Strategies to Grow Talent from Within
The MI brought together industry leaders Leslie Cantu, Vice President of Administration at Toyotetsu, and Steve Cross, Utilities and Reliability Leader at Logan Aluminum, in our most recent monthly Solution Series virtual event. In this session, Leslie and Steve discussed strategies for building stronger workforces through upskilling incumbent workers.
Here are some of the key takeaways:
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Upskilling is not optional: The World Economic Forum estimated that by 2030, nearly 39% of core job skills will shift due to changing technologies and processes. This, in addition to ongoing skill gaps, has driven manufacturers to find that strategically investing in their current employees is essential for long-term growth.
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High return on investment: Upskilling incumbents has many long and short-term benefits, including cost efficiency, higher retention rates, improved performance, lower risk, leadership development, and pipeline building.
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Leadership buy-in: Executive support is necessary for successful upskilling programs. By building upskilling into the organizational culture and day-to-day workflow, leaders signal that they value their workforce, cultivating a positive company culture. This improves morale and overall job satisfaction, contributing further to stronger employee retention.
