L&D) curriculum, as well as experiential opportunities such as mentoring, projects, and gigs. There’s no denying that upskilling and reskilling initiatives require a significant investment, in both money and time.