The Four Reskilling Principles Every HR Leader Should Know (an Interview with Anish Lalchandani)
Nov 5, 2024
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Anish Lalchandani, Global Head of Talent Management at Maersk and author of The Skills Advantage, discusses the urgent need for reskilling in a rapidly changing job landscape. He introduces four key principles—awareness, application, agility, and alliances—that facilitate effective workforce transformation. The conversation emphasizes the pivotal role of AI in reskilling efforts while advocating for a balance with human skills. Lalchandani also highlights the importance of collaborative partnerships and effective metrics to measure reskilling success.
The urgency for reskilling is driven by technological advancements and changing business models, necessitating a strategic human-centered approach to workforce development.
Implementing the four cornerstones of reskilling—awareness, application, agility, and alliances—can create a sustainable ecosystem for employee skill transformation and organizational success.
Deep dives
The Impact of Job Changes and Reskilling Necessity
A significant transformation in the job market is anticipated, with the World Economic Forum predicting that nearly 25% of jobs will evolve in the next five years. This shift will result in the creation of 69 million new positions while also eliminating 83 million roles. The urgency for reskilling is underscored not only for individual workers but also for organizations and governments, as ongoing advancements in technology and changing business models necessitate adapting to new job requirements. By embracing a reskilling agenda, companies can ensure their workforce is prepared to meet future challenges and opportunities.
Understanding Reskilling vs. Upskilling
Reskilling is positioned as a critical focus, distinct from upskilling, especially as organizations face disruptions in business models. While upskilling aims to enhance employees' current roles, reskilling targets the development of new skills required for upcoming job families and job roles. As job tenures shorten, businesses must prioritize equipping workers with the necessary competencies to adjust to changing demands. This human-centered approach to reskilling emphasizes the importance of meaningful careers and alignment with individual purpose and aspirations.
Four Cornerstones of Reskilling Strategy
The reskilling strategy is built around four essential cornerstones: awareness, application, agility, and alliances. Awareness emphasizes the need for clarity on the 'why' behind reskilling initiatives, ensuring employees understand their relevance. Application involves the practical aspect of skills acquisition, stressing the importance of learning through real-world experiences rather than merely theoretical knowledge. Agility highlights the need for adaptable practices that respond to evolving business needs, while alliances stress the collaboration among various stakeholders—both internal and external—to effectively address reskilling goals.
Measuring Success in Reskilling Efforts
To effectively measure the impact of reskilling initiatives, organizations need to align their strategies with specific business goals. This approach includes identifying key performance indicators that go beyond attendance or completion rates of training programs, instead focusing on metrics such as skill proficiency improvements and the successful redeployment of employees. Additionally, companies must consider the financial implications of their reskilling efforts and how they contribute to business value, such as innovation, workforce adaptability, and risk management. By integrating robust metrics into their reskilling frameworks, organizations can realistically assess progress and refine their strategies to meet future challenges.
With multiple reports predicting the disappearance of millions of jobs in the coming years, an urgent need for a reskilling revolution has sparked organisations and governments across the globe.
In this episode of the Digital HR Leaders podcast, host David Green dives into this pressing topic with Anish Lalchandani, Global Head of Talent Management at Maersk and author of The Skills Advantage: A Human-Centered, Sustainable, and Scalable Approach to Reskilling. Packed with insights, this episode covers:
The “four cornerstones” of reskilling: awareness, application, agility, and alliances, and how they drive sustainable workforce transformation
The pivotal role of AI in accelerating reskilling efforts and the importance of balancing technological advancement with human-centered skills
Strategies for building partnerships within and beyond the organisation to foster a supportive reskilling ecosystem
Key metrics that HR leaders should use to measure the success of their reskilling initiatives and demonstrate value to the business
This episode, sponsored by Workday, is essential for HR leaders looking to transform their people strategies through AI-driven talent orchestration and offers practical takeaways on how to leverage these tools for organisational success.
Workday is a leading provider of enterprise cloud applications for HR and finance, recognised as a leader in the Gartner Magic Quadrant for Cloud HCM Suites.
Organisations ranging from medium-sized businesses to more than 50% of the Fortune 500— including Netflix, Sanofi, AstraZeneca, and Rolls Royce—have chosen Workday to build their HR systems and implement Workforce Analytics solutions. Join them and learn more at workday.com