Personalized Career Planning increases Employee Engagement

💡Online Learning is here to stay. The best way for organizations to win the loyalty of their workforce is to invest in their upskilling journey. Tech-driven skill gaps are becoming a prolific global concern - Both companies and their employees are looking for Personalized career planning and networking opportunities. As per hiring managers, management and digital transformation skills are the most sought-after skills, according to a new interesting research published by Emeritus - using data from 6,600 people between the ages of 21 and 65, across 18 countries and five continents.

✅Pandemic-era remote learning caused a fundamental shift in learner expectations

Researchers noticed that between May 2020 and January 2023, interest in fully online learning programs rose by 8.5%, and interest in hybrid learning programs rose by 17%.

Researchers found the Four Pillars of Online Learning:

1️⃣ Flexibility,

2️⃣ Convenience,

3️⃣ Affordability, and

4️⃣ Access

The growth of online learning is closely tied to technological advancements. And as today’s learning platforms are getting better, online education programs can provide an enriching as well as engaging experience that drives real learning for professionals of all levels.

✅Technology is advancing much faster than human colleagues

A uniquely dynamic and fiercely competitive labor market impacts learner motivations. Being ahead, or at least at pace with it, is now an urgent need. This study indicates that an overwhelming majority of global respondents (80%) believe continuing education distinguishes them in the job market, and 78% believe it gives them a competitive advantage. 

✅Employees seek "stability" in their work

Researchers noticed that the fear of being replaced by technology is real, and 53% of respondents feel they will become redundant if they don’t continue developing their skills.

But researchers found that 61% of employees said they would prioritize job and salary stability when considering new roles, underscoring the need for employers to provide clear growth paths. Job security and the opportunity to upskill follow stability in the list of motivations to upskill ahead of positive workplace culture and growth opportunities.

✅Learning Drives Stronger Employee Retention

What are the Key Motivations to Upskill?

For employers concerned about employee productivity and retention, investing in L&D is critical: 82% of respondents report higher engagement when learning new things, and 74% favor organizations that invest in their education.

✅New skills for an evolved workplace

Hiring managers are on board and increasingly inclined toward a more skill-based workforce (68%):

☝️ These results are aligned with the findings of Generation that we explored last week : this study found that employers that removed education or work experience requirements for entry-level tech roles, and replaced them with demonstration-based competencies, see a more inclusive recruitment process and attract more candidates.

List of the skills that hiring managers are looking for in 2023:

Researchers discovered that Management, digital transformation, leadership are some of the most coveted skills in a rapidly evolving world. Having knowledge of business analytics, project management, or even web development can help set you on the path of growth within an organization.

👉 Researchers noticed that hiring managers these days give almost as much importance to soft skills as to technical skills when hiring.

Along with data literacy and digital dexterity, the following skills are the most valuable soft skills to build the workforce of the future:

✔️Problem-solving

✔️ Productivity

✔️ Communication

✔️ Critical Thinking

✔️ Working Remotely

In addition to its importance in career progression, upskilling is an important way to future-proof one’s career against economic upheavals, job disruptions, and other shifts. 

✅Companies are looking for Personalized Career Planning and Networking Opportunities

Interestingly, the researchers found that the need for personalization in learning and their main desires are:

1️⃣ Personalized Career Plan

2️⃣ Network opportunities

3️⃣ Guaranteed Internship

4️⃣ 1:1 Career Coaching

5️⃣ Employer Introductions/Referrals

Education is not a one-size-fits-all, and professionals identified which priority levers they believe will be most beneficial in accelerating their learning and development. The best way for organizations to win the loyalty of their workforce is to invest in their upskilling journey. 

The results of this study highlight the huge opportunity that education programs provide for companies to increase employee engagement, drive retention and attract new employees.

Thank you 🙏 Emeritus researchers team for these insightful findings: Ashwin Damera Chaitanya Kalipatnapu Ashley Chiampo Ganesh S

Dave Ulrich George Kemish LLM MCMI MIC  

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