TECH SUPPLIER Dec 2019 - Market Perspective - Doc # EUR145684719

The Reskilling Business Case: The Urgent Consequence of Rapid Technology Development

By: Martin SundbladResearch Manager

Abstract

This IDC Market Perspective examines the need to manage skills and staff that have become outdated or obsolete to the extent that individuals need a change of career — a reskilling. Career change and reskilling have been practiced by a few companies in Europe, but the costs of changing job role were typically carried by local and central governments and individuals. Since there is a significant shortage of skills in many IT-related job roles, there is a greater need for organizations to retain their staff, even at the cost of reskilling. However, the business case for such reskilling should be shared between enterprises, governments, and individuals to maximize the benefits for all three.

"While the drivers for reskilling are very different for enterprises, local and central governments, and individuals, the business case is improved significantly if they collaborate and larger programs are planned and funded collectively. The skills shortage in IT-related roles will deepen in the coming five years, thus organizations must consider how to upskill and reskill their current workforce," said Martin Sundblad, research manager, European Skills Practice.


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