One of the most pressing challenges for companies today is that of developing effective corporate upskilling strategies, as staffing levels have decreased significantly, and the gap between the skills needed for the rapidly changing market and those of existing talent continues to grow.
Employers’ and employees’ focus is on retention and job stability respectively, and so upskilling has become a necessary and increasingly strategic element for all business parties. And because the same strategic aura surrounds corporate sustainability, today we want to focus of how corporate upskilling strategies may benefit form including sustainability within them.
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The importance of corporate upskilling strategies
The need for developing upskilling strategies has been on the rise for a quite a few years now, with the pandemic being a relatively crucial inflection point for this particular matter, as well as many other business-to-employees related concerns.
Long gone are the days of the so-called ‘great resignation‘, instead, employment rates have significantly decreased, and so has employee turnover. Upskilling matters have, in fact, made it into top corporate priorities, where employers are now focusing on retention and employees prioritize job stability.
And although this is not a new problem, the rapidly evolving technological advancements and the continuous market and regulatory shifts have put more strain in companies’ ability to ensure their workforce remains adept with the latest skills and knowledge.
Engage employees in the sustainability strategy
All in all, corporate upskilling strategies help companies undergo and adapt to changes, seize new opportunities, and maintain a competitive advantage while improving employee engagement and retention.
At a time when talent acquisition is highly competitive, companies that invest in the continuous learning and development of their employees will reduce turnover rates, and manage to create a stronger organizational culture.
The rise of 'green upskilling'
While new technologies like AI or big data remain crucial topics to work on for most companies within their upskilling strategies, sustainability is slowly but steadily making a similarly important and strategic entrance with so-called ‘green upskilling‘.
Because, while the demand for sustainability trained professionals is high, not that many people are actually trained or experienced enough for how fast the regulatory landscape has been changing in recent years. This makes green upskilling a necessary part of companies’ upskilling strategies, focusing on enhancing employees’ knowledge and skills related to sustainability.
Why is employees' sustainability knowledge important?
Here are a few reasons why companies need to consider and introduce sustainability into their corporate upskilling strategies:
- Regulatory Compliance and Risk Management: As governments and international bodies enforce stricter environmental regulations, companies need employees who understand and can implement sustainable practices to comply with these responsibilities. Green upskilling ensures that employees are equipped to help their organizations undergo and manage environmental, social and governance risks and opportunities effectively.
Employee Engagement and Retention: Employees increasingly look for workplaces and an organizations culture that reflects their values, including a commitment to sustainability. Providing green upskilling opportunities shows that a company values environmental stewardship, which can enhance employee morale and loyalty. It goes without saying that engaged employees are more productive and are more likely to stay with a company in the long term.
Cost Efficiency and Resource Management: Sustainability knowledge can enables employees to identify and implement energy-efficient and resource-saving practices. This can lead to significant cost savings for the company by reducing waste, optimizing resource use, and lowering energy consumption, for example. Employees who are trained in sustainability are more likely to drive initiatives that lead to long-term sustainable economic benefits for the organization.
The future of corporate upskilling strategies
According to the ‘Future of Jobs Report 2023‘ by the World Economic Forum, an estimated 23% labor market churn is expected by 2027, with a significant increase in both technology and sustainability jobs. The report also highlights that up to 44% of workers’ skills will be disrupted, further emphasizing the importance of upskilling strategies focusing on big data, AI and sustainability.
The future of upskilling is strategic to companies’ long term success, as these strategies are the only thing that can guarantee employees and their skills are aligned with the increasing global emphasis on environmental responsibility.
In the fast changing world in which we live in, and the volatile market in which companies operate, investing in helping individuals align and adapt to changes is the most profitable way to ensure the business’ survival and competitive advantage.
Guide to transform sustainability into an employee benefit
The need to engage employees in the sustainability strategy
Upskilling employees in sustainability matters can take many different routes, from professional training, to focus groups or even webinars, but the most important thing is how these are presented. Often times, if employees see their training as an obligation and a burden, the lack of engagement may result in poor knowledge and skills.
However, before developing upskilling strategies, companies need to look for engagement and collaboration strategies in an effort to ensure the success of the aforementioned corporate upskilling strategies.
In DoGood, we aim to simplify the complex web of sustainability objectives for companies by offering a platform that translates the high-level ESG (Environmental, Social, Governance) objectives into actionable tasks for every single employee.
Then, each employee not only knows how to make an impact but also feels empowered to contribute meaningfully to the greater sustainable strategy.
No more vague directives. No confusion. DoGood automates the process, making it seamless for the workforce to know precisely what steps to take.
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