HRO Today March 2021 - 49
LEADING WITH EMPATHY
By providing strategic education opportunities for employees, companies
can improve morale, reskill and upskill their workforce, increase retention,
and attract other high performers.
By Brian MacDougall
With the unemployment rate continuing to hover
around 7%, according to the U.S. Department of Labor,
investments in education and skills development are vital
to economic recovery.
Despite the economic and employment uncertainties
caused by the pandemic, a recent survey conducted
by InStride showed that business decision-makers rank
investing in talent development and new technology
as their top two business priorities in the current
environment.
When aligned with a company's specific goals, workforce
education programs are a critical business strategy
to address pandemic recovery. These programs can
have a number of positive, high-impact effects on an
organization.
1
Address skills gaps. In the same InStride study, 68%
of business decision-makers say there are skills gaps
within their current workforce that are limiting
their organization's future growth potential. Further,
35% say the skills gaps in their organization's workforce
have widened since the pandemic began due to a shift in
business needs.
Conversely, organizations that have chosen to upskill
and reskill their employees say the skills gap in their
organization has shrunk since the pandemic began (57%).
This is one reason it is imperative for leaders across
industries to invest strategically in short- and long-term
workforce development and skills training opportunities
for their employees.
CEOs and HR executives at U.S. companies dealing with
the financial fallout from the pandemic are making
MARCH 2021 | www.hrotoday.com
[49]
https://www.instride.com/newsroom/business-leaders-prioritize-investments-in-workforce-education-despite-pandemic/
http://www.hrotoday.com
HRO Today March 2021
Table of Contents for the Digital Edition of HRO Today March 2021
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