Reskilling: Why is the Job Market in Crisis?

Reskilling: The Job Paradox

In 2023, Italian companies planned to hire 5.5 million people. In the same year, the unemployment rate in Italy was 1.9 million. So, there seem to be three times as many job openings as unemployed people. How is that possible?

The Data Here: Sole 24 Ore

Reskilling: What is Skill Mismatch?

The problem is very simple: jobs are available, but there are not enough qualified people to fill them. This phenomenon is known as skill mismatch, meaning a gap between the skills required and the skills actually possessed. The solution is equally simple: upskill or reskill workers.

Reskilling: An Operation Involving Everyone!

Skilled workers remain rare. This is why all companies, even those not hiring new external talent, must focus on training their existing workforce. We cannot risk losing valuable employees.

According to the World Economic Forum’s data on the job market, 44% of current jobs will be replaced. Therefore, it is crucial for companies to start training their staff now, even for new types of jobs.

Reskilling: Step by Step

Here are the areas where reskilling is most needed:

• Data Anlysis
• AI
• Sales & Marketing
• Sustainability
• Social Awareness

Step 1: Don’t Delay!

The technological world moves at an incredibly fast pace – and even worse, it’s accelerating! No one person can keep up alone. Therefore, reskilling must be immediate and involve all levels of the hierarchy: from senior managers to junior managers to employees.

Step 2: Set Objectives

Invest resources in understanding which skills are most urgent for your company and how to acquire them. Set specific and measurable learning goals. For example, “At least 25% of my organization should be able to use tool X.”

Step 3: Choose an Appropriate Learning Path

There are four key criteria that predict the effectiveness of a course:

• Interactivity
• Amount of knowledge covered
• Applicability of knowledge
• Results

Is there a course that meets all four of these fundamental criteria? We at Wibo think so.

Step 4: Test, Ask for Feedback, and Repeat

Start immediately by conducting a baseline assessment of the skill levels within your teams. Besides the training itself, set the goal of monitoring progress every 3-6 months to assess any improvements in skills, and decide whether to continue with the chosen learning path or switch to another one.

Don’t underestimate the judgment of individuals: ask course participants directly for feedback on whether the training is useful or not!

Conclusion.

We cannot afford to neglect training, now more than ever. The risk is not only losing people with valuable skills but also failing to find new ones. So let’s roll up our sleeves and think together about the skills we need most starting today.

See you next time! 👋