While great benefits and an inclusive work culture are key to retaining top talent,
MasterClass at Work, the
"Programs emerged as a way to build role-specific and skill-aligned learning from these amazing people from different backgrounds and different kinds of expertise," he says. "We want to deliver this to organizations as a solution to learning and development challenges. Because when you, as an employee, feel there's internal mobility and chances to develop essential skills, that's what keeps you at a company."
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Scott emphasizes that if employees feel like their company is tapping into their potential, then they are more likely to stick around and see how far they can go, whether as individual contributors or leaders — and ultimately, businesses need upskilled talent.
According to professional services firm PwC, 93% of CEOs who introduced upskilling programs saw an increase in employee productivity and retention. Meanwhile, PwC estimated that this year, 40% of employees would need six months of reskilling to catch up with changes to the work world brought on by technology and the pandemic. Employees need guidance, and Scott hopes MasterClass can offer digestible lessons without adding to the workload.
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Scott notes that Programs address talent at the three pivotal levels, focusing on how these workers show up for their role. Advancing Core Skills is targeted at those entering a new work environment, Management Fundamentals is for first-time leaders and Next Level Leadership is designed for leaders who may need to rethink their approach. For example, if they're new hires, they may be nervous about their first big meeting. As part of the Advancing Core Skills program, Howard Schultz, former CEO of Starbucks, explains how a young professional made an impression by simply asking an insightful question at a meeting. The employee wasn't prepared because he knew all the answers, but because he knew what answers he needed.
As for new managers, their lessons focus on building collaborative and emphatic skills they need to lead a team. Their program opens with Spike Lee recalling how, in his early days of directing, he had trouble giving feedback to actors. "[Lee] felt like a failure, but he realized he needed to cater his feedback to the personalities of the actors and really understand them as a person," says Scott.
Next Level Leadership is focused on developing strategies, company-wide goals and growth. For Scott, it's especially important for companies to push their senior leaders to think outside the box at a time when productivity and success might look very different than they did 10 years ago.
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"We need to help senior leaders, particularly in a time of great disruption," says Scott. "How do you help them be more effective decision-makers and think one step ahead of what's happening? How do you help foster an environment of inclusion?"
Scott adds that each program comes with discussion guides if employers want to create learning cohorts as well as surveys to assess the efficacy of the program. While MasterClass may not be a one-stop solution for leadership and development challenges, employers should still consider what internal learning opportunities are out there for their employees.
"School may teach you a lot of technical skills that will prepare you for the professional environment," he says. "But you're not necessarily learning how to function in a professional environment or how to lead a team."
