A new study by TalentLMS, Workable, and Training Journal sheds new light into the state of upskilling and reskilling training - Epignosis

Jul 10/2020

A new study by TalentLMS, Workable, and Training Journal sheds new light into the state of upskilling and reskilling training

The study reveals which are the most in-demand and missing skill sets from two different points of view, employers’ and employees’, and uncovers why and how companies decide to reskill or upskill their workforce and how beneficial these initiatives have been to business.

Almost half of the surveyed companies stepped up their upskilling and reskilling efforts after the COVID-19 outbreak. At the same time, 42% of employees pursued additional training on their own. This has been found in a new research, conducted by two major HR brands — the online training platform TalentLMS and the hiring platform Workable — in collaboration with the Training Journal.

“In this collective time, companies across industries, no matter their size or needs, moved their training online to keep going”, says Eleftheria Papatheodorou, Customer Support and Training Director at TalentLMS, adding: “We’re entering a period where online training is not another solution but the only way to go.”

The study uncovered disparities and alignments between employees’ and employers’ point of view. While they agree that some of the top skills missing at the workplace are communication and collaboration, there’s a divide on whether soft or hard skills training is more useful.

Key findings:

• Upskilling or reskilling training has been beneficial to companies’ productivity (91%), goals (84%), reputation (74%), and employee retention (69%).
• Lack of time (55%) and lack of training resources (46%) are the two main upskilling and reskilling barriers for companies.
• Communication (57%), leadership (54%), and proactive thinking (50%) are the most important soft skills the employees are lacking, according to employers.
• During the lockdown, 43% of employers provided more training.
• 74% of those who haven’t received upskilling/reskilling prefer to work for a company that offers them.
• 66% of employees think hard skills training would help them advance more, compared to only 34% for soft skills training.
• 74% of employees believe their managers need upskilling or reskilling.
• The joy of learning new things and developing new skills was the top upskilling motivator for 66% of the respondents. 33% do it with the purpose to be promoted and 29% to get a raise.

Read the full report here: https://www.talentlms.com/blog/reskilling-upskilling-training-statistics