L&D 2022: Training for Change and Talent Scarcity
It’s been a wild ride through the pandemic, yet it seems we are emerging with renewed relief that normalcy may finally be here. Hooray.
With recent Australian Financial Review headlines reflecting an economy that just won’t quit – evidenced by a 13 year record low jobless rate of 4.2%, all things point to a post COVID recovery.
However, for L&D practitioners there are some thorny issues on the horizon – not the least of which is a talent and skills shortage.
L&D As Saviour During The Great Resignation
After all, the phrase the “Great Resignation” was borne out of the pandemic.
It’s true that workers have been quitting jobs that they either hated or realised were ‘optional’, given the new, hybrid world of work. After all, there’s much more flexibility and myriad options outside of working 9-5 jobs in conventional companies.
KPMG recently released a new survey of Over 400 chief executives, directors and business heavyweights, revealing a full 70% pointing to acquisition and retention of talent as their key worry amid negative net migration, and the impact of COVID.
Critically for L&D leaders, two of the top three big issues overall, are about preparing for future skills gaps.
So you could say that 2022 will be the year for L&D to shine.
We’ve talked about how organisations can indeed market themselves better to this new workforce:
- Creating an irresistible organisation
- Cutting through with microlearning
- Leveraging engagement techniques
- Learning to reskill successfully in a pandemic world.
As we look forward to the rest of 2022, we consider what lies ahead and how enterprises can successfully plan and action their pivot.
Too many jobs, not enough people
Not enough talent to go around, according to Josh Bersin of Bersin@Deloitte, is the overriding global prediction for 2022.
Here in Australia too, the crippling shortages of workers has affected almost every sector, and according to the Australian Financial Review, will be a concern for the next 3 to 5 years.
Two of the top three big issues overall, according to the KPMG survey, are about preparing for future skills gaps.
There have been reports of healthcare workers taking a break from the profession (and who could blame them?), but according to research, Millennials (mid-career professionals) are simply leaving their jobs for better ones.
And just in case you think that inflation isn’t a factor with all of this employee empowerment, you’d be wrong. People are changing jobs for more money. And they’re changing quickly.
Wages are already going up across the board in blue and white collar jobs, with a prediction that this will be “The year of the raise”.
Hospitality and tourism are amongst the sectors hardest hit by the pandemic, and frontline retail workers as well.
Digital Transformation just got a booster shot
Work automation, long talked about and championed by academics and business, has had a booster shot through COVID-19.
But even before the pandemic, digital transformation, the ‘work-from-anywhere’ model had already begun to disrupt the workforce as we knew it. Now, transformation is happening lightning fast, as more businesses offer remote or hybrid work options.
With KPMG reporting that digital transformation is the #1 challenge over the next 3-5 years, it is imperative that L&D has a seat at the table and a clear plan for how it will help drive profitability.
For example, learning platforms are increasingly becoming more critical to accelerating onboarding, upskilling and talent retention. So, best to explore your options with experts (ITC Learning’s Relationship Managers are a good start – here).
Adapting To Predicted and Unpredicted Change
So how can you adapt to the predicted – and unpredicted change in 2022?
In his most recent “The Big Reset Playback: Change Agility”, Josh Bersin delivers 10 actionable best practices that leaders must implement to support their businesses and employees during times of disruption.
It offers:
- 10 lessons of change agility – to enable your organisation to better adapt to change.
- A four-stage business resilience model that outlines the impact of agility and transformation on business resilience.
- Detailed case studies from Rabobank, LEGO Group, McDonald’s and XP Inc.
- Ways to operationalise any type of change.
To get your hands on the playbook and discuss your particular L&D needs for the rest of 2022, get in touch with the ITC Learning team today.