COVID-19 accelerated what was an already rapid digital evolution of internal business operations and external consumer preferences. As companies digitized quickly, in some cases overnight, to enable a newly remote workforce, employees across industries found themselves navigating a new day-to-day reality—one they didn’t always have the skills to thrive in.
Many companies acted quickly to invest time and energy into upskilling and reskilling their workers. It’s not an easy undertaking. Even before the pandemic, “the need to upskill workers displaced by technology was considered ‘the challenge of our times,’” according to Fortune. But businesses that prioritize the development of their employees stand to benefit from a workforce better suited to maximize its potential and take advantage of new, differentiating strategies and technologies. Upskilling also increases employee retention and morale—a critical consideration given that one in four workers is planning to look for a new job once the threat of the pandemic has subsided, according to Prudential Financials’ Pulse of the American Worker survey.