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Upskill and reskill like there is no tomorrow

Most companies live in the world where people can be pigeonholed into distinct job categories and stay there for a career. But that's not the world we live in today. The rapid pace of technology has made it essential for employees to continuously learn new skills and reinvent themselves to drive success in tomorrow's workplace. Accenture estimates that 2.4 million jobs will be destroyed by automation by 2035, but the report also outlines how 3.5 million new roles are predicted to be created at the same time. Thus, companies must prepare talent to reskill and upskill in order to meet demand while staying relevant as they move into the future of work with emerging technology such as 5G, artificial intelligence, augmented reality and quantum computing.

Workforce analytics is fast becoming a key enabler for reskilling and upskilling

Workforce analytics is fast becoming a key enabler for reskilling and upskilling. With addition of AI, workforce analytics has the potential to enable people to do the jobs they were meant to do, while helping them develop new skills. AI-powered workforce analytics can be used in the following ways:

  • To improve productivity by augmenting human activities with technology solutions that reduce repetitive tasks and increase efficiency (for example, chatbots or predictive analytics).

  • To free up time for strategic thinking by automating routine processes and enabling employees to focus on higher-value work (for example, machine learning).

Automation is driving new job categories and functions

AI is key enabler for re-skilling and up-skilling. As AI drives new technologies and processes, it also creates new jobs that we do not yet have the skills to create. This can be seen in many industries as companies retrain their employees or hire external resources to help them navigate this changing landscape. For example, there are now data scientists specializing in machine learning, who work alongside traditional IT professionals like systems administrators (Sys Admins) or database administrators (DBAs).

Some of these new job titles include: data scientist, DevOps engineer/developer, cloud architect/engineer; big data analyst; mobile app developer (and product manager), IoT architect/engineer; security specialist—to name just a few.

Disruption in business models means employees need to reskill and upskill faster to keep pace

The pace of change in business models is accelerating, with companies looking to AI-driven tools to transform workforce planning.

The fact that these disruptions are happening at a rapid rate means employees need to reskill and upskill faster than ever before – which is why Faethm is at the forefront of strategic workforce planning.

Companies are looking at AI-driven tools to transform their workforce planning

The current workforce planning approach is reactive. Companies have to wait until they need to hire new people before they look at the data and forecast future needs. It’s too late by then, because by the time you realize that there are skills gaps and someone has been missing from work for a long time, it may be too late to fill those gaps effectively.

In order for companies to plan ahead and make sure their workforce is in good shape for tomorrow, they need tools that allow them to understand what their future needs will be today or even months down the road. That's why AI-driven tools are so exciting; they allow companies to predict what their workforce will look like tomorrow—and take steps now so as not to get caught off guard when people leave or join later on down the line.

Companies need to evaluate automation constantly, not just annually

Automation is a constant, and companies need to evaluate it constantly, not just annually. They need to know what's working, what isn't working, what is changing in the market, what is changing in the workforce and business; and finally, what's changing in technology.

Faethm is at the forefront of AI-driven strategic workforce planning

Faethm is a strategic workforce planning solution that helps companies identify the skills needed for their future workforces and how to reskill the existing workforce to achieve their goals.

Faethm's AI-driven technology identifies skills gaps, automates skill forecasting, and recommends training programs to close those gaps.

In other words: Faethm takes the guesswork out of strategic workforce planning in order to help businesses make smart decisions about their future employees' education and development needs—not just today but years from now as well.

Change is coming, but Faethm can help with it

Faethm is the strategic workforce planning tool that identifies talent gaps, and helps you to create a plan to fill them. Use Faethm to predict what skills will be in demand in the future of work, by using data science and machine learning.

With Faethm, you can:

  • See what jobs will look like in five years time

  • Understand how different roles fit together within your organization

With all of these changes, it is important to remember that your company’s workforce can be transformed into an asset that grows in value as the world around you continues to change. Faethm’s AI-driven tools can help you do just this. Reach out today and learn how we can help your company navigate these new realities and build a more resilient and valuable workforce in the process.