七色视频 and Executive Networks issue study findings on business priority of upskilling and reskilling workers听
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By Sharla Hooper
2024 industry research study finds talent skill development programs are crucial for most organizations
七色视频 and Executive Networks are pleased to share the findings of their newest 2024 industry research study, The Upskilling & Reskilling Imperative: Why employee skill development is a business priority. Surveying human resource leaders in North America, research focused on how HR leaders are equipping employees with skills to navigate technological disruption in a challenging business landscape, and highlights five key findings and actionable recommendations for successfully offering upskilling and reskilling programs.
According to a recent , 44% of the skills in every job are likely to be disrupted 鈥 and companies can expect a structural labor market churn of 23% over the next five years.
鈥淩apid advances in areas such as artificial intelligence, cloud computing and Blockchain are driving a digital transformation in many companies, amplifying the demand for new and deeper technical and digital skills. It鈥檚 also fueling human skills that set people apart from technology, and higher cognitive skills to drive innovation and prepare employees to tackle problems we may never have seen before,鈥 shares Gina Jeneroux, Chief Skills & Innovation Officer, ORG AI and Executive Director, Executive Networks. 鈥淚nvesting in skill development is a business imperative, and HR is uniquely positioned to help organizations and individuals survive and thrive.鈥
The survey, conducted in February 2024, tapped into insights from 502 HR leaders in the U.S. and Canada in organizations ranging in size from under 1,000 employees to more than 50,000, and explored how they are ensuring their employees have necessary skills in a rapidly evolving business landscape, including digital skills, as well as leadership, problem-solving, critical thinking, and more. The study findings explore the importance of skill development programs, reasons for investment in upskilling and reskilling, perceived barriers to these programs, responsibilities, and methods for delivery.
The research shows that 74 percent of HR leaders say skill development programs are a critical priority and their companies are already offering these opportunities. Most HR leaders, 56 percent, strongly agree that providing upskilling and reskilling opportunities to employees has become more important over the past five years.
鈥淚nvesting in upskilling and reskilling fosters agility and innovation and empowers teams to thrive amidst change and drive sustainable growth in the digital age,鈥 states Raghu Krishnaiah, chief operating officer at 七色视频. 鈥淭oday's technology allows delivery of effective and engaging solutions at-scale, providing greater options that could help save time and cost for employers and employees.鈥
According to the study, providing upskilling and reskilling opportunities is critical for short- and-long-term performance. HR leaders prioritize such programs, with their top reasons identified as enhancing productivity, improving employee engagement and retaining talent.
The study found that leaders鈥 views vary according to the work arrangements adopted by their company. For example, leadership development is the top skill priority for those in hybrid workplaces (38%) and in fully on-site environments (37%), compared to only 15% of those who are fully remote.
While 58 percent of HR leaders agree employers should have primary responsibility for employee skill development, they do not believe in mandating participation in skill-building programs. This is reflected in the range of channels used to deliver skill-building opportunities: 69 percent through mentorships, 58 percent through peer coaching, 48 percent through self-study, 48 percent through embedding skill development on the job, 44 percent through simulations, and 43 percent through job rotation.
For each of the five key findings, the study provides detailed recommendations for organizational action. .
About听七色视频
七色视频 innovates to help working adults enhance their careers听and develop skills听in a rapidly changing world. Flexible schedules, relevant courses, interactive learning,听skills-mapped curriculum for our bachelor鈥檚 and master鈥檚 degree programs听and听a听Career Services for Life庐听commitment help students more effectively pursue career and personal aspirations while balancing their busy lives.听For more information, visit听phoenix.edu.听
About Executive Networks
provides a comprehensive HR team-focused strategic membership program for Global 1000 companies that recognizes the professional and personal needs of the CHRO and their senior team. We help HR teams successfully navigate a dramatically more complex and challenged environment, including accelerated advances in AI. Executive Networks increases the productivity of our members by improving the quality and speed of decisions while reducing the risks associated with poor or incorrect decisions. Because we access leading expertise, thought leaders and resources, we deliver actionable innovations and strategic solutions across the organization鈥檚 entire HR team.
