A report by Skillsoft reveals Australian and New Zealand workers believe they are not prepared for the future of work. Many employees think they are underskilled and that their employer has failed to provide adequate training.
Skillsoft’s Mind the Gap report surveyed 1,000 employees across Australia (855)/New Zealand (145) about their readiness for the future of work.
Six in ten respondents reported they would need to learn a new skill in 2019 to remain confident in their role. Approximately half (55 percent) of the respondents are concerned about not receiving the learning, development and training they need from their organisation to remain employable and skilled in the future.
The majority of employees (79 per cent) said they would like more opportunity on the job for training, earning and upskilling. While nearly nine in ten (89 percent) respondents agree the future of work is nothing without training, learning and development. Four in ten employees also believe they are under-skilled to meet existing business needs.
Rosie Cairnes, Regional Director of APAC, Skillsoft, said the issue was concerning for businesses and employees alike.
“We are quite shocked by the level of concern and unpreparedness among employees. Training, learning and development is critical to technology-enabled workplaces, yet many organisations are failing to deliver enough.
“This is not just a ‘future’ problem, it is happening now. Continuous, personalised, on-demand learning that allows individuals to curate their own learning journey in a way that is responsive to the needs of their role, at their own pace, must become standard across all businesses – large and small,” cairns said.
All this lack of skill is affecting employees’ career progression. 92 per cent of respondents believe employers look externally instead of internally when filling new roles or senior positions because they have failed to implement appropriate learning and development programs to reskill or upskill their existing employees.
Cairnes suggests this skill shortage is draining on a business’s bottom line.
“Hiring is far more costly than training, and organisations are already grappling with a skills deficit in the jobs market. Failing to invest in employee development also has a huge bearing on job satisfaction, morale and retention,” Cairnes said.
“Many organisations are missing out on the positive financial impact and increased performance associated with upskilling their employees to take on new roles. This report should act as a wake-up call for businesses. They need to invest now in learning and development to ensure they are able to rapidly allocate their talent to meet their business requirements and enhance the employment experience of their people.”