Closing the Skills Gap with Managed Learning Services Partner
According to the World Economic Forum, new technologies will replace 85 million jobs between 2020 and 2025 and create 97 million new ones. By 2028, 44 percent of worker skills will be disrupted. Research also suggests the half-life of professional skills has dropped from 10 years to five, and the half-life for many technical skills is now below 2.5 years. Over a billion people will need to be reskilled by 2030, urging the World Economic Forum to declare a “reskilling emergency.”
The impending fear of talent shortages has forced many organizations to become more agile, innovative, and responsive. To adapt to new business demands, organizations are exploring transitioning to skills-based talent models focused on mapping critical capabilities, enabling continuous learning, and leveraging analytics and AI.
Despite the widespread interest of organizations in skills, they have not been able to see the end of the road in their skills journey. NIIT’s ongoing Skills-based research with St. Charles Consulting suggests that while leaders acknowledge the importance of upskilling, they encounter significant obstacles when it comes to identifying the specific skills that will be needed.
Most L&D functions are not prepared to manage the enormity of this change and must radically improve effectiveness and efficiency to create a strategic roadmap for closing the skills gap. While cost has traditionally been the primary reason for partnering with a Managed Learning Service provider, capability, capacity, agility, and value have become equally important drivers.
How Managed Learning Can Help Close the Skills Gap
Within the context of L&D, the past few years have witnessed the rise of a specialized form of managed services called Managed Learning Services (MLS). Managed learning services is an outsourcing model where an organization outsources all or some parts of their core L&D activities to a strategic partner. When organizations choose to outsource learning to an MLS partner, they open the door to a host of advantages that can revolutionize their organization's skills journey:
Expand L&D Capability and Skills with Managed Learning Services
In a world where new skills are evolving and L&D capabilities have to include everything from marketing to technology expertise, it is important to have access to flexible capacity. A Managed Learning Service partner can help L&D functions gain access to capability and experience you don’t have and/or can’t afford to build.
Optimize and Reduce Costs by choosing the right Managed Learning Services partner
In an uncertain economic environment, it is essential to optimize L&D spend and focus on investments that help maximize ROI. By choosing the right Managed Learning Services partner, organizations can move from high fixed costs to variable costs and increase operational efficiency, all while reducing the overall L&D spend from 20% to 50%.
Improve Scalability and Capacity with a trusted Managed Learning Services partner
There is exponential pressure on L&D teams to deliver but this does not mean that organizations have to build armies of people. A Managed Learning Services partner can help organizations increase scale at flexible capacity without the added pressure to hire unique skillsets.
Elevate Learner Experience with an experienced Managed Learning Service partner
Employees today expect learning experiences that keep them engaged, help them learn on demand in the flow of work, and help what they have learned flow to work. An experienced Managed Learning Services partner can help organizations improve learner experience from operations to content and delivery.
Build an Efficient Learning Ecosystem with Managed Learning Services provider
Now more than ever, L&D functions need an efficient learning ecosystem that delivers excellence on all fronts. With a Managed Learning Services provider, your L&D ecosystem can improve process and service excellence at scale.
Leverage Cutting Edge Technology for Improved Efficiency with Managed Learning Services provider
As the learning needs are evolving, the need for technology-enabled learning is becoming inevitable. With a Managed Learning Services provider, you can get access to cutting-edge technology that provides high-touch, personalized experiences for learners while achieving operational efficiency, giving you the time to focus on strategy and business value.
How to Choose the Right Managed Learning Services Provider
Choosing the right Managed Learning Services provider is a critical decision for organizations to realize the potential benefits of outsourcing. Here are 5 key considerations for selecting an ideal Managed Learning Services provider:
- Global footprint with consistent service delivery
- Reputation and credibility
- Ability to drive the innovation charter
- Quality of People, Processes and Technology
- Strong vendor network and great industry relationships
Read our blog Five Things to Consider When Selecting an MLS Partner to dive deeper.
Conclusion: Closing the Skills Gap with NIIT!
At NIIT, we know that the decision to find the right Managed Learning Services partner for your L&D function is not an easy one. That’s why we never take your trust for granted. We have deep, end-to-end capabilities facilitating a wide range of transformations, and a breadth of experience with some of the world’s most forward-thinking clients. We bring these insights and best practices to all our clients for competitive advantage. Discover why NIIT is a trusted Managed Learning Services partner in closing the skills gap for world’s leading organizations.