Having employees with the right digital transformation skills is a key factor to success. However, there is a massive shortage of such skills. As a business leader, how can you solve the digital transformation skills gap in your company?
The World Economic Forum projects that at least 133 million digital-related roles may emerge globally by 2022. Moreover, there will be a strong demand for technical skills like programming and app development.
Furthermore, the demand for soft skills will rise sharply, too. Some examples of such skills are problem-solving and creative thinking skills.
A short-term solution to filling the skills gap is to pay a premium to acquired talent with skills in demand. However, it will only take a few years before those new skills become obsolete.
New roles continue to emerge and skills requirements constantly change. Yet, the existing pool of skilled workers can’t keep up with the ever-growing demand.
What options do you have to bridge the widening digital transformation skills gap?
There is no better time than now
Now is the best time for companies to invest more in reskilling their workforce. Studies show that the majority of employees (54%) will require huge reskilling by 2022.
Around 37% of workers in Europe don’t have even basic digital skills. That is quite alarming considering that companies also need specialized skills. That is to succeed in digital transformation.
It is a must to take new approaches to internal skills development. Moreover, consider looking into previously untapped talent pools. We’ll go into detail about those approaches below.
Harness technology to enable lifelong learning
Hiring new people isn’t really always the better option. Unlock the potential of your current employees by reskilling and upskilling them.
Online learning platforms such as Coursera and Udemy offer courses in in-demand areas like AI and data science. Such platforms help businesses stay ahead of disruption.
Moreover, companies that succeed in workforce transformation enjoy higher levels of efficiency. Also, they gain a wider audience and competitive advantage.
Swim outside your usual talent pools
As mentioned, you must also explore outside of traditional talent pools. You’ll find high potential and underutilized talent from people in diverse backgrounds, such as:
- Those without a college education
- Minority groups
- Young people
Studies have proven the benefits of workforce diversity. For instance, a McKinsey report shows that companies with workforce diversity have higher chances of gaining financial returns. That is compared to their national industry medians.
Furthermore, you need to consider how you provide training. For instance, apprenticeships offer practical on-the-job training. Meanwhile, entry-level employees that don’t have college diploma can benefit. too. That is from in-house training programs.
Moreover, partnerships with external workforce development agencies also bring great results.
Businesses must aim to become an ‘employer of choice’ to boost their chances of attracting and retaining talent. This does not end with offering competitive salaries and other perks.
Particularly, millennial employees want to work for a company that appreciates hard work. More importantly, talented individuals want to work for a company that aligns with their values.