Henry Ford once said, “The only thing worse than training your employees and having them leave is not training them and having them stay.”
As global economies try to mitigate the employment displacement caused by COVID-19 and technological advancements, training has become more important than ever. As adoption of technology increases, the World Economic Forum estimates that 50% of employees will need to be reskilled by 2025.
But the question remains, as business leaders continue to focus on rapid digital transformation and the expansion of remote work, what should your employees be learning to prepare them for the future of work and to increase productivity and profitability for your organization.
Artificial intelligence (AI) has quickly become part of our everyday lives, and it’s rapidly transforming how we work. A Gartner study reported that the use of AI in business grew by 270% in a four-year period, and that AI is seen as a game-changer in the face of a talent shortage.
As organizations use AI to help address their skills gap, there are a number of surprising ways they can use AI to help with team development. AI has the potential to transform your workforce by upgrading your team development programs.
Here are five ways that AI can enhance your employee development and upskill your team.
Hiring new employees to fill skills gaps can be costly and time consuming when it comes to filling emerging tech and digital roles. A Gallup survey reported that the cost of replacing an individual employee can range from 50% to 200% of the employee’s annual salary. That’s why focusing on team development and upskilling your current employees is often a better solution.
A Gallup survey also reports that “the cost of replacing an individual employee can range from one-half to two times the employee’s annual salary.”
As critical as upskilling is, it’s important to identify potential challenges to initiating a company-wide upskill before you get started.
Here are some of the most common challenges when focusing on team development and upskilling, along with recommendations for how to mitigate them.
While your upskill strategy will likely have multiple components, online learning is sure to be one of them. Having a plan for offering enterprise courses to your employees is the perfect place to start, but deciding which courses to promote will depend on the specific needs of your company.
Here are some of the most ideal online courses for upskilling enterprise teams and what you need to know about the process.