As disruptive forces and newly developed technologies are quickly changing the way we work and learn, the exact effects of these changes may remain unknown, but organizations are seeing a significant shift in the skills they value and rely upon. As a result, a skills gap has formed and employers need help hiring appropriately trained workers.
The need to address the skills gap is urgent. According to a McKinsey report, 87% of employers say they are currently or expect to experience skills gaps. Rapid digitization in the tech industry has contributed to a loss of jobs due to automation. That, coupled with the changes brought about by remote and hybrid models, means the economy could face a massive revenue deficit over the next decade if this trend continues. Therefore, organizations need to respond quickly.
Building a future-ready workforce begins with skills transformation — providing employees the opportunity to upskill their talents and better prepare them to handle the evolving nature of technology. Creating a culture of upskilling means providing opportunities for employees to learn advanced skills to close talent gaps. It involves keeping employees engaged in continuous education to not only advance their personal career paths, but also expand the success of the business.
While many agree that workforce development initiatives would help close the skills gap, it can be difficult to take action because of limited resources and a lack of technology to assist these projects. However, organizations don’t have to act alone. With the help of partnerships, organizations can create a wealth of opportunities for companies seeking rapid growth, transformation and market expansion.
Reliance on Partnerships
In recent years, organizations have begun to leverage partnerships to address immediate needs within the industry sector; however, initiating or maintaining these programs can be difficult for small- and mid-sized businesses. As a result, businesses and communities alike rely on industry partnerships to aggregate skills demands across organizations and identify training and employment strategies that meet those shared needs.
Currently, 53% of U.S. jobs are middle-skill, which requires employees to have some form of education and training beyond high school, but less than a four-year degree. However, only 43% of U.S. workers are trained at this level, presenting a strong disconnect.
Due to this gap, organizations are sometimes unable to take advantage of growth opportunities because they can’t find the skilled workers they need. Additionally, millions of low-wage workers are losing out on the opportunity to win these better-paying positions if only they had the necessary education and training. This is particularly true for the information technology (IT) sector, which continues to grow, though at a slower pace than years past.
How the Tech Industry Is Leveraging Learning Through Partnerships
By developing reciprocal links at the local level, organizations can help both underrepresented groups that are relevant to the sector and job applicants seeking access advance their career trajectories. The continued success of partnerships between organizations and communities can help stimulate the economy, encourage change within the tech sector and serve as a model for other innovative, mission-driven organizations to follow.
Based on my prior expertise in building relationships to upskill staff members while also providing opportunities for underserved areas, here are my top three recommendations for getting started:
1. Ensure Mission-Driven Partnerships
Industry partnerships are alliances forged by organizations keen to match the demands of business and industry with workforce development initiatives, such as work-based learning. Industry representatives can share information about their projected workforce needs, success-critical skills and competencies, and current personnel sources.
While businesses don’t frequently organize industrial partnerships, their leadership and participation are crucial to ensuring the partnership creates a plan that’s in tune with the region’s demand for a certain kind of workforce. Building trust through relationships with industry partners allows businesses to learn from one another and implement tactics that have benefited other nearby competitors, including work-based learning programs.
The capacity of organizations to nurture corporate leaders who are committed to a common objective of upskilling a local workforce in order to benefit the larger community is maximized when collaborations are mission driven.
2. Foster Locally-Based Initiatives
The process of implementing solutions to address the needs of businesses and employees is intrinsically local. The effectiveness of industry collaborations depends on national standards, qualifications and programs, yet no single partnership model can be used nationally or across all industries. Fostering local community development may both advance equality and acceptance and spur regional and socioeconomic development.
In order to promote economic growth and further industry development, it is crucial that organizations form partnerships that not only assist national activities but also especially support marginalized groups and local communities.
3. Tailored Training
Organizations should investigate industry-level partnerships to address specific needs. Because employees may have varying levels of subject-matter expertise, it is beneficial to work with a training partner who considers your organization’s goals and adjusts the content so it is more engaging for the audience.
The development of meaningful relationships depends on organizations that can agree that a field crucial to the workforce as a whole has a talent deficiency for a much larger number of individuals and that these talent pools are tough to access. Because sales, business development and technical skills have the most potential for future career paths in the industry, collaboration in these areas should be specifically prioritized.
To deliver the most effective training programs and produce results, it’s critical that partners set shared objectives.
As technology continues to change the workforce, it’s important that organizations proactively address the continuing challenges of reskilling and upskilling by adopting training partnerships. Companies cannot forgo such investments in the rapidly changing business landscape of today.
