Charleston Reporter

Businesses must embrace upskilling and reskilling to maintain competitiveness amid rapid technological advancements. As AI and automation evolve, current skills risk obsolescence. Forbes states that up to 1.4 million U.S. workers will require reskilling by 2026, largely due to job type elimination. For businesses, failing to update skills could lead to an inability to adapt.

The Harvard Business Review describes reskilling as a competitive edge, allowing companies to “develop talent that is not readily available in the market.” IBM research notes that job skills now have a half-life of about five years, with more technical skills at 2.5 years, suggesting that current team expertise may soon be outdated.

Charleston-area employers face skill shortages among current staff, as reported by the Charleston Metro Chamber’s 2023 study. Celeste Granger, the Chamber’s Senior Vice President of Programs and Initiatives, urges a regional approach to address these challenges, advocating collaboration with businesses, educators, and workforce organizations.

AT&T's 2022 ESG summary showed that 1,950 trained employees contributed to securing 4,300 new customers and $4.5 million in revenue, demonstrating the value of investing in workforce development.

While many companies recognize skill development as crucial, not all measure training outcomes effectively. Linking skill development with strategic goals can unlock long-term benefits beyond immediate gains. Companies investing in upskilling today position themselves to better handle disruptions and attract talent.

Upskilling and reskilling bolster business resilience and growth. As change accelerates, prioritizing learning ensures preparedness for the future.