Why Taking the “Skills Boat” is the Best Bet to Ride the Tech Wave
The world is constantly re-inventing itself. Today technological advancements have not only redefined the way we work, interact, and connect, but also paved way for a better future. In 2020 especially, the whole world underwent a massive technological transformation. The COVID-19 pandemic and the subsequent lockdown led everyone to explore new ways of working and staying connected. Every sector had to adapt to an ever-changing environment like never before. Evolving business requirements and changing consumer sentiments/ habits have led to digital solutions gaining more and more prominence. Further, the pandemic has also accelerated the overall digitalization process, all of it characterized by immense speed, agility, dynamism, and humanism.
In all this, the IT and digital industry has been at the core, supporting seamless digitalization. The transition from legacy to new-age digitalized processes has driven significant growth for the industry. Such a shift has also led to a change in the demands and requirements set by ‘new-age’ customers. Earlier, organizations relied heavily on the on-premises physical data centers, which came with their own set of requirements, costs, and challenges. With the evolution of cloud-based servers, enterprises have chosen to migrate from their on-premises data centers to cloud. This is one of the few examples of evolving trends that have fueled the need for niche skills.
Taking the ‘skills boat’ to ride the tech wave
Technology is changing every day, and to keep up with the pace of the change, individuals and organizations have to focus on upskilling. Sector specific transformations driven by rapid digitalization have completely transformed the consumer experience over the years. For instance, in banking, there is a shift from paper-based processes and long queues to digital banking platforms. This shift requires technology employees with vertical-focused specialized skills in finance domain - leading to the creation of the ‘fin-tech’ domain.
In a nutshell, the key driver to large-scale implementation of great digital innovation has been the upskilling & reskilling of IT employees – a large part of which has been driven by self-learning platforms and organizations themselves.
Reinventing Leadership in the New ‘RUPT’ World
However, in this Rapidly changing, Uncertain, Paradoxical and Tangled (RUPT) world, where we are attempting to skill and re-skill ourselves to adapt to the circumstances, as leaders, it is essential to provide the much-needed support and guidance in sync with the demands of the new normal. Hence, reinventing leadership with the right skill sets such as curating a purpose-driven yet empathetic mindset, gaining clarity of vision, courage, grit, determination, and sound knowledge of the operating environment & emerging technologies is imperative.
While digitalization has grown by leaps and bounds - few questions that remain under consideration are whether our education ecosystem has kept pace with such rapid transitions? Have our universities produced professionals equipped with relevant skills that the industry requires? Numerous universities today are collaborating with the industry, as well as driving new-age skills related courses to better equip their students. But, there still remains a lot to be done in the formal education space to meet the constantly evolving demand of niche skills professionals.
Emergence of the Ed-Tech Universe to Enhance Skill Development
Every challenge is an opportunity. The birth of Ed-Tech as a domain and the resultant growth of e-learning platforms stands witness to such success. Self-learning platforms have aided the era of upskilling by offering not just courses but also skills vetted as the best by the norms and requirements of the industry.
Such platforms help learners develop a comprehensive understanding of the skill, its nuances and real time application in the current market scenario. They also come to the learner as great advantage since they can be availed and accessed at any point, with time not being a barrier. The courses offered are a great value addition to the learners as they are affiliated with leading global universities.
Upskilling – a blue chip investment!
Given the need for niche skills in this competitive landscape, organizations are now themselves building ecosystems to provide continuous upskilling for their employees to stay agile and relevant. They no longer view upskilling as a cost, but as an investment. With the demand for talent now being termed as the ‘War for Talent’, it is imperative for organizations to curate policies, programs, and designated centers that nurture and build an effective learning ecosystem within the organization, which not only benefits employees, but also helps them meet the rapidly changing client requirements.
In the post COVID-19 reality, upskilling along with an enabling ecosystem will become a key differentiator for organizations to retain and make the talent thrive. Every new generation of engineers, innovators and entrepreneurs are now more and more aspirational and willing to invest in their future. It is our responsibility – the organizations, educational institutes, and the Ed-tech space – to ensure that we become the wind beneath the wings for these future generations.
By Harshvendra Soin, Global Chief People Officer & Head – Marketing, Tech Mahindra