Independent Banker - July 2021 - 27

PORTFOLIO LEADERSHIP AT ALL LEVELS
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Upskilling and reskilling
By Lindsay LaNore, ICBA
T
he digital revolution has already
transformed our working lives,
but it's only just begun. Experts
predict that within a few years, digital
transformation and automation
will radically change the shape of
the workforce. To deal with that,
we need to think about upskilling
and reskilling.
These two terms are key to your
community bank's development. When
you upskill, you are closing skills
gaps within the same job function,
preparing your workforce to fi ll your
new functional needs. Think of it as a
vertical ascent. What do you need to
learn to take the bank to the next level?
Reskilling is more horizontal or
diagonal. What is needed to move into
another job function, one you already
have compatible skills with?
So, how do you decide whether
to upskill or reskill, and how do you
decide what is needed most so your
bank can accomplish its goals moving
forward? Perform a skills gap analysis.
That will help your bank uncover
gaps, organize training programs,
understand budgetary needs for
staff development and set career
development goals.
The fi rst step is to identify the skills
your bank needs. This may come
from managers, department heads, a
cross-departmental team of leaders,
the executive team or your human
resources team.
Be specifi c in your identifi cation of
needs and prioritize your list. A list of
76 skills is certain to be overwhelming,
so start with a handful and expand
once you feel confi dent in those skills
that are needed the most.
The 2020 LinkedIn Workplace
Learning Report found that learning
and development professionals are
laser focused on building soft skills.
Top-ranked soft skills include creativity,
problem-solving, critical reading,
persuasion, agility, collaboration and
emotional intelligence. Hard skills
centered on data and analytics, such as
blockchain, artifi cial intelligence, UX
design, digital literacy and business
analysis also rank high.
Once your bank's needs are
prioritized, it's important to rate the
competency of employees for each
skill, using performance reviews, skills
assessments, peer feedback, surveys
and interviews. Quantifying the ratings
helps measure a gap. The higher the
number, the more severe the gap.
Analyzing this data will help you
determine whether upskilling or
reskilling is needed. In many cases, it
will be a combination of both. Then, you
can decide where to invest your training
dollars and which hiring strategies to
adopt. It's all about future-proofi ng
your bank, but along the way, the
process may put it on a path toward
greater success and happier employees.
And ultimately, this workforce skill-up
may very well unleash greater potential
in your teams. 
Lindsay LaNore (lindsay.lanore@
icba.org) is ICBA's group executive
vice president and chief learning
and experience off icer
Build your soft skills
Community Banker University's online course library includes soft
skills classes like Communicating Persuasively, Communicating
Interpersonally, Creativity and Innovation in the Workplace, and
Problem Solving in the Workplace. icba.org/education
independentbanker.org Q 27
http://www.icba.org/education http://www.independentbanker.org
Independent Banker - July 2021

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