Elevating the Skills Intelligence of Your Business

Why does upskilling matter? It’s more than just preparing for tomorrow—it’s about safeguarding your company’s competitive edge, financial stability and employee satisfaction. 

According to IDC, the impending IT skills shortage is projected to affect nine out of ten companies by 2026. This translates into a staggering $5.5 trillion in losses due to project delays, compromised quality and missed revenue opportunities. 

Spotlight on Emerging Skills 

Which skills are emerging as crucial in today’s rapidly evolving landscape? The Coursera Skills Report offers compelling insights: 

1. Digital dominance: The most rapidly growing skills are predominantly digital, reflecting the pervasive influence of technology across industries. 

2. Human skills harmony: Amidst technological advancements, skills like change management and effective communication remain perennially in demand, underlining their critical role alongside automation. 

3. User experience unveiled: With digitization reshaping consumer expectations, skills focused on enhancing user experience are becoming increasingly indispensable. 

4. Technical prowess and project leadership: There is a rising demand for professionals who can seamlessly integrate technical expertise with adept project management skills. 

5. Data storytelling: Skills in data visualization and analysis are gaining prominence, complementing foundational human skills such as storytelling and interpersonal dynamics. 

6. Navigating change: Leadership skills that guide teams through transformative changes are emerging as pivotal for organizational resilience. 

7. Communication mastery: Effective communication—both within teams and with stakeholders—is paramount in navigating hybrid work environments and driving strategic initiatives forward. 

Empower Your Stars 

Recruiting top talent with the precise skills needed is increasingly challenging. Nurturing and upskilling your existing workforce isn’t just a strategic advantage but a necessity for sustained growth. 

Understanding the current and future skill landscape is essential for crafting effective learning pathways to encourage this growth. The right upskilling platform can simplify this process by extracting pertinent skills from course content and integrating real-time labor market data, which leads to curated personalized learning journeys.  

Assess Your Company’s Upskilling Readiness 

To gauge your readiness to meet future skill demands, consider these questions: 

• Skill proficiency: Do you have a comprehensive understanding of the skill sets of your current workforce? 

• Alignment with objectives: Are your business goals aligned with the skill sets of your employees? 

• Future skill projections: What skills will be indispensable to your organization in the next 5, 10 or 20 years? 

• Identifying gaps: Where do you perceive gaps in your current workforce’s capabilities? 

• Closing the gap: How do you plan to address these gaps through strategic upskilling initiatives? 

• Future-proofing strategies: Are you prepared to meet the evolving demands of your industry? Do you have insight into upcoming skills trends? 

• Anticipating trends: What are the emerging skills on the horizon, and how are you preparing to integrate them into your workforce? 

Stand Out in a Competitive Workforce 

In the competitive landscape of talent acquisition and retention, proactive investment in your workforce’s development not only safeguards your organization’s future but also enhances employee satisfaction and overall performance. 

SkillsWave is an upskilling platform that can empower your business to upskill and retain talent amidst evolving skill demands. Want to learn more? Request a demo today.