Orchestrating the future workplace through the 'domino effect' of learning

investing in learning initiatives within the organization builds an empowered workforce, creates an aspirational value and improves talent retention. (SOMMAI/Shutterstock.com)

As a world well into the much-spoken-about Fourth Industrial revolution, we’re cognizant of the workforce need to upskill and reskill. The narrative is quite well-entrenched: an increasingly competitive business environment, technological innovation, changing demographics, and the shifting nature of work are all putting pressure on the need for learning and development in organizations. What’s more? COVID-19 has left workplace dynamics in turmoil and has pushed the gas pedal on uncertainties and inequalities in the world economy.

According to OECD’s Adult Skills Survey (conducted in 40 economies worldwide), more than 25% of adults reported a mismatch between their current skills and the qualifications required for their jobs. The impact is more far-reaching than one can imagine. The 2019 PwC Global CEO Survey addressed widespread CEO concern that a lack of key skills is hindering their organization’s ability to innovate, causing their people costs to rise and impacting their ability to provide an optimal customer experience.