As budget constraints restrict hiring, reskilling workers might be a key way to manage costs and fill jobs, according to the results of an Express Employment Professionals and Harris Poll survey released Aug. 28.
Sixty-eight percent of the more than 1,000 hiring managers surveyed said their company plans to reskill employees this year, which is defined as training an employee for a new position or teaching them new skills for their current role. Only 60% said as much in spring 2021, the report said.
Of those planning to reskill, most said they plan to offer company-led training sessions, as well as on-the-job training by other employees.
Reskilling current employees is a much more predictable model than the hit-or-miss tactic of recruiting for experience, John Roller, an Express franchise owner in New Hampshire, said in a statement. “By installing an in-house ‘skills development program,’ companies can select current employees with known work history and provide training for the missing skill sets. It’s a huge win-win, but it takes an investment and dedicated focus.”
Notably, turnover may have hindered training efforts in the recent past, another franchise owner said in a statement, especially since employers have focused on investments in onboarding and new hire training. But now that hiring has stalled, employers may have the opportunity to jump start new programming, she said.
Suggestions included partnerships with state workforce agencies, tuition reimbursement for education, cross-training programs and internal mentorship.
“As we’ve seen over the past several years, there is no quick fix for the skills gap,” Bill Stoller, Express Employment International CEO, said in a statement. “However, companies investing in their greatest assets, people, will see the most success in recruiting, retention and their bottom line.”
HR pros may already be well aware of the reskilling needs in their organizations; most HR leaders previously surveyed by PeopleScout and Spotted Zebra said that half of their workforce will need to be reskilled within the next five years.
But workers are ready to take on the challenge. More than half of those surveyed by Boston Consulting Group said they are ready to reskill and retrain for roles to keep their career on track, especially amid the growth of AI.