By: Ms. Divya Jain, Co-founder of Seekho
Research shows that upskilling has helped 43% of professionals gain career growth within their organisation, and 18% were able to secure a new job. The digital revolution has led to new technologies and tools that can potentially transform industries and how people work. However, this progress comes at a cost, and it estimates that emerging technologies like AI may displace around 85 million jobs by 2025. The need to upskill the workforce has never been more urgent as the digital landscape continues evolving at a breakneck pace. According to the World Economic Forum, over half of all employees will require significant reskilling and upskilling by 2025 to keep up with the digital revolution. Adapting to change, thinking creatively, and leveraging the latest digital tools and technologies have become essential in today’s digital age. As a result, individuals and organisations alike have realised the importance of investing in digital upskilling to ensure they can stay relevant and thrive in the digital realm.
One of the primary reasons why digital upskilling is essential is to remain relevant in one’s field. With the increasing adoption of digital technologies, businesses seek individuals with a broad range of digital skills. Shockingly, about 67% of high-skilled jobs now require one or more specific digital skills, with 59% and 18% being the numbers for middle and low-skill jobs, respectively.
Professionals who do not upskill themselves risk becoming obsolete as traditional business methods are quickly replaced by more efficient digital methods. However, upskilling allows individuals to adapt to changes and take advantage of new opportunities.
The COVID-19 pandemic has accelerated the need for digital upskilling. A recent study by Owl Labs reveals that 16% of companies worldwide have fully embraced remote work, with 27% of employers reporting an uptick in productivity.
With remote work becoming the norm and its prevalence expected to rise, employees must possess the requisite digital skills to collaborate with colleagues and effectively work from home. Therefore, for organisations to thrive in this new work environment, they must prioritise the development of a digitally adept workforce.
The importance of digital upskilling cannot be overstated in fostering innovation and creativity. Research shows that upskilling programs introduced by 93% of CEOs have resulted in increased productivity, better talent acquisition and retention, and a more resilient workforce. Staying abreast of the latest digital advancements and utilising them innovatively can give professionals a decisive edge. As digital technologies are ever-changing, those who can skillfully leverage them to generate groundbreaking solutions can help their organisations differentiate themselves from competitors. For instance, a marketer who upskills in digital marketing can design targeted campaigns that reach a broader audience and deliver superior outcomes.
Enhancing one’s skills gives one a feeling of accomplishment and advancement, which can boost motivation and job contentment. Moreover, businesses prioritising their staff’s upskilling showcase their dedication to fostering their employees’ professional growth. A survey suggests that 70% of employees are moderately inclined to switch to an organisation recognised for prioritising employee development and education.
The demand for professionals with digital skills is rapidly increasing, but there need to be more individuals who possess the necessary expertise, creating a skills gap. This gap is causing concern among 46% of employees who fear their current skill set will become obsolete by 2024.
Organisations are investing in digital upskilling to develop a workforce equipped with the latest digital skills and ready to tackle future challenges. Additionally, upskilling can benefit individuals who may have lost their jobs due to technological disruptions, helping them acquire new skills and remain competitive in the job market.
Digital upskilling is not just a luxury but a necessity for individuals and organisations that want to remain competitive and succeed in today’s fast-paced and constantly evolving world. According to the LinkedIn Learning Workplace Learning Report 2023, 89% of L&D professionals concur that individuals who engage in upskilling are better equipped to navigate future challenges and advance their careers by staying ahead of the curve.
Furthermore, organisations prioritising digital upskilling are better positioned to prosper in the current digital era and can gain a competitive edge by developing a workforce with digital skills.
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