In terms of the technological changes that we see today, it seems like the world is moving at a frenetic pace. The rapid acceleration of technological adoption across industries has taken the business landscape by storm. Today, we are already witnessing the changes that are being brought about by the Fourth Industrial Revolution. Is there any industry that hasn’t been impacted by the slew of these changes in some form or fashion?
Ostensibly, adapting to the mandate of changes brought by Industry 4.0 has become an imperative for organizations across the world.
We’re on the verge of attaining the efficiencies that Industry 4.0 promises. Organizations are grappling with a labour problem as software bots, autonomous cars, and the pervasive Internet of Things link and expedite jobs performed by people. The key need gap today is re-align the workforce to meet the requirements of these changes via upskilling. So, how do organizations pivot themselves and their employees for industry 4.0? Based on insights from Forbes, let’s delve deeper into some of the key insights that your organization should be aware of before formulating a game-plan
Accept that the challenge is larger than just training
To begin with, training alone is not a panacea for upskilling woes and leadership teams ought to realize this. Moving a business to a new accounting platform or the most recent version of Windows is seldom enough. And now the task has become considerably more difficult. Companies are attempting to move their workforces into totally new realities, rather than simply replacing an application.
An article highlights that Industry 4.0 will allow people to focus on more challenging tasks while eliminating rote and mundane work.
According to McKinsey, by 2030, at least 20 to 50 million new jobs could be created with the confluence of multiple Industry 4.0 trends.
Whereas a report by PwC and the World Economic Forum highlights that by 2030, increased private-public partnership on large-scale upskilling and reskilling efforts may increase global GDP by $6.5 trillion and create 5.3 million net new employment.
Enhancing learning agility
Employees’ “learning agility” must be developed, embraced, and maximised by businesses. Learning agility discussions frequently centre on an individual’s capacity to acquire new abilities; nevertheless, their motivation to learn is just as crucial, if not more so.
So, how can organizations create the desire to learn among employees?
A strong desire to study necessitates a clear understanding of one’s personal and professional goals. Individuals must rediscover their purpose in order to reinvent themselves. Then they assess where they are today, define the gap and build the necessary skills to bridge the gap. Organizations can facilitate a coach or a mentor who can make this process easier by letting employees have a clear vision of their upskilling goals.
[box type=”success” align=”” class=”” width=””]A report by PwC highlights that upskilling the workforce might lead to a transition in the global economy toward a knowledge-based economy, with technology and robots taking over basic activities and people working alongside them. Both supply and demand must be addressed to prepare students and workers for the jobs of tomorrow.[/box]
The global upskilling agenda ought to focus on the following facets:
- Corporations, governments, and educational institutions should collaborate to create a robust and linked platforms dedicated to a comprehensive upskilling strategy.
- Working with companies, organisations, and the education sector, governments should take an agile approach to developing national upskilling efforts. This involves giving incentives for green economy employment creation as well as promoting technological innovation.
- Businesses should establish time-bound commitments to upskilling and worker investment as a basic business value.
- To guarantee that everyone has the chance to participate in the future of work, education institutions should reinvent upskilling and reskilling and focus on lifelong learning.
The road ahead
Industry 4.0 is a challenge like no other for industries. Upskilling would require cognizance of the evolutionary stages involves. Taking a careful and nuanced approach towards upskilling is pivotal for governments and organizations to prepare their workforce for the jobs of tomorrow.
