Context: Throughout history, new technologies have demanded step shifts in the skills that companies need. Like the First Industrial Revolution’s steam-powered factories, the Second Industrial Revolution’s mass-production tools and techniques, and the Third Industrial Revolution’s internet-based technologies, the Fourth Industrial Revolution — currently being driven by the convergence of new digital, biological, and physical technologies — is changing the nature of work as we know it. Now the challenge is to hire and develop the next generation of workers who will use artificial intelligence, robotics, quantum computing, genetic engineering, 3D printing, virtual reality, and the like in their jobs.
Challenge: Organizations can’t just hire all-new workforces; there aren’t enough qualified recruits, and the expense would be enormous. Instead, they need to retrain and redeploy existing employees and other members of their communities, in addition to hiring and contracting new ones to fill their needs. However, rapid technological change has rendered skill cycles shorter than ever; key competencies of even a decade ago are passé today, and most of tomorrow’s jobs remain unknown. Moreover, the impact of COVID has considerably overhauled the way we used to train, develop, and learn, and while it has increased the number of people opting for learning courses, the challenge would be to sustain the drive and engagement.
Waiting for the fog to clear isn’t an option. In this CHRO panel discussion by People Matters & Degreed, we will look at some of the emerging skilling challenges like: