The skill gap is real: Nearly 90% of global executives say they are now or soon expect to be facing capability gaps in their workforces. That means organizations face mounting pressure to precisely identify skill gaps and then fill them through upskilling, reskilling or new hires.
Traditionally, most companies relied on skill inferences — the process of deducing what skills employees have based on education, work experience or performance. But with skill needs changing quickly, this approach has significant limitations.
Fortunately, verified skills based on digital credentials enable employers to objectively design strategic skill development initiatives. Digital credentials that signal verified skills fuel high-impact upskilling and reskilling.
To truly grasp the evolving needs of employees in today's dynamic work landscape, understanding its key drivers is crucial.
In a world marked by rapid technological advancements, employees must constantly adapt to new tools and digital platforms. Generative AI is expected to affect 300 million jobs, with Pearson’s research showing that around 30% of white-collar roles could be accomplished by generative AI. Upskilling in areas like data analysis and artificial intelligence has become essential to meet the demands of the digital age. Organizations must cultivate a culture that embraces these changes and supports employees in acquiring the necessary skills to thrive.
Moreover, soft skills are increasingly valued by both employers and employees, as evident in the latest Pearson reports, like problem solving, critical thinking, teamwork and leadership. These interpersonal abilities are vital for building effective teams and delivering exceptional customer experiences. As organizations prioritize the human element in the workplace, investing in the development of soft skills has become integral for long-term success.
Additionally, individuals themselves are eager to learn, with a significant majority expecting continuous learning opportunities throughout their careers. With preferences leaning towards employer-provided learning, organizations must adapt to this shift in the skills-learning landscape to ensure a future-proofed workforce.
However, many organizations still lean on workers self-reporting their skills and proficiency levels rather than utilizing more reliable methods for skill validation. This approach becomes problematic, especially considering that only 39% of workers strongly agree they possess a comprehensive understanding of their skills and capabilities.
Relying solely on inferred skills without accurately identifying those in need of development and for recruitment can hinder organizational progress.
Relying solely on résumés and experience can be a gamble. Verified skills, such as through digital badges offer a strong foundation for confident decision-making around professional development. Consider these advantages:
Digital credentials are electronic proofs of an individual’s competencies and skills. They contain metadata that allow employers to verify authenticity and learn more about how a skill was learned.
Digital badge platforms like Credly offer robust features to verify and manage skills:
Verifying workers’ skills with digital credentials goes beyond improving assessment. These credentials can increase employee engagement through recognition, boosting motivation and employee retention.
Digital badges are recognition for participating in training, so they encourage continuous learning and development. Plus, they can foster diversity and inclusion, as they reduce bias when assessing qualifications for hiring and advancement.
Explore further benefits of digital badges in our whitepaper, 'Strategies for Overcoming Challenges in Employee Upskilling and Reskilling'. Complete the form below to download.