Docebo CEO Claudio Erba shares insights on how elearning tools can help companies close skills gaps, and why adaptability is the most important skill above all. Companies have been struggling with a shortage of digital talent for years, and the gap is growing. Globally this deficit is predicted to reach 4.3 million unfilled jobs by 2030, costing hundreds of billions of dollars in lost revenue. Meanwhile, machine learning (ML) presents companies with an unprecedented opportunity to drive business growth if it can be implemented strategically and early enough. For organizations to benefit from the advantages that ML will bring – and compete on a level playing field with competitors – they will have to skill up their workforce quickly and comprehensively, and maintain a strong training program for data science skills.
HR and Rewards are experiencing a technological transformation, but it will require a transformation in HR skills too. The technology revolution that is currently underway in HR could be totally undermined if HR practitioners do not have the skills needed to make the most of new digital solutions. Your HCM System controls the trinity of talent acquisition, management and optimization - and ultimately, multiple mission-critical performance outcomes. While HR is one of the last operational areas to see the full force of technology transformation, it is in the crosshairs of an increasing number of software vendors. Technology strategists look at the outdated and manual processes that still occur across HR and Rewards as the perfect opportunity for automation solutions.
"If your company isn't focused on upskilling, your workforce won't be well-equipped to adapt to new challenges and make the most of new opportunities," according to Jim Link, chief HR officer of staffing service Randstad North America. "Ultimately, your company will lose out on opportunities to innovate." Indeed, upskilling employees -- that is, teaching staff additional skills -- is becoming an increasingly critical practice for organizations and their HR departments as more industries face skill gaps and hiring markets become more competitive. Companies can take a variety of approaches to upskilling employees. On the technology front, AI and machine learning (a type of AI) promise to enable upskilling programs that help people adapt more quickly to an ever-changing workplace and world of work faster.
New Delhi, September 10, 2020: As part of its ongoing efforts to promote skilling as a national priority, NASSCOM FutureSkills and Microsoft have joined hands to launch a nation-wide AI skilling initiative. The initiative aims to skill 1 million students in AI by 2021. The collaboration will provide Microsoft's AI, machine learning and data science expertise to students through easy to consume modules including live demos, hands on workshops and assignments. These introductory sessions on AI will be available for undergraduate students at no cost and will cover the basics of data science, machine learning models on Azure, and understanding of cognitive services to build intelligent solutions. The partnership with NASSCOM FutureSkills is an extension of Microsoft's global skilling initiative to help 25 million people worldwide acquire new digital skills, needed to thrive in a digital economy.
What story will people tell about your organization over the next ten years? Will they celebrate an enthusiastic innovator that thrived by adapting workforce skills and ways of working to the demands of the new economy? Or will they blame poor financial or operational results, unhappy employees, and community disruption on a short-sighted or delayed talent strategy? Our modeling shows that by 2030, up to 30 to 40 percent of all workers in developed countries may need to move into new occupations or at least upgrade their skill sets significantly. Research further suggests that skilled workers in short supply will become even scarcer. Some major organizations are already out front on this issue.