Equipping Employees to Keep up with Technological Change

A recent article in The Economist discusses the topic of the need for people, in particular employees, to continue learning due to the change in technology in society.  Among other pertinent points made, the article quickly points out the role automation played in the demand for knowledgeable college graduates.  The author posits that technology advancements call for another ‘revolution’ in education; continuous education.

According to the article, the classic model of education—a burst at the start and top-ups through company training—is no longer enough. The ever-increasing advancements in technology require a matching need for new, and constantly updated, skills. Manufacturing increasingly calls for brain work rather than metal-bashing. The share of the American workforce employed in routine office jobs declined from 25.5% to 21% between 1996 and 2015. The single, stable career has gone the way of the Rolodex.

However, on-the-job training is shrinking. In America and Great Britain, it has fallen by roughly half in the past two decades. Self-employment is spreading, leaving more people to take responsibility for their own skills. Taking time out later in life to pursue a formal qualification is an option, but it costs money and most colleges are geared towards youngsters.

The article goes on to point out possible solutions, and they basically boil down to educative solutions catering to adults with little cost to the individual.

Most corporations have some sort of training mandate. Some have programs to pay for advanced degrees. These initiatives have been around for decades, are hampered by a lack of personnel, and are usually the target of budget cuts.  Given the rapidity of change and the dearth of qualified personnel in automation, it is likely that corporations need to rethink and/or retool their approach to training. Expecting employees to learn on their own time is folly if the company reaps a benefit, too.  A few short years is all it takes for a highly qualified individual to become barely qualified. How will your company address the challenge?