Blog Post

The $5.5 Trillion IT Skills Crisis

The $5.5 Trillion IT Skills Crisis

Strategies for Building Future-Ready Tech Talent

The global IT skills shortage is reaching a breaking point, with IDC predicting that over 90% of organizations worldwide will feel the impact by 2026. This crisis is expected to result in a staggering $5.5 trillion in losses due to product delays, impaired competitiveness, and lost business opportunities.

While artificial intelligence (AI) skills are currently in high demand, cybersecurity, IT Operations, cloud computing, data management, software development, and various other digital skills are also among the top needs identified by IT leaders.

Overcoming the IT Skills Crisis: A Holistic Approach

Addressing this significant skills gap requires a holistic approach that fosters a culture of continuous learning within organizations. As market dynamics evolve, so do the talent development training needs of our clients. Over the last 18 months, we’ve heard more of a need for skills-based training for new talent and existing employees.

Experiential Learning: Hands-On Skill Development

We apply our core methodology of hands-on, experiential learning perfected through apprenticeships to skill-based training programs too. Our interactive approach engages learners, provides practical, real-world experience while allowing them to apply their knowledge on the job. This is of significant benefit to employers, and savvy ones recognize the long-term cost savings and competitive advantage developing talent provides.

According to IDC’s survey, 70% of organizations are utilizing experiential learning methods in their training programs. Why? Because they recognize their effectiveness in developing practical skills and fostering a deeper understanding of complex concepts. We take that one step farther with hands-on, on-the-job learning that aligns skills to your unique work environment.

Aligning Learning with Business Goals and Career Growth

While cutting-edge training materials and methods are essential, fostering a culture of continuous learning requires a comprehensive approach that aligns learning objectives with business goals and individual career aspirations. Franklin Apprenticeships can help. Our training programs are designed to promote a bias for learning, integrate seamlessly into daily workflows and provide employees ample opportunities to upskill and reskill as business needs evolve.

Addressing Resistance to Training

One of the challenges organizations face in expanding employee skills is resistance to training. Employees often cite concerns such as courses being too long, limited learning options, and a lack of alignment between skills and career goals. One of the biggest challenges we hear regularly is that employees don’t always avail themselves of skills training the company provides. Or they start but don’t complete training. We overcome this inertia with live Success Coaches whose sole focus is holding learners accountable to complete their training program while working with employer managers to integrate these employees into operations while they’re learning.

Investing in Your Future Success

The IT skills crisis is a complex challenge that requires innovative solutions and a commitment to continuous learning and continuous talent development. By partnering with Franklin, you gain access to our cutting-edge training programs flexed to your needs, expert instructors, success coaches, and a proven track record of helping organizations build the tech talent they need to thrive in the digital age.

Don’t let the skills gap hold your organization back. Contact us today to learn how we can help you conquer the IT skills crisis and future-proof your tech talent pipeline.

Blog Post

Navigating the Skills Revolution

Navigating the Skills Revolution

Unlock Human Potential for a Future-Ready Workforce

The rise of generative AI has brought about a seismic shift in the job market, prompting organizations to reevaluate their hiring strategies. The most in-demand skills for the future are the most in-demand skills for now. The call for a “skills revolution” has become a rallying cry, but is this approach truly disruptive, or simply a rebranding of age-old practices? 

At Franklin Apprenticeships, we believe that successfully navigating this skills revolution requires a people-focused, outcome-oriented mindset. Our innovative talent development programs are designed to help companies bridge talent gaps, unlock human potential, and drive their missions forward. 

Rethinking Traditional Hiring Practices 

An article from Fast Company, Is Skills-Based Hiring Just a Fad, highlights the growing emphasis on skills-based hiring, a trend fueled by the commoditization of knowledge and expertise through AI. As generative AI becomes more ubiquitous, employers are realizing that mere knowledge or expertise is no longer a differentiating factor in the hiring process. 

To truly embrace the skills revolution, organizations must be willing to challenge traditional hiring practices that have long relied on academic credentials and university degrees. These credentials, while valuable, often fail to accurately assess an individual’s employability skills, such as learning ability, drive, and interpersonal competencies. 

Focusing on Future-Proof Competencies 

As the shelf life of hard skills continues to shrink, the key to building a future-ready workforce lies in prioritizing soft skills and human-centric competencies. These skills, which include traits like self-awareness, empathy, adaptability, and resilience, are less likely to be replicated by AI and are essential for navigating the ever-changing job market. 

True potential transcends past experiences and achievements. Our programs are designed to assess and develop these future-proof competencies, enabling individuals to thrive in roles they may have never encountered before. 

Unlocking Human Potential Through Innovative Programs 

To truly drive the skills revolution forward, companies must invest in innovative talent development programs that prioritize continuous learning and growth. Franklin offers a comprehensive suite of solutions, including:  

– Apprenticeships and occupation-specific “learn while you earn” training programs 

– Upskilling and reskilling initiatives for existing employees 

– Success coaches to ensure training effectiveness for both employers and learners  

Our insightful approach focuses on accurately assessing individuals’ unique strengths and areas for development, while our innovative programs provide tangible pathways for growth and skill acquisition. 

Embracing a People-Positive, Outcome-Oriented Approach 

At the core of our philosophy is a deep commitment to making a real impact – in the lives of the individuals we develop and in the success of the companies we serve. We understand that true transformation requires a people-positive approach, one that prioritizes human potential and fosters an environment conducive to continuous learning and growth. 

As the skills revolution continues to unfold, it is crucial for organizations to embrace an outcome-oriented mindset, focusing on measurable results and tangible impacts. By partnering with Franklin, companies gain a trusted guide in navigating this new landscape, ensuring they remain competitive and future-ready while also driving meaningful change in the lives of their employees. 

The skills revolution presents both challenges and opportunities, but with the right approach and innovative solutions, companies can unlock the full potential of their workforce, cultivate new talent, and pave the way for sustained success in the ever-evolving job market.