Upskilling, reskilling: a strategic response to the changing demand of skills

As the demand for new skills increas­es, the requal­i­fi­ca­tion and rein­force­mentof skills will allow com­pa­nies to devel­op the skills nec­es­sary to remain com­pet­i­tive. 

A skills portfolio has become the main strategic asset of an organisation and of each of their employees. 

Com­pa­nies have under­stood the impor­tance to put in place a struc­tured pol­i­cy of upskilling (or rein­force­ment) and reskilling (or requal­i­fi­ca­tion). 

Requal­i­fi­ca­tion con­sists of choos­ing new skills to devel­op, in order to meet the skills required by the com­pa­ny. 

The rein­force­ment of skills, on the oth­er hand, con­sists of giv­ing employ­ees the oppor­tu­ni­ty to attain a high­er lev­el of senior­i­ty, involv­ing train­ing and sup­port in the pro­gres­sion of their career. 

Although 75% of organ­i­sa­tions believe that skills devel­op­ment pro­grammes con­tribute to min­imis­ing the skills gap, they are slow in imple­ment­ing this due to finan­cial con­straints.  But if you don’t take action soon, your company’s abil­i­ty to attain long term goals is at risk if you don’t have access to the skills you need. 

Four out of five busi­ness lead­ers iden­ti­fied a lack of essen­tial skills amongst their employ­ees as a risk to devel­op­ment in PwC’s 22nd Annu­al Glob­al CEO sur­vey. 

The Advantages of Skills and Career Development 

The intro­duc­tion of career mobil­i­ty into your organ­i­sa­tion pro­vides many advan­tages: 

Respond to the fluidity of the talents: 

Iden­ti­fy­ing tal­ents which are already avail­able allows you to tar­get skill devel­op­ment to meet your future needs. 

Identify hidden skills: 

The career path allows your employ­ees to declare their own skills and have them assessed inter­nal­ly, reveal­ing poten­tial tal­ents that the com­pa­ny may not have been aware of. 

Create a culture of talent mobility: 

Today’s tal­ent is looking for organ­i­sa­tions who are com­mit­ted to assuring the devel­op­ment of their career.  A mobil­i­ty and career explo­ration strate­gy not only attracts tal­ent to your com­pa­ny, but also trig­gers an increase in the moti­va­tion and reten­tion rate of your employ­ees. 

As dig­i­tal trans­for­ma­tion remains strong, an effec­tive career explo­ration strat­e­gy is ben­e­fi­cial for both employ­ees and HR and should be a tal­ent pri­or­i­ty for your organ­i­sa­tion. 

Discovering Cornerstone Xplor 

Build­ing for the era of resilience requires agili­ty, skill strength­en­ing and tal­ent flu­id­i­ty. 

Cor­ner­stone Xplor does exact­ly that and indi­vid­u­alis­es the devel­op­ment of each employ­ee: 

• Analy­sis of skills pro­files and aspi­ra­tions of the employ­ee 

• Iden­ti­fy employ­ees by apti­tude 
• Find career oppor­tu­ni­ties by cross-ref­er­enc­ing skills 
• Under­stand the axes of devel­op­ment 
• Iden­ti­fy the routes of mobil­i­ty and the effort to be made to do this devel­op­ment 
• Pro­pose resources to grow 

Cornerstone’s Xplor propo­si­tion was born to inte­grate learn­ing expe­ri­ence, tal­ent mar­ket­place, con­tent and career man­age­ment into one sin­gle solu­tion. 

Skill­graph, a skills base of 50,000 fine­ly described skills, is at the heart of the plat­form (spar­ing you from build­ing and main­tain­ing the skills base). 

Xplor is based upon the AI of Skill­graph, the AI of con­tent and the explo­ration of careers with­in the organ­i­sa­tion. 

The first thing you’ll need in order to launch Cor­ner­stone Xplor is a Cor­ner­stone or Saba LMS. 

Ready to see the Xplor solu­tion in action? Ask for a demo! 

Dis­cov­er our exclu­sive webi­naire which presents Xplor: Skills, train­ing, mobil­i­ty: how to sup­port your employ­ees through their future careers?