In the wake of The Great Resignation and Quiet Quitting craze, organizations are grappling with a massive talent shortage. The scarcity of skilled workers is a pressing issue that hampers growth, productivity, and innovation across industries. Unfortunately, the forecast isn’t exactly bright: the talent shortage will become even more severe due to emerging mega trends, shifting demographics, and advancements in AI and automation. A recent report indicates that by 2030, there will be a global human talent shortage of more than 85 million people.
To address this challenge, organizations must focus on improving the employee experience and implementing targeted training programs that enable upskilling and reskilling. By doing so, companies can cultivate a highly skilled workforce, retain talent, and gain a competitive advantage in the market.
What is Employee Experience, and why is it so important?
Employee Experience (often shortened to EX) is a worker’s overall impression—how they see, think, and feel—about their journey at a particular company. An organization’s physical workspace, company culture, and technology tools are all crucial to this. An Employee Experience Program (EXP) is the new core of HR technology. It has emerged as one of the key factors in successfully adapting to changing priorities and workplace challenges driven by the pandemic.
Simply put, happy employees are more productive, engaged, and committed employees. A positive employee experience supports a deeper dedication to the organization—people are more likely to promote their company as a great place to work, leading to increased referrals, fill rates, and profitability.
Taking on the current skills gap and impending talent shortage.
The skills gap, characterized by the mismatch between the skills possessed by the workforce and those required by employers, has created a significant barrier to growth and development. As technology continues to advance at an unprecedented pace, the demand for new and specialized skills is soaring—but traditional education systems and talent acquisition methods are struggling to keep up, resulting in a lack of qualified candidates for critical positions.
Mega trends, such as digital transformation, globalization, and the rise of AI and automation, further exacerbate the talent shortage. These trends reshape job requirements and demand a more agile and adaptable workforce. Additionally, shifting demographics, including the retirement of the baby boomer generation, place an additional strain on the availability of skilled talent.
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What are the benefits of upskilling and reskilling programs?
According to Microsoft’s 2022 Work Index Report, 76% of employees say they’d stay longer at a company if they could benefit from learning and development support. Additionally, a global Deloitte study finds that 89% of executives say skills are becoming important for the way organizations are defining work, deploying talent, managing careers, and valuing employees. Implementing upskilling and reskilling programs offers a multitude of benefits that go beyond filling immediate talent gaps:
- Improved employee experience: These programs demonstrate a commitment to employee growth and development. By investing in their employees’ skills, organizations create a culture of learning and empowerment, fostering greater engagement and loyalty.
- Enhanced DEI support: Upskilling and reskilling facilitates diversity, equity, and inclusion efforts by providing minorities and underrepresented groups with the necessary resources and support to thrive in the workplace. By ensuring equal access to training opportunities, organizations can build a more diverse and inclusive workforce that reflects the broader population.
- Stronger talent acquisition: Rather than relying solely on external hiring, organizations can develop internal talent pipelines to fill critical positions. By investing in their employees’ growth and enabling them to acquire new skills, organizations ensure a sustainable talent pool from within their ranks.
How can Learn365 and Microsoft Viva Learning increase employee experience through upskilling and reskilling?
Learn365 is an invaluable tool for structuring upskilling and reskilling programs. The platform enables organizations to create structured career paths supported by robust training modules. By aligning these programs with company goals and individual career aspirations, employees gain a clearer understanding of the skills they can develop to continue thriving at work.
Tools like Learn365’s dedicated Skill Manager allow organizations to create custom skill sets and competencies that they can add to course catalogs and ensure learner skill developments. And with integrated Power BI reports, administrators can easily track employee skills and better manage training plans by leveraging competency analysis.
What’s more, Learn365 integrates seamlessly with Microsoft Viva Learning, enhancing the employee experience even further. Microsoft Viva is often referred to as “Google for learning,” as it aggregates various learning content into one centralized hub. This integration streamlines the learning process and empowers employees to take control of their professional development.
When employees feel supported, valued, and empowered in their career development, their engagement and productivity soar. The connection between learning and career growth serves as a powerful motivator for both employees and managers, driving performance and fostering a culture of continuous improvement.
Better employee experience means enhanced results.
Leveraging Learn365 and Microsoft Viva Learning gives organizations the opportunity to create a holistic learning environment that leads to a better employee experience. It allows users to structure their learning by assigning, automating and tracking course completion—creating a more complete and comprehensive learning experience.
The skills gap and talent shortage are significant challenges that organizations must address proactively to prevent them from becoming even more severe. By investing in an integrated Employee Experience Program like Learn365 and Microsoft Viva, organizations can ensure they have the people they need to get work done, while also creating a culture that supports employee growth and development.
Learn365’s customizable, adaptable, and dynamic features empower managers to tailor employee training to best fit each learner’s needs, more effectively preparing them for success and shaping the future of Employee Experience in an evolving workplace.
Find out how you can empower productive learning with Microsoft Viva and Learn365 today!
