Realise that learning is a continuous process. Companies should analyse technologies that will impact their business and their industry. But should also be aware that these technologies will evolve continually. To handle this learning should also be continuous. Walmart, for instance, has set up more than 100 “academies” in the US that provide continual classroom and hands-on training for various positions. Having the right talent in place is critical to the prospects of any organisation.
Make arrangements for just-in-time learning. Learning works best when people can apply their new-found knowledge and skills almost immediately. Organisations should identify the skills that employees will need in their immediate role. This also helps employees appreciate the value of the training and be open to future upskilling. NUS Business School offers a 3-day course, Leveraging Fintech for Business aimed at leaders and managers, to explore the business impact of Fintech – aimed at entrepreneurs and mid-career financial professionals who wish to upskill and those who are impacted by Fintech. Organisations can provide employees with on-demand learning tools and resources. Tools like mobile apps and online courses can help employees to learn and grow and allow them to engage with the program at their convenience and at their own pace instead of forcing them to adhere to a pre-planned schedule.
Partner if you do not have the right training process. An organisation cannot always be expected to have the right training resources available in-house – it might also prove to be expensive in the long run. Organisations that lack expertise or do not have enough resources to train and reskill employees, should partner with technology providers and dedicated external training programs. SkillsFuture in Singapore has partnered with IBM to train 2,500 Singaporeans on AI skills within the next three years, in a bid to help them apply AI in areas such as human resources, supply chain management, and media.
Technology-enabled automation will displace some workers while at the same time provide a platform for them to grow their careers and play a larger part in the success of the organisations. Companies can enable this transition through investments in training and education and provide a platform for workers to transition to new jobs. With the right tools, companies can continue to forge a long-term and mutually beneficial association with their employees in the face of rapid and increasing digital transformation.