Why You Should Be Conducting a Future-Skills Analysis (And How to Upskill Your Team)

Companies face a daunting challenge: attracting and retaining top talent. With talent shortages and gaps sweeping across industries, businesses must be prepared to train their teams effectively, no matter how much they change. The solution? A future-skills analysis, can help identify the skills needed for growth and success.

A future-skills analysis involves an evaluation of current and anticipated business needs, as well as an assessment of industry trends and technological advancements that may impact the workforce. By conducting a future-skills analysis, employers can identify the skills gaps within their organization and develop training programs to equip employees with the necessary skills to meet future demands.

McKinsey notes that a skills-based approach to hiring and training helps companies retain talent, as employees are upskilling effectively, which boosts the potential for internal advancement. To assist employees in progressing in their careers, internal road maps to promotion from entry-level roles are crucial. For example, employers can use a skills-based training approach to create personalized onboarding programs for new hires by modifying existing ones to suit new training needs. This approach ensures that the employees are provided with the necessary skills to succeed in their roles in the long run. Additionally, on-the-job training and continuous learning programs are essential to keep employees updated with the ever-changing work environment.

A future-skills analysis coupled with a skills-based approach can help companies future-proof their workforce by ensuring they have the right talent with the right skills to drive their business forward. But how can companies ensure they’re upskilling their employees properly? By using data-driven platforms and technology to create an ongoing process that keeps your team competitive and ahead of the curve.

In short, you need a digital LMS software.

Using a Skills Checklist to Identify Learning Gaps

In the world of education and professional development, identifying learning gaps in team members is crucial to achieving success. One tool that can aid in this process is a skills checklist. A skills checklist is a document that contains a list of questions or criteria that an observer uses to evaluate someone’s performance, skills, or behavior. It is a tool that enables the observer to record specific observations and identify gaps or areas for improvement.

One way to use a skills checklist to identify learning gaps is by evaluating team members’ performances against the desired outcomes or objectives. By doing so, gaps in skills, knowledge, or behavior can be identified, and areas for improvement can be pinpointed. This can be helpful in goal setting, planning, and overall skills assessment. For instance, an employer can use a skills checklist to assess the competencies of their employees, identify areas for improvement, and develop appropriate training programs suited to each individual’s needs.

Why Companies Need a Data-Driven LMS Platform to Understand Learning Needs

Traditional training methods are limited in their ability to effectively identify and address the specific learning needs of employees. Many traditional training programs rely on a one-size-fits-all approach that fails to consider each employee’s individual strengths and weaknesses. This approach not only wastes time and resources but also fails to provide employees with the skills and knowledge they need to perform their jobs effectively.

In contrast, data-driven platforms—like an LMS platform—can provide companies with valuable insights into the specific learning needs of their employees. By analyzing data on employee performance, training history, and other relevant factors, these platforms can identify knowledge gaps and provide personalized learning experiences tailored to each employee’s unique needs. This approach not only improves employee engagement and satisfaction but also helps companies achieve their business goals more effectively.

By tracking key performance indicators such as sales, customer satisfaction, and employee retention, LMS software will help companies identify areas where training is most needed and where it is likely to have the greatest impact. This information can then be used to design targeted training programs that address specific learning needs and support the achievement of business objectives.

Technology as an Anchor for Upskilling

Technology plays a critical role in upskilling employees by providing a wide range of training options that are convenient, cost-effective, and accessible to learners at any time, from anywhere. Online training, virtual classrooms, and other forms of technology-driven learning allow employees to learn new skills and improve their existing ones without needing to leave their workplace or travel to a physical training location.

One of the key benefits of technology-driven learning is the ability to personalize the learning experience to suit individual employee training needs, from the content to the modes of delivery and even the pace of training. Through an LMS, employees can choose their own pace, the modules they want to study, and the level of detail they want to go into, allowing them to tailor their learning to their specific needs.

Another significant advantage of technology-driven learning is the ability to track and measure progress easily. With the ExpertusONE learning record store (LRS), it is easy for managers to find, record, and manage all users’ learning experiences using Experience API (xAPI) standards. This is especially useful for training data that needs to be aggregated from multiple content sources. The LRS collects learning data from a variety of sources, including LMSs, content platforms, and even other LRSs. Then, it stores all the information from the learning interactions—eLearning, web pages, games, VR simulations, and more—in a consistent format.

This allows managers to monitor their employees’ progress in real-time, providing them with valuable insights into their employee’s strengths and areas for improvement. This information can then be used to create personalized learning pathways tailored to each employee’s needs, ensuring they receive the support they need to reach their full potential.

Technology has revolutionized how companies can upskill their employees. Through virtual training, gamified learning pathways, and other forms of data-driven learning, companies can provide their employees with convenient, cost-effective, and personalized training to help them stay ahead of the competition. With the vast array of resources available in an LMS, the possibilities for upskilling are endless, providing companies with a powerful anchor to support their growth and development.

Why Upskilling Should Be an Ongoing Process

Continuous learning and development offer numerous benefits for both employees and companies. For employees, it can improve job satisfaction, increase employability, and lead to higher wages. Companies benefit from upskilling by improving their competitiveness, enhancing their workforce’s capabilities, and reducing the need for external recruitment to fill skill gaps.

To make upskilling an ongoing process, companies can implement various strategies. First, they can establish clear learning pathways for employee advancement, including milestones for performance measurement. Second, companies can provide resources such as training programs, mentorship opportunities, and access to online learning platforms. Third, companies can incentivize employees to engage in upskilling activities by providing promotions, bonuses, or other forms of recognition for their efforts. Fourth, companies can integrate upskilling into their performance evaluation process and make it a key metric for employee development. Luckily, an enterprise LMS enables companies to do all of this with ease.

For example, a company can encourage its employees to pursue professional development by offering access to online courses or providing mentorship programs. They can also create internal training programs where employees can learn new skills and advance their careers within the company.

By creating an environment that fosters continuous learning and development, companies can not only improve their bottom line but also increase employee engagement and satisfaction. Beginning with conducting a future-skills analysis, companies can identify the skills needed for growth and success and upskill their teams to meet future demands. By future-proofing their workforce, companies can ensure they have the right talent with the right skills to drive their business forward.

Looking to conduct a future-skills analysis at your organization? Our LMS platform can help. Contact us today for a free demo.