Reskilling workers has become a key challenge for many businesses. Korn Ferry estimates that there will be an 85-million-person talent shortage by 2030. McKinsey likens the challenge to the shift from agricultural work to manufacturing that occurred during the early 20th century. No surprise, then, that training employees tops the agenda in many organizations, according to a LinkedIn report. The market for global corporate learning and development (L&D) is $350 billion, and increasing. Despite this massive industry-wide investment, one study determined that 75% of senior managers at organizations were dissatisfied with their L&D initiatives. Conversely, Gartner reports that 70% of employees feel they lack the skills required to do their jobs.
Using Simulations to Upskill Employees
These immersive, true-to-life scenarios help people practice skills in situations that replicate job conditions.
November 15, 2022
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Summary.
Training employees tops the agenda in many organizations, according to a LinkedIn report. The market for global corporate learning and development (L&D) is $350 billion, and increasing. Despite this massive industry-wide investment, one study determined that 75% of senior managers at organizations were dissatisfied with their L&D initiatives. Conversely, Gartner reports that 70% of employees feel they lack the skills required to do their jobs. The authors outline three systemic reasons for this paradox, and go on to explain how technologies can help make L&D processes more effective.
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