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Newsletter Article

Member Benefit

Better Understanding Reskilling

Published Fri Aug 25 2023

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Reskilling is a major trend in today’s workforces, especially in response to evolving demands on workers due to technology advancements, with a focus on the rise of generative artificial intelligence (AI). Recent research conducted by the Digital Data Design Institute at Harvard’s Digital Reskilling Lab and the BCG Henderson Institute identified several key trends in reskilling. First, reskilling should be an essential response to new tasks and company needs, rather than just a reaction to layoffs or a public relations effort. It involves every leader and manager in an organization. It is a change-management initiative that assists individuals and teams in adapting to new skills or processes. For initiatives to be successful, business leaders need to communicate the benefits of reskilling to employees. Collaboration with government programs and industry coalitions can enhance reskilling efforts. The study also reveals a significant difference between reskilling and upskilling. Reskilling involves training workers in new skill sets that may be unrelated to their current role, while upskilling enhances existing skills within an individual’s current career path. The research concludes by emphasizing the need for companies to systematically and rigorously learn from ongoing reskilling investments to adapt to the rapidly changing technological landscape.

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