To Remain Competitive, Train In-House

As tech skills gaps widen, many organizations are realizing that offering technological training in-house is often a faster, more cost-effective solution than hiring someone with the right skills from the outside. There are numerous benefits to be gained from approaching the problem from this direction. Employees can work with real-world problems they’ll experience in their day-to-day jobs, the organization can foster a culture of learning and professional development, and turnover rates will be decreased. These are all positive outcomes; however, it should be noted that most importantly, training employees in-house will help the organization keep up with the rapid pace of change. John Schwartz of Visier notes the current pace of change businesses must respond to is completely unprecedented. Reskilling employees wherever possible instead of laying them off is critically important if an organization wants to remain nimble. This can also have tremendous returns in terms of loyalty and preventing institutional knowledge from walking out the door.