Creating a functional and efficient skill development programme is no easy feat. Generally, there are two approaches to skill development: one where teams assemble learning plans and establish a one-size-fits-all model. This can frustrate employees at a higher level and leave those lower in the hierarchy overworked.
The other approach is comprehensive and prioritises expert-led learning experiences, human curation, and AI-driven recommendations. This requires commitment, but also provides every employee with a tailored growth plan, one that incorporates personal skill development as an integral part of company progress.
Marshall indicated that bridging the engineering skills gap is critical, especially as a bank amid a high growth phase and with an “endless appetite for technical expertise.” Further, with engineering at the forefront of product management, talented people with knowledge of API-led digital transformation are of paramount importance for the future of financial services.
Calabrese pointed out that the driving force behind hiring the right people and, in turn, improving the skills gap, is ensuring that the HR department is well-versed with the company strategy. Reiterating this point, Calabrese said that “at a minimum, they’re able to map talent, understand where the organisation creates value and how top talent contributes to that.”
Further, with HR leading and adopting what he referred to as a “learning culture,” they focus on upskilling and reskilling of employees to keep pace with technological changes and ensuring the right talent is in place to deliver on the company’s objectives.
“By prioritising strategic workforce planning, by reviewing those strengths and identifying future core capabilities that the organisation will need, scalable learning that explains technology across the employee lifecycle — across learning and development, performance management and workforce productivity — can be implemented,” Calabrese said.
For Bozkir, while there is an increased demand for technology skills, “there is an infinite pool of resources out there. I think you must combine recruitment, upskilling and reskilling. If you can train your own staff, they know the company and can be trusted, so there’s benefits around that. I also think we should not forget that people are recruited with the expectation that they will be upskilled,” Bozkir explored.
A poll question was also put to the webinar audience on this topic: what they considered was the biggest barrier to innovation. 38.5% said the skills gap, and resources came in at a close second at 30.8%.
