With a new year on the horizon, there’s no time like the present than to think about what changes could be made for 2022 and beyond – and, where businesses and employers are concerned, this could be the perfect opportunity for them to encourage their staff members to upskill and reskill, especially if they’re concerned about impending redundancies… making the most of the workforce you already have makes perfect sense, after all.
The last 18 months or so have, of course, been particularly tricky for businesses – and very few have been spared the heartache caused by the pandemic.
We’ve all had struggles to deal with because of the covid-19 crisis and, as the furlough scheme comes to an end, it would certainly be understandable for companies to feel a level of uncertainty about the future and what it holds.
A new study carried out by Renovo, seen by City AM, suggests that redundancies and job losses are going to be commonplace over the next few months, with 69 per cent of employers in the UK anticipating job losses and 46 per cent expecting to make redundancies within the next six months.
Renovo’s managing director Chris Parker explained that, despite the employment market showing positive signs, “at the employer level, there is a high correlation between those with employees currently on furlough and high levels of expected redundancies in the next year.
“However, employers must be aware that due to events in the last 18 months, perceptions of job security aren’t only an issue for those on furlough right now”.
It’s not just the pandemic that is having an impact on job security, however, and the employment landscape is certainly shifting – on a global scale. This will mean that people need to retrain and upskill in order to remain employable and attractive to recruiters, with the Fourth Industrial Revolution now well underway.
This, naturally, is technology based, with innovation having a huge impact on all industries, disciplines, sectors and economies… and it certainly cannot be ignored.
What is interesting to note is that, although the digital revolution began a few years ago, the pandemic had a huge hand to play in accelerating digitalisation and uptake of technology and automation.
In order for businesses to adapt, evolve and continue to flourish as the Fourth Industrial Revolution really starts to take hold, it will be essential for them to continue training and retraining their workforce, acquiring new skills all the time in order to keep abreast of all the changes and developments in tech.
Upskilling will need to become the backbone of any robust company strategy, so that no matter what happens, businesses will already have valuable people on staff who are able to do the work required, rather than them having to continuously bring in new staff members to fill gaps over time.
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