The impacts of COVID-19 have ramped up the pressure on costs and productivity for many organisations. This new environment is accelerating the need for digital transformation and creating immediate and large-scale workforce and skills challenges.
Automation, data analysis, artificial intelligence (AI) and other emerging technologies can deliver productivity. But technology is only as good as the leaders who identify its opportunities, the technologists who deliver it and the people who work with it every day. That’s where some companies are coming up short: the right mix of skilled and adaptable people, aligned to the right culture and with the right mindset and behaviours can help power their business.
Many leaders are finding that their existing upskilling efforts are not fit for purpose: programmes don’t deliver the return on investment (ROI) organisations want or the change they need. It’s a problem that should be solved urgently.
Employers who make good-faith efforts to upskill their people build trust - and that in turn can enhance the organisation’s reputation in a world where trust is an increasingly valuable commodity. Business leaders are in the spotlight.
In this short documentary, academics, NGOs, policymakers and business leaders explain why upskilling for a digital world has become a priority for society, organisations and governments. We’re at an inflection point — we need to act now, collectively, to tackle this major, global issue before we risk excluding great
“There is an upskilling dividend benefitting companies as they face an uncertain economy. Retaining the right talented people and enhancing their skills can help them survive today’s challenges and drives competitive advantage in the future.”
Three-quarters of CEOs taking part in PwC’s 23rd Annual Global CEO Survey responded that a lack of availability of the right skills is a concern. When the survey was conducted, from September to October 2019, pre-COVID-19, their worry was around how that would constrain growth. Today that same lack of the right- skilled and adaptable people could hamper their ability to tackle the impacts of the pandemic.
The survey also found that those organisations focused on expanding their employees’ skills, and therefore further along on the upskilling curve, were ahead of their peers in many ways and were more confident in their future.
Read more from PwC' Talent Trends 2020 report, Upskilling: Building confidence in an uncertain world.
Assess current and future business needs. Identify the size and nature of an organisation’s skills gaps and mismatches, where to start and what to prioritise.
Create and deploy programmes which harness the organisation's culture and use key behavioural economics principles to deliver the right learning experience and rapid results.