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

Talent management

3 minutes

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

Imane Bensouda

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?