1 minute read
Upskilling
1ST YEAR ON THE LIST
Levi Strauss is building its AI workforce with upskilling initiatives for current employees.
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KEY INSIGHT
Investment in upskilling is increasing as both employers and employees look to platforms to help them maintain relevance. Employers are using it as a way to attract and retain talent and meet emerging needs for technology skills and AI capabilities. For workers, upskilling can mean promotions and raises.
EXAMPLES
Levi Strauss is investing in its workforce with an in-house Machine Learning Bootcamp that develops critical AI skill sets in workers with no prior experience. For employers without in-house initiatives, startups are emerging to meet this growing need. Springboard is a mentor-guided platform that has raised over $50 million and offers several career tracks with guaranteed employment. Palo Alto, California–based Workera.ai conducts regular technical skills assessments and creates personalized learning plans to help employees meet employer-required skills and their career goals. This “precision upskilling” helps to close skills gaps and deveop teams, according to the company. India-based Apna aims to help blue- and gray-collar workers learn new skills. The company was valued at $1.1 billion after a $100 million Series C round in September 2021. These platforms position upskilling as an opportunity for employees to grow their promotion and earning potential while reducing turnover.
DISRUPTIVE IMPACT
Companies such as Levi’s, Target, and Walmart are using upskilling platforms to retain and retrain employees. Quick-service restaurant chain Chipotle found that employees who participated in its program with Guild were 7.5 times more likely to move into a management role. There are also initial examples of how upskilling programs may support diversity, equity, and inclusion goals. As technology accelerates, employers will need an increasingly agile workforce that can adapt its skill sets and capabilities. Expect to see increased investment in upskilling platforms to help them meet those needs.
EMERGING PLAYERS
• Guild Education • Section4 • Workera.ai • Springboard • NewCampus • OpenClassrooms • Unacademy • Emeritus
