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10 Year Anniversary

Updated: Nov 20, 2023

It’s been a long time since the COVID-19 pandemic. While scientists are working on COVID-19 vaccines and healthcare experts are working to stop the spread of the outbreak, the commercial world is grappling to figure out the financial implications of the virus on their business. In the end, no company will be the same after such a pandemic, and it will entirely revolutionize others.


Employee reskilling and adjusting to a new job environment will speed up business transformation efforts and build a digital business model to withstand the global epidemic. Companies will stand a better chance of recovering from the crisis and coming out at the top.




Identify the skills required for your recovery business model.

Companies must map out the skill pools and value drivers that will mainly affect the business’s development as they decide on measures to secure its future. Specify how such roles contribute to value generation and imagine how the day-to-day work may evolve due to shifts. Determine which changes in activities, behavior, and abilities are required.


For instance, your IT team and logistics coordinators will significantly impact the new approach if you are transitioning from in-store sales to primarily home deliveries. They may also require a unique digital skillset to meet the increased demand and client expectations.


Build employee skills critical to the new business model.

Develop technical awareness and abilities so that employees may fully function in the remote world and be productive within the company’s ecosystem, such as with partners, customers, suppliers, and government agencies. For example, migrating to more automation and data-enabled models may require a fundamental understanding of key tech and data concepts and processes, such as applied machine learning, data visualization and analytics, and intelligent systems.


Act like a small company to have a big impact.

According to the global survey, reskilling initiatives at small firms (fewer than 1,000 workers) are generally more successful than those done at larger firms. This may surprise some, given that larger organizations typically have access to greater resources.


Smaller businesses easily adhere to agile principles, making big moves more rapidly since they don’t have to relocate many workers to try something new. They also have fewer permission layers to go through. Also, they typically have a clearer picture of their skill deficits, so they are better at prioritizing key gaps that need to be filled and identifying the proper people for reskilling.


Realistic Learning Budget.

Improve the robustness of your learning ecosystem by making it accessible to your employees, more digital, and self-paced. In addition, use external partners’ ready-made educational journeys and objects.


Conclusion.

As we have learned from previous catastrophes, companies must promptly establish crucial worker competencies with adaptive abilities to respond to events. The coronavirus pandemic has exacerbated a trend in workplace dynamics that had already begun due to artificial intelligence, digital automation, changing worker responsibilities, and shifting marketplaces. A business cannot be resilient if its workforce is not. Therefore, building the reskilling muscles is the first step toward securing the success of your firm’s recovery business model.

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