With over 1 billion jobs expected to transform due to technology, our workforce is projected to experience a reskilling emergency by 2030. This will cause companies to struggle when looking for candidates that meet their specific criteria, and many will be unable to fill positions that they needed to be filled yesterday.
One straightforward solution to this shortage is to create skilled workers through reskilling.
“There are talented professionals who have 75% of the experience and training, and we can provide them that 10-15% in additional training to bridge that skill gap,” said Tim Guerinot, COO at Enterprise EQ. This would only require finding qualified candidates with a similar background and skillset to the role companies want to fill, then hiring senior workers to train them for the position. “This process takes about 45-60 days; it’s almost like you’re creating talent out of thin air,” said Tim.
An additional benefit created through this reskilling is loyalty from new hires.
“A majority of people under the age of 40 have a tenure of two to three years, which is very short. By helping these individuals reskill, they can adopt company-centric tools to appeal to their clientele as well as adopt the company’s culture so they can be productive within the company,” said Tim. “People want to be needed and feel productive within their company, and by investing in this training, you reassure these needs.”
Although reskilling may seem easy on the surface, companies that retain old-school mindsets struggle to see the benefits of training individuals who diverge from the specific experience and education they’re seeking. According to the Wall Street Journal, this misalignment can be seen in our current job market. America currently has over nine million job openings and unemployed job seekers. Companies struggle to find people to fill positions due to a disparity in the worker’s skill set, interests, and location.
Over the past year, many workers have grown accustomed to the benefits of remote work and their newfound freedom to relocate to areas they never thought possible and very rarely offered in a more traditional workplace. According to the Wall Street Journal, the pandemic supercharged the migration phenomenon that has been occurring over the last few years. In 2020 alone, over seven million households moved to a different county, nearly half a million more than in 2019. These moves were mostly centered around a lower cost of living, better mortgages, lower interest rates, and the promise of more space.
As the worker starts to gain more control over their employment, the future of work is evolving. With this, companies will need to adapt to the changing market and consider adopting the idea of creating reskilling programs for candidates, creating your ideal employee.
Want to learn more about how your company can find and create skilled professionals who want to work with you? Discover talent solutions that fit your business goals to turn your HR into a revenue generator today.