Key Highlights
- 74% of organizations believe that upskilling “can help close critical skill gaps,”
- 87% of execs consider reskilling essential to their organization’s growth
- The global upskilling market is projected to reach $53 billion by 2027
- 65% of employees in the tech industry believe reskilling programs are critical for their career development
- Only 29% of companies report having a comprehensive upskilling strategy in place
- 54% of workers feel their skills are not keeping pace with technology
- 62% of organizations increased their investment in employee reskilling during 2022
- 45% of professionals believe that AI will significantly change their required skill sets in the next five years
- 78% of organizations with effective upskilling programs see improved employee retention
- 56% of employees listed lack of skills as their top barrier to career advancement
- The average time to reskill an employee in the IT industry is approximately 6 months
- 69% of organizations are implementing or planning to implement AI-driven learning platforms
- 80% of executives say that reskilling initiatives are vital for digital transformation success
In an era where 85 million jobs are projected to be displaced by automation worldwide by 2025, upskilling and reskilling in the information industry have become not just strategic priorities but essential imperatives for organizations and professionals alike.
Employee Perceptions and Engagement
- 65% of employees in the tech industry believe reskilling programs are critical for their career development
- 54% of workers feel their skills are not keeping pace with technology
- 78% of organizations with effective upskilling programs see improved employee retention
- 52% of tech companies reported increased employee engagement after implementing reskilling programs
- Only 32% of IT professionals feel confident in their current digital skills
- 81% of employees say that reskilling opportunities increase their job satisfaction
- 38% of tech employees report feeling unprepared for current digital trends
- 66% of employees feel that digital upskilling opportunities improve their productivity
Employee Perceptions and Engagement Interpretation
Market Growth and Projections
- The global upskilling market is projected to reach $53 billion by 2027
- Globally, 12 million new digital jobs are expected to emerge by 2025, mainly requiring upskilled talent
- The percentage of online courses focused on tech skills increased by 23% in 2022
- The global e-learning market for corporate training is projected to reach $84 billion by 2026
- The demand for data scientists and analysts is predicted to grow by 28% by 2026, requiring significant reskilling efforts
- Investment in AR/VR for training purposes increased by 32% in 2023, aiming to enhance immersive learning experiences
- The global online learning market is expected to grow at a CAGR of 11% from 2023 to 2030
Market Growth and Projections Interpretation
Workforce Development and Reskilling Attitudes
- 74% of organizations believe that upskilling “can help close critical skill gaps,”
- 87% of execs consider reskilling essential to their organization’s growth
- Only 29% of companies report having a comprehensive upskilling strategy in place
- 62% of organizations increased their investment in employee reskilling during 2022
- 45% of professionals believe that AI will significantly change their required skill sets in the next five years
- 56% of employees listed lack of skills as their top barrier to career advancement
- The average time to reskill an employee in the IT industry is approximately 6 months
- 69% of organizations are implementing or planning to implement AI-driven learning platforms
- 80% of executives say that reskilling initiatives are vital for digital transformation success
- 41% of tech workers have participated in formal reskilling programs in the past year
- According to a survey, 55% of employees are willing to learn new skills if offered by their employer
- 60% of organizations report difficulty in identifying key skills for future growth
- The median age of upskilling employees in the IT sector is 36 years old
- 47% of organizations invest in online upskilling platforms like Coursera and Udemy for their workforce
- 71% of HR leaders believe reskilling is more cost-effective than hiring new talent
- 68% of organizations plan to increase investment in digital skills training over the next year
- 44% of workers see reskilling as an opportunity to switch career fields within the tech industry
- 83% of CIOs believe upskilling is critical to managing cybersecurity risks
- 75% of employees believe that reskilling helps them remain relevant in the job market
- 61% of organizations have a dedicated team for reskilling and upskilling initiatives
- 58% of the global workforce will require digital skills retraining by 2024
- 70% of technology leaders see upskilling as a way to drive innovation
- 89% of organizations plan to prioritize digital skills training in the next two years
- 53% of companies consider reskilling a key component of their diversity and inclusion strategy
- Nearly 60 million new digital jobs will require reskilling by 2025, according to ILO estimates
- 74% of organizations say that upskilling helps improve overall productivity
- 46% of tech workers believe that reskilling programs are essential to their future employability
- Companies investing in AI-powered learning see 21% faster completion rates for training modules
- 65% of organizations report that reskilling has led to improved internal mobility
- 83% of tech companies have incorporated gamification into their reskilling programs
- 68% of professionals in digital industries participate in online webinars or workshops for upskilling
- 59% of organizations plan to increase their reskilling budgets over the next year
- 77% of HR professionals say they see increased employee loyalty when companies invest in reskilling programs
- 49% of organizations report difficulty in measuring the ROI of upskilling initiatives
- The biggest challenge in reskilling is change management, faced by 64% of organizations
- 70% of adult learners prefer microlearning modules for quick upskilling
- 85% of companies offering reskilling programs report positive impacts on innovation
- 40% of the global workforce lacks foundational digital skills, according to ILO reports
- 83% of tech managers agree that reskilling is necessary to fill critical talent gaps
- 69% of learners retain more information when engaging in hands-on reskilling activities
- 90% of organizations plan to increase digital skills training post-pandemic
- 66% of employee development budgets now include at least 50% allocated to reskilling initiatives
- The average ROI of upskilling programs is calculated at 43%, according to surveys
- 62% of organizations report that reskilling has improved their ability to innovate
- Automation is expected to displace 85 million jobs worldwide by 2025, intensifying the need for reskilling
- 70% of senior leadership believe that ongoing reskilling is necessary for future competitiveness
- 75% of companies report that reskilling efforts have helped reduce recruitment costs by up to 30%
- 59% of organizations leverage data analytics to identify skill gaps for targeted reskilling
- Nearly 60% of the workforce believes that reskilling is vital for long-term career sustainability
- 82% of organizations rate continuous learning as a strategic priority
- 46% of companies increased their reskilling budget by more than 20% in 2023
- 75% of organizations agree that reskilling could address future talent shortages
- 57% of HR leaders believe that integrating reskilling into onboarding increases retention
Workforce Development and Reskilling Attitudes Interpretation
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