NOVEMBER 2023HR TECH OUTLOOK EUROPE9communicate effectively online. Other "soft" skills like problem-solving, creativity, and emotional intelligence are also becoming more critical as companies look to create more flexible and adaptive workplaces. Technology proficiency and adaptability, the ability to work in a team ­ in-person or virtually ­ and communicate effectively are equally necessary key strengths.As the demand for digital skillsets grows, reskilling and upskilling are becoming more accessible than ever. Online learning platforms offer various courses and programs, from coding and data science to skills like project management and communication. These platforms provide individuals with the flexibility to make progress at their own pace and access to a variety of programs from renowned institutions. Many universities offer online programs and certificate courses to help students and working professionals stay updated with the latest trends and technologies.An Economic Ripple EffectBoth companies and society benefit from the reskilling and upskilling of talent. A strengthened, highly-skilled workforce increases productivity, innovation, and economic growth. Many companies, including BMO, are investing in the progress of their people by helping them learn, stretch, and grow while keeping pace with changing customer needs and wants. BMO is investing more than 60 million USD a year in learning, partly dedicated to accelerating reskilling. To date, over 750 senior leaders have completed leading digital first foundations, focusing on the core concepts of digital first, BMO's strategy around continuously evolving our customer experiences with increased speed and scale. A recent digital first reskilling pilot closed with more than 80 percent active engagement with an uptake of approximately 4000 BMO employees.Companies that invest in their employees' training and development are more likely to retain their best talent and stay competitive in the marketplace. Reskilling is a differentiator; companies need a robust strategy to maintain a competitive edge. However, reskilling and upskilling cannot fall solely on the shoulders of individuals and companies. Governments also have a role to play in helping workers make progress towards the skills they need to adapt to the changing economy by making access to upskilling and reskilling easier. Examples include investing in adult education and training programs, promoting apprenticeships and vocational education, and creating incentives for organizations and individuals to upskill and reskill through tax incentives and other financial benefits.Reskilling and upskilling are crucial for individuals to make progress in today's job market. The shift towards a digital economy and automation means that demand for workers with digital and soft skills is growing. There are many resources available to help individuals reskill and upskill. The public and private sectors need to support the workforce to adapt to the changing demands of the job market. Investing in employees' skills is not just a smart business move; it is an investment in the future of the workforce. Reskilling and upskilling are crucial for individuals to make progress in today's job market
< Page 8 | Page 10 >