Employers have a talent crisis on their hands

While workers are more likely to stick with their current jobs than they were a few years ago, that doesn't mean employers are out of the woods when it comes to talent challenges. 

ADP found that 71% of midsize businesses and 69% of large companies are struggling to provide upskilling opportunities for their employees, despite talent development being among their top three priorities. In fact, 55% of midsize and 47% of large companies have plans to upskill or reskill their workforce, but organizations are worried their initiatives are falling short.

"There's a lot of complexities involved in learning and development: What are you trying to develop? What do you need as an organization in the future?" says Jay Caldwell, chief talent officer at ADP. "That's not often something that's defined very well. From a strategic standpoint, you need to know the implications of the skills you'll actually need."

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Caldwell suggests that company leaders put together a list of the top two or three skills they need for the long-term success of their business. From there, it's important to assess the existing skills gaps and which roles need to bridge that gap within a specific time frame. Notably, just 34% of small businesses say they struggle with upskilling, hinting that bigger businesses may have a harder time pinpointing what skills they need and who should learn them. 

In other words, no matter the size of the business, employers have to narrow down the skills they want to nurture; the more generalized their plan is, the less likely they are to succeed, stresses Caldwell. 

"Ask yourselves, 'Where are we today on that skill, and where do we need to be in the future?" he says. "Then you can figure out what resources or experiences you need to make sure employees develop those skills."

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Caldwell notes that finding educational content has become a lot easier in the last decade — employees can access virtual workshops or complete certifications of certain skills online. However, it's vital that employers ensure their workers have the capacity to pursue those opportunities. 

"They're going to need time, and depending on your industry, this may mean taking people off production, taking people off phone lines or just giving them space to learn," says Caldwell. "If you're not creating that capacity to consume and apply [lessons], then it's just not going to happen."

Company leaders should also prepare themselves for a performance dip while their workers are learning a new skill, warns Caldwell. For example, if an employer is integrating a new tech tool for employees to use on their projects, they shouldn't expect employees to complete it within the same timeframe or at the same quality as previous projects. 

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"It's when Apple pushes a significant update to iOS to your phone," says Caldwell. "It takes time to relearn. When you're relearning a skill or an approach, it will affect your performance in the short term."

Caldwell encourages employers to be intentional about their upskilling initiatives, even as early as the hiring process. According to ADP, finding qualified talent was the No. 1 challenge for large businesses and the second biggest challenge for midsize employers. Caldwell advises hiring managers to look for candidates not only with the skills the company needs but also with the motivation and ability to learn new skills. Given the pace of technological advancement, it may be more crucial to identify learning agility rather than a specific technical skill, says Caldwell.  

"One of the most important skills in the future is going to be the ability to learn," he says. "Look for people with the aspiration and ambition to learn and develop — it's a mindset and capability."