-75%
Solution
In CIPD (2021) report which is learning and skills at work survey partnering with Accenture, Post COVID-19, appetite for L&D opportunities at work has increased. . The rationale of this is refreshing alignment with organisation objectives, embracing digital technology and supporting employees reskilling and redeployment. According to McQuaid et al. (2010) this trend started in 2010 particularly in UK where the employees noted that they lacked sufficient skills for enabling them to succeed in future labour markets. It is in this regard that most organisations are adopting the use of 70-20-10 Model for learning and development. Through this, Mughal (2023) note that organisations use 70% of knowledge from job linked experience, 20% from interactions with the rest and 10% from the formal learning. Similarly, in Stoeger et al. (2024) report, with Generation Zs and Millennials increasing in modern workforce, their preference is on good work-life balance and L&D opportunities at 60%. For the drawbacks of the increased appetitive for L&D opportunities at work, the process is cost intensive to organisations. This is while demanding immense time away from workplace and poor quality training leading to poor quality work.
Identified Example– In McKinsey (2018) report which had modelled skills shifts towards 2030, automation lead to an increased demand for social and emotional skills. Also, need for cognitive, physical and manual skills decline hence need for transition. For example, in an organisation such as Riyad Bank operating in KSA banking sector, the increased automation has created new demand for digital skills which is continuously demanded. Specifically, the bank has been investing in analytics and artificial intelligence for effectively understanding customers’ demands effectively and offering best clients experiences. Further, Frank et al. (2019) report hypothesised that today, 60% of employees are engaged in job roles which were non-existence in the last 10 years. Hence, for success in organisations in their business environment, they are required to improve training opportunities, continuous learning and guiding to upskill and reskill and progress in their job opportunities. In Riyad Bank case, the increased automation has been contributing to increase in turnover, quitting rates and development of hybrid working post COVID-19 pandemic.
Approaches of Organisations Responses
Alignment with Business Strategy– For responding to the increasing appetite of L&D particularly due to the increased innovation of their operations, L&D would need to be in alignment with entire business strategy. In McKinsey (2019) report, it hypothesised that 40% of all the organisations have their L&D strategy misaligned to organisation goals. This is with 60% of the organisation having their learning lacking explicit link with organisation goals. For example, in Riyad Bank, the management must ensure that in the wake of automation, their budget is reconfigured in line with today imperatives as opposed to past years priorities. The disadvantage of this response include the perception that it is challenging in developing or implementing. This is since most organisations would see this as a knee jerk reaction to the current automation of their operations and not necessarily for their growth and development.
Prioritising L&D initiatives–
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