There is an immediate need for greater investments in upskilling, reskilling
Priyanka Anand
We are in the middle of an enormous transition, as we see a steady shift towards industry 4.0. Combined industry forces have led to a fundamental change in the HR practitioners’ role. Workplaces have become more dynamic because of the process of digitalisation, an increase in the number of millennials in the workplace and dynamic business-customer relationships. This creates new challenges in workforce equations and relationships.
Digitalisation and emerging technologies have rendered the workplace 'smarter' with a growing simplification of technologies along with enhanced overall efficiency and productivity. In this fast-changing business environment, employees, especially millennials, are continually changing the way they view professional interactions and mobility opportunities. According to reports, a significant majority of millennials expect and even want to take up overseas assignments indicating a clear need for mobility.
Technology too needs to be integrated in HR to accommodate the ever-changing employee requirements. Digital communication channels that incorporate access to learning and development modules; open and transparent access to career opportunities, feedback sessions, HR best practices - all are small but significant ways by which organizations can more efficiently engage with a more ‘digital’ workforce.
With the digitalisation of networks, the telecommunications industry has undergone a colossal transformation. Digitalisation has proven to be the industry’s most powerful catalyst, driving big changes. It has ensured that businesses start thinking differently with an aim to constantly innovate and deliver best-in-class services to the end customer. With this constant advancement towards new emerging technologies, the world will witness a fourth industrial revolution, where experimentation on-the-edge, machine-learning, data crunching and automation will be the new norm.
Industry 4.0 will require a diverse and evolved set of skills. Individuals possessing the ability to upskill and reskill themselves will become the key enablers of business. In line with new emerging technologies and automation in the industry, the talent pool will not only need to understand customers’ needs, but also help simplify technology to accelerate their business growth.
With the advent of 5G and Internet of Things (IoT), the coming year will see a positive rise in the requirement of skilled network engineers. New roles will emerge in research and development, and analytics as we get closer to 5G deployment in the region. This will also require us to forge the right academic collaborations to identify a suitable talent pool for our requirements.
As per studies , two-thirds of the world’s population, including 90 percent of developing economies, is falling behind in critical skills. It is clear that a huge number of workforce need to be better prepared for future ready workplaces.
There is therefore an immediate need for greater investments in upskilling, reskilling and learning to ensure the workforce remain relevant and competitive. The current state of affairs indicates a critical need to upskill the workforce to drive economic growth and sustainability for future as well as current generations.
Technological innovation is opening the door to new growth models, creating more opportunities for businesses and economies to obtain skills of the future.
Organisations like Ericsson operate in an incredibly fast-paced, ever-evolving technical landscape. We are already equipping our workforce with the skills required for effective delivery of services to customers. This includes formal training programmes that provide technical teams the specialist knowledge and qualifications required. At the same time they also provide creative learning tools to encourage every employee to help achieve their full potential.
Organisations should capitalise on business opportunities created by technological advancements by investing in the upskilling of their existing employees. Personal and professional development should be of the utmost importance because employees regularly need the tools and knowledge to operate at their full potential, both inside and outside of the workplace.
Throughout an employee’s entire career journey, they need to be offered training and development programs personalized for each role, in order to provide employees different ways of achieving success.
The writer is Vice President and Head of HR, South East Asia, Oceania & India, EricssonSubscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.