The ability to adapt and acquire new skills is key to career success. For underrepresented professionals, this becomes even more crucial. Leaders who can understand the skills and opportunities available within their teams are not only prioritizing their employees’ career advancement but also are strategically positioning their organizations for growth.
Skills as a Business Solution
Recent conversations with leaders across industries reveal a growing concern about maintaining engaged, productive teams in times of market uncertainty. Many are asking: “How do we do more with less?”; “How can I make sure my team is set up for growth?”; and “How can we improve employee engagement and overall satisfaction?”
The answer to all of these questions lies in skills. Skill-building is paramount for any individual and company navigating our current market.
What Are Skills-Based Teams?
You may have heard terms like “skills-based economy” and “skills-based workforce.” These aren’t just buzzwords. These concepts could be the key to unlocking individual and organizational potential. Tapping into your team’s current skill sets and facilitating strategic skills development not only catalyzes individual career growth but also leads to higher-performing teams, increased motivation and more sustainable companies.
Leaders across the globe are recognizing this as an opportunity and over 70% are investing and reskilling as part of their company’s strategy for the future.
Professionals are recognizing this opportunity as well. In a 2024 survey about what diverse talent wants, 91% of respondents said they wanted to see more upskilling and leadership development opportunities from employers. In times of economic and legislative change, along with other major impending changes to the way we work, people want to see their companies invest in them in a way that’s proven to provide job security and upward mobility.
The Dissonance Between Perception and Reality
While many companies believe they’re doing well in supporting employee development, research shows a disconnect between how companies perceive their efforts and what underrepresented professionals experience and desire. 70% of workers report that they’re not happy with their organization’s learning and development (L&D) initiatives.
In addition, according to the World Economic Forum, 6 out of 10 workers will need training in the next three years, but only one-half of these people have access to adequate training opportunities today. This gap is particularly pronounced for diverse talent, who often have the skills and desire for growth, but have fewer opportunities to obtain and develop new skills.
Upskilling as a Catalyst for Career Growth and Equity
Upskilling is key to catalyzing career growth, recognizing opportunities and narrowing the pay gap between underrepresented talent. To effectively support career advancement for all workers, consider these strategies:
- Conduct a skills audit: Assess your team’s skills to identify gaps and opportunities for growth. Consider hard and soft skills, certifications, and relevant expertise and expertise that each individual team member has.
- Have conversations with team members: Understand their career goals and align them with company needs. This involves a delicate balance of strategy and empathy, and, when done correctly, these conversations build trust and psychological safety.
- Review your company’s professional development policy: Ensure it offers relevant, engaging educational resources and supports a variety of learning styles and needs. Also, review all of your training materials and resources to ensure they’re accessible and use inclusive language.
- Invest in training and development: Provide a range of training options, including in-person and online courses, training simulations and mentorship opportunities. Consider providing a professional development stipend so employees can access an even wider range of training options that best suit their personal growth needs and desires.
- Advocate for your team’s growth: Advocating for your team’s growth is a crucial aspect of being an effective leader. It involves actively promoting their development, recognizing their contributions, and connecting them with opportunities that align with their career aspirations. Use your influence to ensure that underrepresented professionals have equitable access to opportunities for skills and leadership development.
As you embark on this skills development journey, there are some additional points to consider:
- Measure and evaluate: Track the impact of your upskilling initiatives periodically to identify what’s working and what needs improvement. This data can inform future strategies and resource allocation.
- Address implicit bias: Be aware of unconscious biases that may hinder your ability to recognize and support the potential of underrepresented professionals.
- Partner with external organizations: Collaborate with industry leaders, educational institutions, and diversity and inclusion organizations to provide additional access to a wider breadth of resources and expertise.
By implementing these strategies, you can create a more inclusive and equitable workplace where all employees have the opportunity to reach their full potential.
