• Upskilling and reskilling directly address HR’s known challenges, yet according to our Annual Eightfold Talent Survey, only two-thirds of departments are prioritizing this approach.
• Upskilling can reduce turnover and costs and is less risky than hiring and onboarding new employees. It also better enables teams and companies to adapt to change.
• HR teams’ efforts at upskilling are often stymied by misalignment, not understanding your workforce’s current skills, and an inability to identify new employee opportunities.

Benjamin Franklin once wrote, “Nothing is certain except for death and taxes.” This guaranteed uncertainty of life extends to every dimension of business: revenue, expenses, technology, market trends, and, of course, hiring.

Many organizations are unsure how to or where they should grow their workforces and develop slates for new positions.
However, building and maintaining a strong, flexible workforce is imperative for grasping new opportunities and accommodating unanticipated shifts.

This doesn’t always mean adding new head count to your organization. Our latest Annual Eightfold Talent Survey, conducted with marketing research firm 3Sixty Insights, found that 71% of HR departments struggle with internal and external staffing, making it the No. 1 HR challenge overall.

Reducing turnover (82%) rates is the second priority. Yet only 66% of survey respondents listed upskilling as a priority—even though it can mitigate the urgency of finding better candidates while reducing turnover.

Continue Reading the Full Article Here: In a year of uncertainty, focus on upskilling