Businesses across the world had to change their processes almost overnight due to COVID-19. Leaving many industries and workers to figure out how they can adapt to rapidly changing conditions, and learn how to match those workers to new roles and activities.
Before the current crisis, changing technologies and new ways of working were disrupting jobs and the skills employees need to do them. In a recent survey “87 percent of executives said they were experiencing skill gaps in the workforce or expected them within a few years. But less than half of respondents had a clear sense of how to address the problem.” (McKinsey Global Survey)
The coronavirus pandemic has fast tracked these problems and goes beyond the challenges of remote working. The real challenge is how leaders can re-skill and upskill the workforce to deliver new business models in the covid era and the future.
To meet this challenge, companies need a talent strategy that develops employees’ digital and cognitive capabilities, their social and emotional skills, and their adaptability and resilience. Now is the time for companies to act quickly to build up critical workforce capabilities and adopt a broad reskilling agenda to prepare for, and thrive in, the future world of work.
Three key reasons why upskilling now will benefit your organisation
1. Preparing for the new era of work and the “distancing economy”.
New business models are emerging in response to help reduce avoidable physical interactions. Customer attitudes, priorities and expectations are also evolving – it’s likely that we won’t all do business or shop in the same way in the long term, more and more brick and mortar stores are now transitioning online or investing more in ecommerce and digital services.
2. Adjusting to the ‘here and now’.
Many organisations have had to do a complete one-eighty in order to adjust to the unprecedented circumstances of COVID-19, with some roles changing drastically as a result.
For instance, perhaps your team members are currently having to fulfil certain tasks that they’ve never done before. While this may represent a significant challenge, they are gaining new skills to help your organisation cope with current challenges. Therefore upskilling can benefit your firm’s productivity and bottom line right now, rather than just in the future.
3. Closing critical skill gaps with learning pathways
As organisations prepare to reinvent their operating models, leaders need to have a solid strategic workforce plan. Many of our clients had already adopted these strategies prior to the pandemic.
One of our wealth management clients (Johnston Carmichael Wealth) has multiple offices across Scotland, traditional in-person training was an expensive task, with travel costs, and employees taking the time off their day to day jobs to attend. Since implementing the Redmill Advance Learning Management System (LMS) they have found it far more cost effective as well as having the ability to track development and progression instantly, personalise their training and update their staff on new regulations and processes electronically.
When developing a strategic workforce plan the key is to iterate strategic workforce planning to determine the right skills to develop. Redmill Advance LMS full management information capabilities enables a deep dive into user activity, exam results and development needs.
By investing in an LMS with reporting features, you can track learners’ progress, identify skill gaps, and find ways to deliver the right training to your learners — wherever they are, and no matter their learning needs.
Upskilling is a worthwhile investment
As companies build a recovery business model in the wake of this pandemic, it’s important to assess your workforce current and future skills.
By making upskilling a priority right now, it will pay off – not just for your business, but also by reminding your employees that even in these unprecedented times, their development and progression is still important.
Investing in your people during this time will also help future-proof your business well beyond the short-term requirements needed due to the pandemic, whilst providing reassurance to them that they are with an employer who cares!
Redmill Advance offers a variety of learning pathways, in addition to regulatory technical support (Chartered Insurance Institute (CII) and Chartered Investment for Securities and Investments (CISI)) we offer 180 core CPD e-learning programmes. We have several catalogues of e-learning including; business essentials, leadership skills, regulatory essentials, foundations skills, hr and people management and soft skills.
For our corporate clients, we have created a white label off the shelf solution for their business that’s a cost-effective way to develop and upskill their employees. Our learning and development platform extends beyond simply training and can be utilised as a business tool across induction, AML, and so much more… Many of our existing corporate level clients have already integrated our platform into their business as an induction and training tool.
Much of our product range is independently CPD accredited and other products in our range are recognised by the institute of learning management (ILM)
We offer all of these via and Learning Management system that has the following capabilities (and much more)
- Full Management Information capabilities enabling a deep dive into user activity, exam results, development needs and so on.
- Course authoring capability / easy content creation tools
- Webinar integration capability (Zoom, MS Teams, Go-To etc..) for blended learning.
- Group functionality allowing users to be categorised into individual groups and managed accordingly
- Forums inside the platform for users to communicate / share best practice
For more information about our corporate proposition and range of courses packages, book your free consultation to understand how our learning solution can meet with the needs of your business.
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(Reference to McKinsey&Company – McKinsey Global Survey)