Corporate learning and development (L&D) will thrive in 2022 as companies invest more in upskilling their executives in high-tech domains such as artificial intelligence and machine learning.
According to a survey conducted by edtech firm Simplilearn on January 20, AI and machine learning are the highest priority skill domains for 2022, followed by cyber security, project management, digital marketing, cloud computing, and data science.
“These skills will receive the highest budget priority from organisations for internal upskilling initiatives and external hires,” the survey added.
According to Simplilearn, at least 80% of respondents indicated that developing digital skills internally will be a priority in 2022. Technology (54%) is the top function targeted by organisations for upskilling programmes, followed by digital operations (39%), digital business (34%), and data science (34%). (30 percent ).
With a focus on employee upskilling, 42 percent of respondents said they offer reimbursement programmes for employee-paid upskilling, and 18 percent are considering it. This trend indicates a greater emphasis on skill development.
At least 84% of respondents said their companies’ L&D budgets would increase or remain the same in 2021. In 2021, overall enterprise L&D budgets had increased by 4% year on year. Simplilearn anticipates that this trend will continue in 2022 based on respondents’ views on their skilling focus in 2022.
“Continuous learning and development ensures employee retention, as professionals tend to stay longer in a company that is invested in their growth and career development. In addition, relevant upskilling is highly beneficial to enterprises as it results in a more productive and efficient workforce,” said Krishna Kumar, founder and chief executive of Simplilearn.
“From finding ways to motivate employees to enhancing their sense of personal growth and aligning them with a company’s goals and values, L&D has become a matter of importance across firms – big and small. It is promising to see more and more enterprises taking steps towards boosting L&D practices,” Kumar said adding that a big chunk of L&D’s focus will be ensuring that learners keep upskilling at every stage, beyond onboarding and basic training.
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