92% of businesses’ say future plans depend on closing skills gap as digitisation rapidly accelerates, and outsourcing falls out of favour

by Samuel Pordengerg Jun 2, 2023 News
92% of businesses’ say future plans depend on closing skills gap as digitisation rapidly accelerates, and outsourcing falls out of favour

There is a member article.

Businesses in-house digital skills requirements and opportunities for talent growth are examined in the report.

Winning The Race for Digital Skills: The New Best Practices of Effective Learning is a report by Econsultancy, a leading global provider of digital marketing and training.

It shows the need for businesses and professionals to bridge the digital skills gap in order to remain competitive.

According to Econsultancy, the majority of senior executives in the UK say their organisation's growth depends on rapidly evolving their employees' skills and capabilities to meet emerging customer and business needs 27% of people say the business doesn't have the digital skills to accomplish their goals

Almost two thirds of brands say their customers are looking to replace offline experiences with digital experiences due to digital transformation and digitalising the customer journey.

The digital skills gap is one of the biggest challenges to the world's economies. Depending on how primed your business is to build on ever-evolving digital capabilities, it can be a great opportunity or challenge. Data-driven marketing and customer-centeredity will become even more pronounced.

The people in the business are one of the best assets to achieve transformational growth. The objectives and outcomes of a company's development programs can help everyone involved to stay ahead of the curve.

Training is a key strategy to bridge the skills gap, according to the report. Training is considered to be the fastest and most cost-effective way to boost general digital skills, compared to hiring or outsourcing, according to a survey of senior executives.

Less than half of executives think their organisation is good at training to meet new objectives, with senior executives acknowledging much work needs to be done to bring professional development and training up to par. Two thirds of people think learning and development programs for digital roles lag behind organizational needs.

The need to upskill is something that professionals are aware of. Eighty percent of professionals say that the skills they need for their job are evolving rapidly, and that they must add and update their digital skills. Most digital marketing skills need to be updated at least quarterly according to a study. More than half of people say they need to add new skills and knowledge monthly.

The demand for always-on learning is not enough for traditional models of professional learning. Econsultancy encourages businesses and decision makers to implement a blend of digital and event-based learning with both structured and in-the-flow experiences to foster a business culture that values growth and success.

An in-depth analysis of digital best practice in the report is part of Econsultancy's multi-touch learning offering.

Executives at companies that invest in learning and development are more likely to say that their employees have the skills to meet their goals. 45% vs. 27%

Employees at companies that deliver learning opportunities are more likely to say that it is a benefit to their job. A majority of the time, (68%) vs. a minority of the time. It suggests that organizations that offer access to a wider array of training modes and continuous learning than have traditionally been available could find themselves better able to hone digital skills.

This was posted in the members' news section.