Lack Of Funds Is The Biggest Hurdle For Companies Wanting To Reskill Their Staff

In recent years, there have been endless high-pitched discussions about the importance of reskilling employees to cope with new technologies and business models. But a recent survey has found that many large companies across the world still face challenges in implementing such plans.

The lack of adequate funds was cited as the biggest barrier to reskilling the workforce in a survey of over 1,000 senior management executives, at global companies with an annual turnover of $1 billion. The survey was conducted by Infosys Knowledge Institute (IKI), the thought leadership and research arm of India’s second-largest IT services company.

You might also be interested to read: SBI, Bank of Baroda to laterally hire 500 people

Some of the other barriers to reskilling of the workforce are a lack of awareness, insufficient HR resources, and employees’ resistance to change, according to the survey.

The need for soft skills notwithstanding, the demand for strong technical skills will never fade. Analytics, automation, and artificial intelligence are the most sought-after currently, the Infosys survey said.


Comments are closed.