You can afford to consider reskilling

You can afford to consider reskilling

How to do reskilling on a shoestring

Reskilling continues to be one of our more challenging talent strategies doesn’t it?

One of the common objections that my clients face when influencing their executives is “we can’t afford a retraining budget”, and I understand the push-back at times like these, I really do.

However, if you take into account that 70% of learning is experiential rather than formal, there is no ‘learning budget’ required, but there is the salary cost of time to learn.

Even this may be less than you think.

Gloat’s significant research across Europe and America in 2019 will tell you that almost 70% of workers are self-learning in some way in their own time already – and that was in a strong job market – I suspect it’s gone up since then.

So I challenge this assumption – your people will reskill in their own time if they choose to. They were highly motivated before the pandemic, and many of them will be even more motivated now.

The only budget you need today is to run an experiment that determines the true cost of reskilling in your organisation.

Maybe you can use a stand-down window as an up-skill window!

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