I read with interest the WEF’s report on reskilling and the opportunities that are open to workers to rebuild and retrain as businesses shift. The ability to understand the existing skills, aspirations and gaps of your people is critical if you agree that reskilling (or being adaptive) is critical to staying in business.
The WEF report cites some interesting statistics (note: this is primarily US data, but I think its relevant regardless of location):
- As an average, workers were shown to have 10 transition options, or occupations that they could move to relatively easily and that, with some reskilling, they could have as many as 48 “good-fit” new career pathways to choose from.
- There is indeed a spectrum with this. If forced to change today, 16% of workers would have no opportunities to transition to a job with similar skills while 2% of workers have more than 50 options.
- In many cases, workers might even be better off. Many of these options would be jobs that pay more. Estimated at-risk workers who retrain for an average of two years could receive an annual salary increase of $15,000.
- With no retraining, one in four at-risk workers would see their annual income drop an average $8,600 per year—even if they find a new job.
So, why is this relevant to the work we do at Adepto? Our platform focuses on understanding an individual’s existing skills to enable engagement in relevant and stretch projects inside their organisation, but also to ascertain what their goals and therefore lateral fits might be. And given many people often don’t know what skills they need to better manage their career and/or ensure they’re a match for new opportunities, a platform like Adepto will help to not only manage current skills and auto-match to jobs and projects they want today but also enable people to map a career journey inside AND outside their current organisation while allowing them to provide recommendations on learning opportunities they could take to begin the journey.
Along with the interesting statistics of the report we see businesses challenged by barriers that include: understanding skills, visibility of where those skills are (and where they’re not) and connecting them to demand. And all this must be done by organisations who understand the need to promote life-long learning and career flexibility.
If you believe the new world of work means skills and roles are constantly changing, linking workers with their entire organisation in a new way, using technology will speed the on-the-job reskilling process and support a more adaptive and collaborative business.
I must give a quick shout out to our friends at Burning Glass who’s tech was used to form the results of this study. Understanding the opportunities to utilise an organisations skill base in new ways is at the core of Adepto and we think organisations who aren’t quickly embracing how to better understand their organisations existing and future skills are going to struggle as the change pace heightens.
– Chris Milligan, CEO and Founder