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While some corporations will operate profitably despite their best efforts to build reskilling programs, the cost of a failure to do so can be high. To begin, some new technologies are so disruptive that organizations must prepare employees as well as infrastructure and systems for the shifts they cause. As we’ve seen, workers are generally not that prepared for these changes, and some companies that fail to prepare their workforce will be forced to use expensive, disruptive measures to modernize their workforces. For example, the government must use the E-Verify program to ensure that every person working in the U.S. is authorized to do so, which costs the program approximately $4 million to $6 million per month. Organizations that fail to modernize their workforces by replacing people are likely to pay for it in the form of higher recruiting costs, overtime pay, or unnecessary hiring.
Respondents with well-prepared reskilling programs are more likely to say their organizations are prepared to deal with the workforce disruptions that will result from technology and market trends, but respondents with prepared reskilling programs are less likely to say that their companies are prepared for potential workforce disruptions from technology and trends. The greater organizational preparedness of companies with prepared reskilling programs suggests that building employees skills is a first priority for companies that feel these disruptions will affect their operations.
Organizations can develop their reskilling programs using a curriculum like that of the Resilient Leadership Institute, a free, online, eight-module program developed by the Ash Institute for Sustainable Innovation. The modules are available at the Ash Institute’s reskilling portal. Other reskilling curricula have been developed. Many are free, and some are intended for people who wish to improve their own skills, such as Heroku’s free initiative to help developers build mobile app skills.
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