In the war for talent, supply is no match for demand. We are facing a skills crisis like no other; by 2030, 65 percent of the skills that were required in most jobs in 2015 will have changed, thanks to new technologies such as AI. Organizations are in a bind not only because a significant part of their workforce is unprepared for the future of work (in other words, not adequately skilled in AI), but also because AI talent is hard to find.
One way out of the impasse is to build in-house skills through continuous learning – that is, by enabling employees to acquire AI and other digital capabilities on an ongoing basis on the job, as and when they need it. Also, the focus has to be skilling for jobs. This requires making the in- demand jobs available to employees and encouraging them to bridge the skill gaps to become fit for the demand. This offers the advantage of allowing every employee to prioritize the skills they really need on their chosen career path and learn them at their own pace without taking time off work.
With skills becoming obsolescent at increasing speed, the millennials and the Gen Z members of the workforce will need to build new capabilities in quick time, over and over again, to stay relevant. They also face the prospect of moving not just between roles but even between professions several times during their working lives. This makes training more than just a means of meeting immediate skill requirements; it is the ticket to long-term career progression.
Employees should therefore look to acquire knowledge that will secure their place in the organization in the future. For example, an application developer may want to train to become an AI ethicist a few years down the line. Product designers, in addition to improving core skills, could benefit from soft skills training in empathy and problem-solving to remain valuable to the organization even if generative AI takes over their current role.
Apart from bridging the talent deficit, investing in employee training also yields a nice payback for employers. A research report by The Association for Talent Development concluded that a comprehensive training program can increase an organization’s income per employee by as much as 218 percent and profit margin by 24 percent in comparison to organizations that do not offer such training. Further, organizations with skilled talent are more competitive and enjoy a better reputation.
To maximize the value of training, employers should design their programs thoughtfully and refresh them regularly to keep pace with changing demands. Apart from role-relevant technical and functional skills training, the training roster should include programs for developing uniquely human capabilities, such as creative thinking, innovation, and relationship-building, which are not automatable, at least in the foreseeable future. Last but not least, employee training must align with the organization’s values and business objectives. For example, a company that upholds ethical behaviour should educate employees about Responsible AI. A company can also leverage training to live its values – for instance, using continuous learning to democratize access to knowledge for every employee regardless of rank, location, educational background, or other parameter, is a powerful demonstration of inclusivity. Similarly, gender-sensitivity training can help in building a safe working environment for all employees.
While training programs are suitable for enriching functional and technical skills, mentorship is a better way to guide employees through their careers and enable personal development. Be it a work choice or a personal challenge – such as burnout, extreme stress, or isolation – a mentor can help the mentee see things clearly and move forward. Setting up a separate mentorship program is often time-consuming and do not sustainable results. Managers can be the best mentors as they are most aware of an employee’s performance and aspirations. If managers take time to create a safe space for employees to speak openly about their aspirations and concerns, it leads to better engagement and best outcome.
Drawing upon real experiences, mentors can offer lessons in areas such as relationship management or workplace behaviour that may be hard to match in a theoretical setting. The performance management conversations need to pivot from just feedback on past performance to skill development and career counselling discussions. Short, regular check-ins with managers can also help employees stay on course on their developmental journey. Just like a solid training program, a good mentor can make a lasting impact on an employee’s personal and professional growth. Mentoring can be beneficial for the managers as well, as it can serve as a developmental activity to hone leadership qualities.
Training and mentorship will together create a skilled, engaged and empowered workforce to help organizations meet their current and future talent needs.
(The authored article above has been curated exclusively for BW People publication by Sharmistha Adhya, SVP and Group Head - Organizational Development, HRD, Infosys)