Rapid technological advancements and digitization in recent years has led to the need for new skill sets in order to manage new age technologies in IT, Telecom, Automation, Data Science, Machine Learning and AI.
According to NASSCOM, 40% of India's total workforce is in need of re-skilling in the next five years in order to keep up with emerging trends, namely Artificial Intelligence, IoT, Machine Learning and Blockchain.
Due to the increasing demand for specific skills, attracting and retaining talent is becoming costly business. As per Accenture's report on Fueling India's Skill Revolution. we stand to lose a $1.97 trillion GDP growth through investments in advanced technologies in the next decade if we don't address the skills gap.
Organizations can address Skill issues through effective learning and development (L&D) programs and leverage learning technologies for scale. Technologies like Artificial Intelligence (AI, AR/ VR and Blockchain have the potential to enable learning quickly, efficiently and in a cost effective manner.
Here are six ways organizations can leverage technology for learning and skilling-
1. Mobile Learning
With the global workforce expected to be 75% millennials by 2025, (Generations-Demographic Trends in Population and Workforce), Mobile learning offers a low cost solution and provides easy access anytime-anywhere, and just-in-time. In a survey conducted on Mobile learning, 82% of organizations said "mobile learning has enhanced employee efficiency and 76% credit it for improving business results. "
2. Personalized Learning
Many organizations are adopting personalized learning as a preferred way to deliver trainings. The World Economic Forum finds current learning methods are 'inadequate' to prepare for future needs. Moreover, learning technology tools and LMS' are able to use advanced technologies to assess and track individual learning patterns to tailor learning programs according to each person's needs. With lack of employability a major concern in india, the concept of adaptive learning or personalized/ tailored learning is increasingly being seen as a promising trend, according to Courseware World.
Gamification is a great way to drive engagement in learning programs. Fitness First India leveraged a game-based model in their LMS to drive the adoption and usage of the LMS platform for learning and communication. They introduced a leaderboard an game mechanics to rewards learners with badges and points, making it a competitive learning and engagement tool.
4. Social Learning
Social Learning encourages collaboration between teams. Many learning platforms offer social learning features like discussion boards, and serve as a great way to solve difficult problems collaboratively and identify 'experts 'within the organization. Social Learning ensures knowledge sharing happens across all teams encouraging a continuous learning culture.
5. Skill Development
LMS platforms help identify core competencies and skills-gap, and in planning learning interventions. For example, an LMS can help with Compliance Training and Continuing Professional Development through continuing learning opportunities.
6. A Complete Learning Ecosystem
An efficient LMS can provide a complete Learning Ecosystem and help employees throughout their organizational lifecycle. A learning ecosystem has many advantages, including-
- Integrating learning delivery processes and standardizing systems' processes
- Facilitating knowledge collaboration, social learning, performance support etc.
- Creating a unique and continuous learning environment
- Enable the L&D function to be Agile.
In today's highly competitive corporate landscape, it has become increasingly difficult to analyze the value of learning technology. Thus, the ability to be flexible with the learning setup has become business critical.
To learn more about how you can empower your employees with effective learn-tech adoption and drive maximum business impact, download the 'LMS for Employee Skills Management' EBook now!