Upskilling: the key to emerging stronger in the new normal

This article first appeared at Harvard Business Review Arabia.

What’s holding CEOs back

There are a variety of reasons why CEOs could be cautious about developing their upskilling initiatives. More than a quarter (26%) of the Middle East CEOs in PwC’s 23rd Annual Global CEO Survey were worried about the disruption that an immersive upskilling programme can have on their day-to-day business activities. 17% were also concerned about retaining upskilled talent who might be more in demand from competitors after they have learned new skills. While both are a possibility, they’re a good indication of a successful upskilling programme. The key to holding on to employees with key skills is to ensure that there is a plan in place for utilising them so they can see the value of their new skills and are encouraged to put them to good use for their organisation.

Business leaders were also concerned about defining which skills their business will need in the future (13%), having sufficient resources to deliver effective upskilling programmes (11%) and the quality of external parties who conduct relevant upskilling programmes (9%). The latter should become less of a problem in the new normal as more learning becomes virtual and there’s greater access to global top talent. To ensure the most value, organisations should ask their potential vendors for user reviews of both the course and instructors and review case studies of their work.

COVID-19 has shown us that human resistance to embracing change can fall away overnight and that we can’t afford to wait for clarity on what exactly the future of work will look like. Instead, organisations need to prioritise building transferable skills now that prepare their people and create a culture of adaptability.

^{Please rank the three greatest challenges your organisation currently faces in its upskilling efforts.}

_{Source: PwC’s 23rd Annual Global CEO Survey}

Time to take action

As organisations continue to respond to this new business environment, it’s vital for CEOs to focus on developing the skills of their workforce. They need to send a clear message about their vision and strategy – including why they are prioritising upskilling – and lead from the front. Creating the right culture within the organisation that incentivises employees to take charge of their learning journey is vital.

“It is imperative for organisations to take action now. With the rate of technological advancement – and with COVID-19 accelerating change – organisations will need to invest in upskilling their people. It is less about technical skills and more about developing a workforce that is more creative, agile and prepared for the future.” Randa Bahsoun, New world. New skills. Middle East leader

In the long term, upskilling will raise employees’ productivity as digital transformation progresses. In the short term, reskilling will be important to help people work in new roles created by COVID-19. Learning new skills takes considerable time so it’s imperative that employees feel supported – investing in well-being and work-life balance can be a great way to keep people engaged and motivated.

The hardest challenge is to identify the key skills that the organisation needs and the potential skills gaps. At PwC, we have a five-step plan for upskilling that starts with analysing the transferable skills that work today and in the future. We use our Skills Expander digital platform to create an inventory of currently available skills within the organisation and new skills that are required. Following this, we build a future-proof skills strategy and lay the foundation for the cultural shift. Only then are we ready to create and deploy upskilling programmes which use key behavioural economics principles to deliver the right learning experience and rapid results.

Finally, it’s critical to focus on the return on investment (ROI) and showcase the benefits of upskilling. Success can be measured in terms of financial results, customer satisfaction, employee retention, talent attraction or societal impact – your business can lead the way in preparing people for the future of work.