Upskilling and Reskilling

Upskilling and reskilling their workforce has become a key concern for many companies and CEOs.  Skills are driving employee recruitment much more than qualifications.  At the same time, AI is changing the skills that companies will need in future, the skill mix of their workforce, where existing jobs will disappear and new ones be created.

No-one knows how this will play out yet, or how long it will take for everything to become clear.

Apart from the disruptive effect of AI on individual business functions, the changes will have profound  impacts for the Human Resources and Learning and Development (L&D)  Departments.  Talent recruitment, development, and management will become much more critical than at any time in the past.  It will be years before the availability of AI skilled workers is enough to meet every company’s needs.  Competition for other company’s skilled workers will be tough, and attrition could grow in companies that do not address this early enough.

Talent development will become something companies need to do, in varying degrees, for every employee that you wish to stay with the company.  

Martec's approach to upskilling and reskilling is based on a year’s deep research into this whole area.  We have documented a comprehensive approach to planning upskilling and reskilling for those that need it, progressing from entry level positions to top management, spreading the upskilling burden through individuals’ career paths, aiming to have a pool of people ready to fill the next level positions as vacancies are created.  For square pegs in round holes - people that are worth keeping, sideways moves can be trained for, to help you hold on to people with potential value to the business, who may not be in the right spot just now.

Our approach will help L&D, in conjunction with Finance:

• Produce accurate costings for the necessary investment
• Produce a well-developed series of estimates of the benefits and show the estimated ROI in terms of expected profit increase, change in the balance sheet, improvements in free cash flow and the Internal Rate of Return.

For more information visit our Upskilling and Reskilling Toolkit page.

For individuals looking to maximize their career prospects, our career path maps will guide you to where you might wish to develop your career and the steps you might take to do it.  Find the role that you are in now, or shortly to start, and study the learning path for that role.  Our learning path pages are in the process of being revised, so please feel free to contact us to request the updated one you need.  Currently these are available for Buying & Merchandising and Store Operations.