There are some crises that force entire companies or even sectors to change the way they work. The present COVID- 19 pandemic is one such that has brought several industries back to the drawing board. Some of the changes made now, should hopefully in the long run, help the way work is carried out. The need to enhance workers’ skills, is the current challenge. New set of skills highly in vogue are now those that work bets with the ‘distance economy’. There are imbalances unfortunately in the talent recruitment being done, and the demand for certain skills. Supply chains are also likewise seeing a churn in their design. Before any company starts the process of re- skilling, they need to identify the skill areas on which the business model’s recovery will impinge upon. Corporate training programmes need to be adopted that will specifically handle the key skills required for the new business model. These training programmes need to be tailored towards the critical areas. The system of start- test- iterate needs to be implemented. Companies that will display humility and acknowledge themselves to be small, are expected to ace this period. Learning budgets will need to be protected now at all costs, else there will be regret later on.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/to-emerge-stronger-from-the-covid-19-crisis-companies-should-start-reskilling-their-workforces-now

Uploaded Date:20 May 2020