{"id":83,"date":"2022-12-01T20:24:00","date_gmt":"2023-09-04T20:24:44","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=83"},"modified":"2023-10-21T11:47:30","modified_gmt":"2023-10-21T11:47:30","slug":"employee-upskilling-strategy-recession","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/eu\/blog\/employee-upskilling-strategy-recession\/","title":{"rendered":"A Recession-Ready Talent Strategy: Give Your Team New Skills"},"content":{"rendered":"\n<p><b><i>Many companies have started offering more on-the-job training, but most people believe those organisations are still lagging.<\/i><\/b><\/p>\n\n\n\n<p>The threat of a global recession means it may become harder for you to spend on new talent. But the need for a more digitally savvy workforce isn\u2019t going anywhere. <b>Luckily, there\u2019s a more economically resilient way to get the digital skills your business needs: give more of those skills to the team you already have.<\/b><\/p>\n\n\n\n<p>Whether offering online classes to learn low-code tech skills or new ways to market to customers, you can help your current employees <a href=\"https:\/\/trailhead.salesforce.com\/\" target=\"_blank\" rel=\"noopener\">bolster their professional skills<\/a>. <b>Training your workforce can have a positive impact on your business. <\/b>And you wouldn\u2019t be alone.<\/p>\n\n\n\n<div class=\"layout-six wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\"><span>Learn In-Demand Skills<\/span><\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\">Get hands-on and learn the Salesforce, digital, and soft skills you need to succeed from anywhere for free.<br><a href=\"https:\/\/trailhead.salesforce.com\/?d=inc-blog-banner\"><\/a><br><\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"wp-block-button\">\n\t\t\t\t\t<a class=\"wp-block-button__link\" target=\"_blank\" href=\"https:\/\/trailhead.salesforce.com\/?d=inc-blog-banner\">Learn More<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg\" class=\"attachment-full size-full\" alt=\"blog-offer-trailhead\" srcset=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg 768w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg?w=300&amp;h=169 300w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg?w=150&amp;h=84 150w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/>\t\t<\/div>\n\t<\/div>\n\n\t\n\t<\/div>\n\n\n\n<p>Amazon will invest more than \u20ac700 million to retrain one-third of its workforce by 2025. JPMorgan Chase added \u20ac350 million in 2019 to its original five-year \u20ac250 million investment in employee upskilling programs. <b>And PwC? The global consulting firm is trouncing both, allocating \u20ac3 billion over the next few years to train its entire workforce of 275,000 with more skills.<\/b><\/p>\n\n\n\n<p><b>The rapid pace of investment in professional development is the latest effort from big organisations to give their employees the skills they need to succeed while keeping them happy<\/b>, according to the <a href=\"https:\/\/learning.linkedin.com\/content\/dam\/me\/business\/en-us\/amp\/learning-solutions\/images\/wlr21\/pdf\/LinkedIn-Learning_Workplace-Learning-Report-2021-EN-1.pdf\" target=\"_blank\" rel=\"noopener\">2021 LinkedIn Learning\u2019s \u201cWorkplace Learning Report<\/a>.\u201d <\/p>\n\n\n\n<p>\u201cThis whole move toward online skill development is a permanent shift,\u201d said David Cohen, vice president of North America at LinkedIn Talent Solutions. <b>\u201cWe\u2019re going to see more and more people that are going to up-level their skill set on a regular basis through online learning.\u201d<\/b><\/p>\n\n\n\n<p><b>This can all lead to a stronger workforce that is happier in their roles, which can boost productivity. <\/b>In fact, three-quarters of Gen Z workers \u2014 who watched 50% more learning content in 2020 than in 2019 \u2014 say learning is key to a successful career, according to the LinkedIn report.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>What are you doing to future-proof your employees?<\/b><\/h2>\n\n\n\n<p><b>A recent <a href=\"https:\/\/www.gallup.com\/workplace\/351545\/great-resignation-really-great-discontent.aspx\" target=\"_blank\" rel=\"noopener\">Gallup poll<\/a> shows it costs \u20ac9,000 a year to retain an unmotivated employee but to replace that employee, the company needs to invest between \u20ac25,000 and \u20ac100,000. <\/b>That cost takes into account ramping up and training new employees, as well as integrating them into the company culture \u2014 regardless if they\u2019re working on-site or remotely, or a combination of the two. <\/p>\n\n\n\n<p><b>In fact, the proliferation of new hybrid working models has made the great employee upskilling challenge even more urgent. <\/b>While burnout, inequity, feeling undervalued, and other factors associated with the pandemic have all played a role in shaping the Great Resignation, few have had as significant an impact on our day-to-day as the ability to work from anywhere.<\/p>\n\n\n\n<p>\u201cA bunch of jobs are being converted to potentially permanent remote status,\u201d Cohen said. <b>\u201cWhat is that going to mean for the way we work, the skills we\u2019re going to need, and how we\u2019re going to remain productive with a permanent remote or hybrid environment?\u201d<\/b><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Help your employees realise their dream job is where they are<\/b><\/h2>\n\n\n\n<p>Many companies have started offering more on-the-job training, but most people believe those organisations are still lagging. <b>Sixty percent of respondents in a <a href=\"https:\/\/public.tableau.com\/app\/profile\/salesforceresearch\/viz\/GlobalStakeholderSeries2020\/Home\" target=\"_blank\" rel=\"noopener\">2020 Salesforce survey<\/a> believe companies are not making workforce training their top priority.<\/b> For executives worried about the potential cost and resources required to set up a robust professional development program, the same survey reveals more promising data: three-quarters of respondents say they prefer to learn on the job and in small moments throughout the day.<\/p>\n\n\n\n<p><b>\u201cWhat if you said, \u2018So, everybody hates Tuesday mornings. What if on Tuesdays, you spent an hour developing a new skill?\u2019\u201d<\/b> Cohen said. \u201c\u2018What if our team works on this skill together and you block your calendar for a couple of hours and all learn together?\u2019\u201d<\/p>\n\n\n\n<p>Even though millions of people have left or plan to leave their jobs in the near future, <b>it\u2019s possible for employers to retain great talent and preserve institutional knowledge by implementing on-the-job learning programs of their own \u2014 and connecting success in those programs with opportunities for internal growth.<\/b><\/p>\n\n\n\n<p>Offering training and development programs without real opportunities to apply those new skills toward the company\u2019s growth leaves employees frustrated and prone to take their new skills elsewhere. Even if the economy slows, many employees will continue to have options.<\/p>\n\n\n\n<p><b>\u201cPeople feel discouraged or disillusioned in the workplace when they have these skills and try to figure out how to transfer those in, but companies have a difficult time seeing how those skills could help someone make their mark,\u201d <\/b>said Jocelyn Orloff, a Los Angeles\u2013based business and life coach.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Employee upskilling can help retain your best talent<\/b><\/h2>\n\n\n\n<p><b>Companies that emphasise internal mobility have employees who stay an average of five and a half years at the company.<\/b> Compare that with companies that rank low on internal mobility rankings \u2014 their employees stick around for less than three years on average, Cohen said.<\/p>\n\n\n\n<p><b>It\u2019s almost a two-fold difference in retention rate for companies that invest in and move people around<\/b> and give them new opportunities to help them develop new skills versus those that don\u2019t, he said.<\/p>\n\n\n\n<p><b>Strong employee upskilling and professional development programs, coupled with tangible opportunities for internal growth, are the foundations for increased satisfaction and retention during a time of increased economic concern. <\/b>Add to that a company culture that focuses on strengths \u2014 what positive psychology defines as \u201ca person\u2019s innate virtues\u201d \u2014 and you\u2019ve got a winning recipe.<\/p>\n\n\n\n<p>\u201cClarifying the thing you love to do \u2014 that thing you can do all day and never get bored \u2014 that\u2019s the ultimate goal,\u201d said Aaron Gadiel, an entrepreneurial creativity coach and founder of Michigan-based Gadiel Group. <b>\u201cIt\u2019s about identifying the \u2018zone of genius,\u2019 that thing you\u2019re better at than the average person. If you want to make a shift that\u2019s long-lasting, identify what it is you\u2019re really good at and focus on that.\u201d<\/b><\/p>\n\n\n\n<p>According to a <a href=\"https:\/\/www.talentlms.com\/blog\/reskilling-upskilling-training-statistics\/\" target=\"_blank\" rel=\"noopener\">joint 2020 study<\/a> between TalentLMS, Training Journal, and Workable, 91% of companies and 81% of employees say upskilling\/reskilling training has boosted productivity at work. Of those polled, 80% admit upskilling or reskilling training boosted their confidence. However, after the onset of the COVID-19 outbreak in early 2020, <b>only 42% of companies said they increased training efforts, while 42% of employees pursued skills training on their own.<\/b> This shows that more work needs to be done. What role will you play?<\/p>\n\n\n\n<div class=\"layout-six wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\"><span><span>Skill up for the future<\/span><\/span><\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\">Prove your skills and earn globally recognised credentials that demonstrate your expertise to current and future employers.<\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"wp-block-button\">\n\t\t\t\t\t<a class=\"wp-block-button__link\" target=\"_blank\" href=\"https:\/\/trailhead.salesforce.com\/?d=inc-blog-banner\">Learn More<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg\" class=\"attachment-full size-full\" alt=\"blog-offer-trailhead\" srcset=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg 768w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg?w=300&amp;h=169 300w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2022\/11\/blog-offer-trailhead.jpg?w=150&amp;h=84 150w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/>\t\t<\/div>\n\t<\/div>\n\n\t\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Employee upskilling may be the way to keep your current staff as you navigate the future with the possibility of a global recession.<\/p>\n","protected":false},"author":1,"featured_media":85,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sf_justforyou_enable_alt":true,"optimizely_content_id":"c0c0aa270e5b4e5c8e29b9e8e4f8c220","post_meta_title":"","ai_synopsis":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"sf_topic":[11,15],"sf_content_type":[],"coauthors":[13],"class_list":["post-83","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","sf_topic-data-culture","sf_topic-future-of-work"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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