Publications
Publications
- November 15, 2022
- Harvard Business Review (website)
Using Simulations to Upskill Employees
By: Frank V. Cespedes, Trond Aas, Alex Hunt and Huw Newton-Hill
Abstract
Reskilling employees tops the agenda in many organizations, according to a LinkedIn report. Korn Ferry estimates an 85-million person talent shortage by 2030, and McKinsey likens the challenge to the shift from agricultural to manufacturing work that occurred in the previous century. The market for global corporate learning and development (L&D) is an estimated $350 billion, and increasing. Despite this massive investment, 75% of senior managers are dissatisfied with their L&D initiatives, and Gartner reports that 70% of employees feel they lack the skills required to do their jobs. The authors of this article outline systemic reasons for the current situation, and explain how technologies can help make L&D processes more effective in core areas of development, including decision-making, collaboration, and change management.
Keywords
Employee Engagement; Managing People; Talent Development; Training; Human Capital; Experience and Expertise; Talent and Talent Management; Retention; Personal Development and Career
Citation
Cespedes, Frank V., Trond Aas, Alex Hunt, and Huw Newton-Hill. "Using Simulations to Upskill Employees." Harvard Business Review (website) (November 15, 2022).