Co-Founder at InterviewBit and Scaler.
As the Covid-19 pandemic continues to reshape the way we work and technology transforms the nature of work itself, many companies are turning to edtech solutions to bring their organizations up to speed. These solutions enable employees to learn new skills and adapt to new job roles within the company, which enables business owners to retain talented employees and deploy them elsewhere within the organization.
With the rise of automation and artificial intelligence, technological upskilling is no longer just a tool in the human resources department’s utility belt. It has become a bridge for employees to cross the technological threshold together with their companies.
How To Get Started
Edtech companies can serve as this bridge for companies that lack the means to develop their own training solutions. They offer training in new digital tools such as data analysis software and evolving coding languages.
The first step in this process is to identify the skill and knowledge gaps within the organization. The second step involves establishing clear goals and metrics to evaluate the return on investment (ROI) of the upskilling effort. Finally, it is essential to gauge the willingness of employees to take on the challenge of learning something new and expanding beyond their daily responsibilities.
The Benefits Of Reskilling
The future of the workplace goes beyond upskilling to reskilling. Many corporations I’ve spoken to predict that a significant portion of their functions will become obsolete in the coming years. Therefore, they are investing in reskilling their existing workforce.
For instance, instead of hiring new employees, a company in the web development industry may choose to reskill its current employees to incorporate artificial intelligence solutions into its business plan. In my experience, AI-powered learning systems have shown promise in facilitating faster reskilling, enabling a seamless transition into new roles or job functions.
On-the-job learning is increasingly crucial for retaining and acquiring employees. Corporations are actively seeking solutions to stay ahead of disruptive changes. Adopting emerging technologies is necessary, but maintaining quality standards becomes challenging when employees are unprepared.
Partnering with specialized edtech firms can help companies and their employees thrive in this evolving landscape. By leveraging AI to analyze data and create personalized learning experiences, edtech companies can assist corporations in addressing large-scale training needs effortlessly.
Challenges To Consider
While most organizations and employees recognize the importance of learning and development (L&D) in today’s ever-evolving world, the challenge lies in ensuring the effectiveness of companywide learning efforts. Many individuals may not take such initiatives seriously or engage with them wholeheartedly.
To address this, it is better to provide opportunities for employees to choose the skills they want to develop, with guidance from the organization. The company could also sponsor the costs associated with L&D budgets.
Additionally, setting clear goals, key result areas (KRAs) and objectives are vital for measuring the effectiveness of upskilling and L&D efforts, as well as considering the return on investment before engaging with edtech or other skill providers.
Choosing The Right Edtech Partner
Finding the right skill fit is crucial for every organization if not the most important requirement. It is imperative to seek an edtech or offline learning partner that offers the specific services required. Alternatively, the partner should be open to customizing and building a program that meets the employees’ upskilling journey.
Furthermore, it is essential to choose a partner that adds value by providing practical and hands-on learning resources, as many online learning programs mainly consist of recorded videos with minimal interaction with peers or industry professionals.
When evaluating learning platforms, social media platforms such as LinkedIn, Twitter and Quora provide valuable avenues for gathering honest feedback from service users. Connecting with these users through public forums helps assess the suitability of a particular edtech provider. Examining case studies of different clients and engaging with those brands can provide insight into their experience, contributing to the decision-making process.
It is important to dispel the misconception that edtech solutions are only relevant to the IT industry and the education sector. Edtech companies offer solutions for nearly every sector. For example, an insurance company can use edtech solutions to train its employees in customer data analysis using new software.
By upskilling and reskilling their employees, organizations can remain relevant and competitive in an ever-changing business environment.
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