What's Happening?
KPMG has emphasized the importance of workforce reskilling in the face of rapid technological advancements. According to the Future of Jobs Report 2025 by the World Economic Forum, 59% of employees will require new skills by 2030. The report identifies skills gaps as a significant barrier to business transformation over the next five years. Employers are increasingly seeking skills in artificial intelligence, big data, networks, cybersecurity, and technological literacy. To address these challenges, companies are turning to Learning as a Service (LaaS), a managed service that integrates continual upskilling and reskilling into daily work experiences. This approach aims to improve job performance, reduce training costs, and create a more resilient
workforce.
Why It's Important?
The push for reskilling is crucial as businesses face the dual pressures of technological change and the need for transformation. As nearly 90% of organizations are engaged in multiple transformation programs, the ability to quickly adapt and acquire new skills is vital for maintaining competitiveness. The demand for advanced tech skills highlights the growing importance of digital literacy in the modern workforce. Companies that successfully implement reskilling programs can expect improved operational efficiency and a stronger position in the market. This shift also has broader implications for economic growth, as a skilled workforce is essential for innovation and productivity.
What's Next?
As organizations continue to adopt LaaS and other reskilling initiatives, the focus will likely shift towards creating tailored learning pathways that address specific industry needs. Companies may also explore strategic collaborations to enhance their reskilling efforts. The success of these programs will depend on the ability of learning and development departments to keep pace with evolving job requirements. Additionally, businesses will need to invest in the necessary infrastructure to support large-scale reskilling efforts. The ongoing challenge will be to ensure that employees are equipped with the skills needed to thrive in a rapidly changing job market.
