Talent acquisition tailored: Fill the skill gaps sustainably

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Featured in Data Quest

While we generalize the talent crunch as a shrinking supply of candidates, it often boils down to the shortage of talent that can hit the ground running. Organizations today are in perennial need of an up-to-speed workforce that’s adept at the in-demand skills of today. Technology is evolving constantly and so is skill relevance. In the middle of such a major shift, HR and talent acquisition teams often find themselves in a lurch with the business. Under the pressure of sourcing quality talent from the market, recruiters have already hit a dead-end as they have exhausted all existing talent pools. Turning to educational institutions has been futile due to their dated and sluggish approach to enhancing their syllabus offerings with more new-age courses. What’s next? Is there a better solution out there?

Hire-Train-Deploy (HTD) shaping the future of work

Skill gaps and The Great Resignation are no foreign foes to HR professionals, making it almost impossible to both recruit and retain the right talent. More than 85 million jobs are projected to remain vacant by 2030, costing about $8 trillion to businesses. The Hire-Train-Deploy model, prolific in IT and BFSI sectors, has helped many a hiring manager to breathe a sigh of relief. Leveraging this model, employers can access the untapped talent pool, ignored majorly because of “lack of job readiness”. A well-planned HTD solution is highly customized to provide hands-on domain-centric experience to candidates, to get them started in their roles. With the right HTD partners, employers can co-create a tailor-made talent acquisition strategy with long-term impacts.

What makes HTD impactful

The HTD model takes control of the key steps in talent acquisition, i.e., Sourcing, Screening, Hiring, Training and Deploying. Training in this model creates output similar to apprenticeship programs but at a much faster pace. Having candidates shoulder-surf while others work, goes only so far. However, in well-implemented training, special emphasis is laid on practical hands-on training to hone candidates with the related technical instruction (RTI). The model plays a crucial role in accelerating candidates’ journey from campus to corporate. Its “hire first, train later” approach has proven instrumental in motivating candidates and showcasing that the company is willing to invest and nurture them right from Day 1.

HTD zeroes in on building domain-specific skills in cybersecurity, cloud computing, Big Data, DevOps etc. across e-commerce, IT, healthcare, IBFS, and more. Platform-based skills too are integral to the program which focus on giving candidates practical exposure to and experience in emerging tools and technologies. Technical training apart, the courseware and curriculum take behavioral and soft skills into account as well.

Only gains for the employer

But how relevant is it to most hiring managers and business leaders? The short answer is, extremely. For employers looking to hire entry-level candidates, this can be the perfect way to tap into the young minds that come prepared for their jobs. An employer-focused solution, HTD relies purely on the outcome, bringing quality candidates to the forefront. It elevates the employer’s value proposition by upskilling candidates from diverse backgrounds, creating a heightened focus on inclusivity. Globally, the success rate of the Hire-Train-Deploy model has been remarkable for adopters across industries. At an age where new skills are taking over the old ones at lightning speed, it saves the workforce from becoming proverbial dinosaurs by helping them catch up to the existing and upcoming standards.

Industries across the board are benefitting massively from well-thought-out HTD programs. Along with metropolitan candidates, it takes the untapped talent bubble from tier 2 and tier 3 cities into account, bringing down recruitment costs significantly down. From early diagnosis of skill gaps to ideating actionable solutions and executing them from end to end, it lends new visions and readiness to the talent acquisition process.

What it means for employees

From the employee standpoint, the Hire Train Deploy model is a good resolution for entry-level and mid-level candidates aiming to build a long-standing career. It helps them reskill and upskill themselves as per the market demands and create the output that the business demands. As broached already, it offers equal opportunities to a diverse pool of candidates to shine and spearhead their professional goals. They can overcome their weaknesses using the curriculum under these programs and increase their employability score. Over 10,000 graduates have set their careers in motion by being part of the HTD program in the US. HTD is committed to solving an underserved talent program, mutually benefiting the candidate as well as the employer.

Results are numerous. Most important and relevant today among them would, undoubtedly, be lower dropout rates and lower attrition rates. While hiring managers across the globe scratch their heads over reining in both these figures, the Hire-Train-Deploy model is enabling companies to tackle the talent crunch by widening their candidate funnels.

Veer Taneja
October 14th, 2022

Upskilling | Workforce transformation | Talent retention | Learning and development

Tech-Friendly Talent: The Key To A Smooth Digital Transformation

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Veer Teneja

Vice President – Training Solutions
[email protected]
/Veer Taneja

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A dearth of relevant digital skills can prove to be a a hurdle for your overall digital transformation goals. Learn why developing an efficient and effective talent body is critical to address future disruptions. COVID-19 took the world by storm as it brought with it a plethora of challenges that changed the normal course of life. Amongst many things, it went on to spur digital transformation (DX), pushing organizations to adapt to the new age models quicker than ever before. During the pandemic, a majority of consumers have adopted digital ways, forcing businesses to digitize their core internal operations, customer interface channels and supply chain interactions. Technological advancements such as analytics, artificial intelligence (AI), and automation have played a vital role in improving organizational productivity levels, allowing companies to effectively meet customer demands. However, enterprises face several challenges due to the drastic digital disruption. Due to lack of qualified talent, digital transformation has been an uphill climb. Those who managed to secure quality talent now anticipate a pause in their transformation journey due to an increasing gap between the demand and supply of future-forward talent.

Skills gap: The barrier to progress
A report by McKinsey Global Institute in 2017 stated that by 2030, nearly 375 million professionals (14% of the global workforce) will need to upgrade their existing skills or acquire a new skills set due to AI and automation. Another McKinsey survey on future workforce needs has shown that almost nine in ten managers admit to having skill gaps in their firms and expect more of such gaps to surface within the next five years.

The talent crunch situation is likely to get worse in the future because of the mismatch between skills training that is delivered and the goals for professionals development. The existing training programs may cater to the current work situation and might be left rendered useless in the coming future. Here are some of the major challenges that organizations are facing while searching for quality talent with DX-related skillsets:

  • The skills in demand required by enterprises today are significantly different from what they needed earlier.
  • Since many DX implementations are new to enterprises, not many technology resources have had practical experience through capstone projects.
  • The demand for highly skilled professionals is way more than the supply of experienced professionals. Thus, creating the risk of such skilled resources being pilfered by competitors.
  • Traditional practices of recruitment are left ineffective when hiring people for managing the diverse processes and technologies
  • Current workforces must also modify themselves to sustain in an evolved ecosystem where man and machine join hands to collaborate on tasks.

This has resulted in a huge shortage of skilled professionals with appropriate credentials in such areas.

Addressing the lack of DX skills
In today’s dynamic technology ecosystem, a mere college degree cannot ensure a lifelong, successful career. Upskilling and reskilling not only help professionals future-proof their careers, they also reduce the existing gap between demand and supply of skilled workers.

Employee development programs offering exposure to authentic business environments can provide enterprises with stability and the much-needed confidence required to work with technology.

Some of the suggested strategies that help organizations safeguard themselves against shortage of tech-friendly talent shortage include:

  • Identify skill gaps that existing in your organization’s ecosystem.
  • Make learning and development a continuous initiative in the organization.
  • Decide on both short-term and long-term needs on the basis of future tech investments
  • Determine if the skill gaps that can be filled by leveraging training and development or by recruiting new talent
  • Invest in a comprehensive training program for skill development or upgrade.

Organizations that are denying the continuous learning to their workforce will find it tough to sustain in this era of machines, AI and automation. By joining hands with a strategic workforce training solution provider like NLL Academy, find the ideal way to digitally upskill your teams and address the wide DX skills gap.

Have a question? Reach out to us to improve how your employees learn, upgrade their skills and adapt to your exclusive transformation needs.

Upskilling | Workforce transformation | Talent retention | Learning and development

5 Ways To Achieve An Effective & Efficient Corporate Training Program

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Veer Teneja

Vice President – Training Solutions
[email protected]
/Veer Taneja

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Learning leaders today are striving to adapt to a new ecosystem disrupted by technology. Training initiatives must be aligned with organizational objectives, participant expectations and digital innovations.
Training practices that stand alone often fail to address comprehensive business needs. The requirement for effective, continuous training that can be delivered virtually has become a necessity with today’s remote working culture. So how can Learning & Development leaders make corporate training programs more impactful? Let’s find out.

Understanding Needs
To begin with, determine the prevailing gaps between the business growth requirement and the skills of employees. A Training Needs Analysis (TNA) allows identification of these gaps. It also enables managers to figure out the current capacity of their workforce and their ability to upskill while consequently driving business growth. This is the first step towards coming up with an apt training plan that will ultimately improve the knowledge retention rate of employees.

Interactive Content
A well laid out employee training program should incorporate real life scenarios and practical applications of concepts in order to achieve excellence. The concepts covered should be easily comprehensible and simple to navigate and must encourage engagement and interaction. Creative formats that are highly engaging and user-friendly would create a stimulating environment to foster learning.

Long-Term Planning
Learning programs should be planned keeping in mind their long term effect on employees. These programs must promote continuous learning even after the training period is over. Post- training learning support should be made accessible through portals with relevant content and assessments. Keeping track of whether employees are applying the skills they were trained on will help build future-forward competencies and prepare professionals for futuristic roles.

Befriending Technology for Flexibility
Interactive training methods that make use of technology have made corporate training an easier affair and proven to be more engaging. Technology can be leveraged at every phase of the training process. Pre-assessment tools allow employees to prepare for the learning of new concepts, learning management systems allow room for smooth experiential learning programs and post-training learning portals with centralized content repositories help students retain their learning long after their programs have been completed.

Determining Program Effectiveness
A consistent evaluation of performance throughout these programs can help throw light on skills gaps, improve strategies and lead to optimization. Such assessments usually encompass both HR and business perspectives. The HR aspect of it can involve measures such as reduction in hiring costs, speed of training completion and satisfaction and retention of employees. The business assessment can analyze advancement in technology skills, improvement in business communication skills and comprehension of business fundamentals. Opt for blended training programs that consist of a mix of traditional classroom experience as well as technology. These help enterprises maximize the training output and return on investment.

Have a question? Reach out to us to improve how your employees learn, upgrade their skills and adapt to your exclusive transformation needs.

Upskilling | Workforce transformation | Talent retention | Learning and development

Why Certain Corporate Training Programs Fail To Deliver

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Veer Teneja

Vice President – Training Solutions
[email protected]
/Veer Taneja

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In 2020, organizations spent more than $82.5 billion on corporate training programs that were aimed at increasing employee productivity and bridging organizational skill gaps. Executives assigned huge budgets towards learning & development programs with a deeply embedded belief that it will help enrich learning, increase productivity and strengthen employee satisfaction. However, less than 35% of the stakeholders were impressed with the final result, which made them doubt the outflow of money that had immeasurable ROI. Corporate training programs can bring unsatisfactory results for several reasons. But here are the three most noted reasons:

Non-alignment of corporate training programs and business outcome
Many organizations do not spend enough time in assessing how a training program could bring them one step closer to realizing their long-term business goals and outcomes. Oftentimes, training programs do not align with what the business leaders want to achieve from their teams in order to fulfill their growth objectives and vision. Business leaders along with subject matter experts need to identify and learn the skill sets that are missing within their current teams and then lay out a well-defined development plan that should ultimately match with the training strategy.

Outdated training programs for modern workforce
A huge portion of the new workforce in need of corporate training is either millennials or GenZ. They do not find the traditional training methods appealing, or even stimulating. To add to the ‘theory-fatigue’, there’s often a major lack of real-world application. Also, in today’s busy workplace, traditional training modules expect employees to give up way too much of their time. These modules can hardly be proportioned or be platform agnostic. The need of the hour is a fully customizable appropriate training approach model, a unique training experience for your company with satisfactory outcomes.

Inconsistency in training
As many training managers will let this be known, that training and simulation alone cannot fulfill the task of reskilling and upskilling. You need a feedback system to judge learning levels. Without follow-ups by managers and supervisors, even the sincerest, hardworking employees start to lose the skills they gained during training. Remember, the thumb rule in play is that it’s not about the subject of the training itself, but how it will develop and improve the productivity of different teams and employees.

Have a question? Reach out to us to improve how your employees learn, upgrade their skills and adapt to your exclusive transformation needs.

Upskilling | Workforce transformation | Talent retention | Learning and development

3 Reasons Why Upskilling Your Workforce Should be a Priority

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Veer Teneja

Vice President – Training Solutions
[email protected]
/Veer Taneja

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The imperative to upskilling and reskilling for an enterprise has been a buzzword for far too long. Yet, not many have made noticeable strides in their approach and strategies to attain these. Enterprises currently face the dire need to develop their workforce rather than simply hiring fresh talent from the market.

Here’s why organizations must consider and invest in transforming their workforce through upskilling/reskilling:

1. Improved performance – Most organizations train their staff during the onboarding process but often stop their training there. Regular learning and development programs aid the employees as well as the enterprise. With emerging technologies and innovative business practices, employees must be kept abreast of industry trends and skills in demand. Businesses should facilitate such learning to maintain the competency of employees and to uphold their position in the market. Upskilling/reskilling allows enterprises to enhance their workforce’s professional skills, build a knowledge base, address business requirements and boost the top line.

2. Cost efficient – Whenever an employee exits, the organization has to bear the burden of finding a suitable substitute. Replacing a permanent employee can be an expensive proposition due to the high costs associated with recruitment and training. And as the ever-growing demand for future-forward skills continues to exceed supply in a competitive market, the heavy imbalance can compel the company to hire an under-skilled resource only to train them later. Choosing to upskill or reskill employees in the first place offers a more permanent fixture, averting an undue talent search thereby saving time and money.

3. Talent retention and attraction – Employees with specialized skills often struggle to stay relevant in a technology-led workforce, which also leads to a lack of motivation. Collaborative learning and development coupled with close alignment with the business objectives boosts their spirit, provides motivation and encourages them to grow organically by staying with the firm for a longer period of time. It also strengthens brand advocacy, thus enabling organizations to attract better talent.

Today, enterprises that embrace the culture of learning and development are writing the narrative for what the future holds for them and their workforce. This helps them develop proficiency in the areas that are highly in demand at present, and will remain so in the future as well.

Upskilling | Workforce transformation | Talent retention | Learning and development