Dramatic employee turnover is being predicted in the post-pandemic era, at the same time that AI is being incorporated into more learning and development solutions, giving employers an opportunity to establish a competitive differentiation. An employee turnover "tsunami" is predicted by results from a survey of 2,000 adults in February conducted by The Work Institute, a research and consulting firm in Franklin, Tenn., according to an account from SHRM, the Society of Human Resource Management. The survey found that half of employees in North America plan to look for a new job in 2021. "We see absolutely pent-up turnover demand in the U.S. workforce," stated Danny Nelms, president of The Work Institute, which is focused on employee engagement and retention. Prior to the pandemic, the firm would see about 3.5 million people leaving their jobs monthly.
Enterprises now acknowledge the value of having a highly capable workforce. The ever-changing business landscape demands workers to continually upskill and reskill, giving rise to employee training utilization. Most organizations are now reinforcing their human resources and training and development departments to help them address the need. Large US companies on the average spent $17.7 million on such efforts in 2019. Managing employee training, however, has its own set of challenges.
CHIBA – Corporate Japan's growing need to rely on new technologies to cope with a shrinking workforce was on show at the recently held CEATEC technology exhibition in the city of Chiba, with service industry companies turning out in greater numbers this year. As more and more skilled workers reach retirement across various industries in rapidly graying Japan, businesses are turning to new technologies to hand down field experience and knowledge to younger workers. East Nippon Expressway Co., operator of expressways and toll roads in Japan, is one of the companies adopting "mixed reality" technology as it seeks to boost training of inspection and maintenance personnel. "We are increasingly required by the government to conduct checks on roads but our skilled workers are aging and cannot work at their fullest anymore. So we needed to rely on high tech to share and pass on their know-how to the younger employees," said Masaki Ishiguro, official in charge of maintenance at the firm, also known as Nexco East.
By 2020, 25% of the American workforce will be over the age of 55 and approaching retirement, a phenomenon becoming known as the Silver Tsunami. While this could create a shortage of skilled workers in a number of fields including electric utilities, telecommunications, and manufacturing, augmented reality (AR) is poised not only to address issues faced by our aging workforce, but to fundamentality increase productivity by changing how all employees are trained in the future. In 2016, U.S. companies across industries spent nearly $1,000 in training per employee, largely delivered in traditional formats like classroom-based seminars and classes, and even online training modules that mimic that experience. This kind of learning has suited people's needs for centuries, particularly when learning was thought of as memorization with many cultures celebrating those who could recite long texts with exceptional rote skills. But as the breadth of human knowledge expanded, learning paradigms have changed with the works of John Dewey and others who recognized that understanding why information is important and how it relates to our world is true learning--and should be the goal.
Developing training programmes for a large group of sales or technical or services personnel is a challenging task as the programme is meant for a diverse group, and has to be engaging and meaningful for the participants. The programmes are mostly delivered at multiple locations, they have to be updated from time to time and at times, also require to be culturally sensitive to remain relevant as well as contemporary. Effective assessment strategy is also important to ensure the programmes meet the stated business objectives. In the digital era, there is a plethora of content available on the internet. A lot of it is free of cost via options such as MOOCs, Course Era, You Tube and others.