Embracing AI: 94% companies set to reskill workforce in 2024

In response to the transformative impact of Artificial Intelligence (AI) on the workforce, a staggering 94% of Indian companies are gearing up to reskill their employees in 2024.

The report emphasises the top three priorities for India’s learning and development (L&D) professionals this year: Upskilling employees, aligning learning programmes with business objectives, and fostering a culture of continuous learning.

Soft skills have taken center stage, with a notable 91% of L&D professionals in India recognising the increasing competitiveness of human skills in the economy. The report identifies ‘communication’ as the most sought-after skill in 2024 across the Asia Pacific region, including India.

Hiring managers in India are placing significant importance on soft skills such as critical thinking and problem-solving, ranking them among the top five skills essential in the era of AI.

Ruchee Anand, senior director of Talent, Learning, and Engagement Solutions at LinkedIn India, commented on the shift observed in job postings on LinkedIn. Last year witnessed a remarkable 21x surge in job postings mentioning AI-related skills, reflecting the escalating demand for tech skills as businesses explored AI.

This year, there is a distinct move towards a holistic approach, focusing on both technical and soft skills to thrive in the AI-dominated era.

With the anticipation that global skills requirements will change by 68% by 2030, there is a growing emphasis on learning diverse skills. L&D professionals are keen on investing in a culture of continuous learning, and companies in India are responding by offering online training and development programs (53%) and providing opportunities for hands-on experimentation with AI tools (54%).

This intensified focus on fostering a culture of learning is expected to lead to increased investments in learning opportunities. A striking 96% of L&D professionals in India express confidence in showcasing business value by assisting employees in acquiring skills for transitioning into different internal roles.

The report  also sheds light on the strategies adopted by India’s hiring managers to retain and attract top talent. Nearly half (48%) are offering career progression opportunities to existing employees, while 38% believe that helping employees build skills for the future of work is crucial. Additionally, competitive salaries and benefits (31%) remain key retention factors.

To support companies in adopting a skills-first approach, LinkedIn has introduced innovative AI-powered tools like Recruiter 2024. This tool enables hirers to access high-quality candidate recommendations quickly, based on natural language search prompts and rich data, ensuring efficient talent shortlisting.

In its commitment to aiding companies in preparing for the future of work, LinkedIn has launched LinkedIn Learning, featuring a chatbot experience that provides real-time advice and tailored content recommendations.

In early March, LinkedIn plans to unveil new career development and internal mobility features within LinkedIn Learning, available in multiple languages including English, Hindi, Japanese, Indonesian, and Malay, to guide employees toward critical skills, fostering growth and connecting them with the best-fit opportunities within their organisations.