This article was first published in Harvard Business Review
Companies’ capability to reskill their workforce will become increasingly vital to staying competitive. Jorge Tamayo, Leila Doumi, Sagar Goel, Orsolya Kovács-Ondrejkovic, and Raffaella Sadun assert that organizations can not only overcome skill shortages but also make reskilling attractive to incumbent and potential employees with six paradigm shifts: making reskilling a strategic priority, involving all leaders, embracing change management, designing attractive programs, fostering collaboration, and rigorously measuring impact.
Developing and integrating reskilling programs is not without its challenges though. The authors lay out key questions that leaders should be asking themselves when designing and running reskilling programs. If done right, companies can use reskilling as a key component of their human capital strategy, fostering a sustainable competitive advantage.