On Jan 22, 2020, Saadia Zahidi, the Managing Director, World Economic Forum, wrote in an article, ‘In the next two years – by 2022 – 42% of core skills required to perform existing jobs are expected to change.’ The fourth industrial revolution is calling for a massive overhaul of skills in every sector and the question is how are you going to achieve this in just two years?
The solution for every challenge lies in implementation of the right technique. But the bigger challenge we have in hand is time. There is hardly any time for trial and error and that is why your measures will have to be calculated. If you have not been paying attention to ‘data analytics’, it’s high time that you do.
Though there are a vast array of data analytic tools available, the problem remains with the data collection points. L&D professionals have to understand that it is not enough to collect data about the skill gap of your employees, but also consider the existing skill set to leverage the same for enhanced performance.
Upskilling or reskilling of employees that has been suggested by the World Economic Forum, is not a one-sided implementation but a two-pronged way where people data will be as important as learning data. Creating competency index based on people data pertaining to a learner’s interest, capabilities, and skillsets can help chalk out a career path for each individual; personalized to fit their needs as well as the organization. Then measuring the outcome of the learning module implemented and finding the exact right path to get the best results is a way to leverage learning data. It is a must to recapture the definition of data to include a variety of operational and people metrics.