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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
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You might be upskilling all wrong—Here’s how to actually get workers to retrain for the future

Emma Burleigh
By
Emma Burleigh
Emma Burleigh
Reporter, Success
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Emma Burleigh
By
Emma Burleigh
Emma Burleigh
Reporter, Success
Down Arrow Button Icon
March 6, 2024, 8:15 AM ET
Business woman teaches lesson to colleagues on a whiteboard.
Companies should think more about career paths for individual workers rather than large-scale upskilling initiatives.Getty Images
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The AI revolution has begun, and businesses are rapidly integrating the technology into their daily operations. Some companies have openly admitted that those changes have led to hiring freezes, and many employees have been left wondering how they can gain the skills of the future to avoid getting left behind. 

That anxiety has helped give rise to a new corporate obsession: upskilling, the idea that companies should teach their staff new skills outside their current capabilities. A majority of workers want learning opportunities from their employers, and bosses want reskilling, too—it creates a modernized workforce. 

But companies are struggling to figure out how to retrain their workers. Only around 50% of companies attempting to implement large-scale upskilling programs in 2024 had activated those initiatives, according to a new report from LinkedIn. Around 41% were still in the planning stage, and just 4% were at a point where they could measure any progress. 

One-size-fits-all programs designed to train thousands of employees at once are ambitious, but slow-moving and non-specific to individual needs, Stephanie Conway, director of talent development at LinkedIn, tells Fortune. Instead of solely funneling efforts into rolling out these big endeavors, she says that companies should also focus on the specific potential career paths of individual workers. 

Conway says that when it comes to upskilling, employers should take a two-pronged strategy. Companies should give employees specific ways that they can obtain technical skills, which could include internal training sessions or outsourcing through external learning platforms. They also need to develop a skills-based infrastructure within the organization at large—valuing and redefining talent based on skills instead of just resumes or education level. That clarity about which skills apply to which jobs offers a path for a worker to travel from one role to another.

“You know what is expected and what you need to learn, because the skills have been mapped,” Conway says. 

With a solid idea of what training is needed, it’s then up to workers to create a game plan with their bosses on how they want to educate themselves, and which skills they should focus on. That, says Conway, comes down to “a conversation with your manager.”

Emma Burleigh
emma.burleigh@fortune.com
@EmmaBurleigh1

Around the Table

A round-up of the most important HR headlines.

DEI lawyers have experienced a surge of audit requests amid the backlash against diversity initiatives. Bloomberg

Employers are pulling on back weight loss drugs as an employee benefit, saying they can’t keep up with high costs. Wall Street Journal

The global gender gap is very real—and there isn’t a single country in the world that gives equal opportunity to both men and women. Guardian

U.S. businesses are suing over President Biden’s gig worker protections as they attempt to stop independent contractors from being treated as employees. Washington Post

Watercooler

Everything you need to know from Fortune.

Feeling low. Young millennial and Gen Z employees are growing increasingly detached from their jobs and employers. But their boomer coworkers are more engaged than ever. —Jane Thier

Clothes for change. North Face is offering customers 20% off their purchase if they attend a racial inclusion class, in an effort to bring awareness to racial privilege in accessing outdoor activities. —Orianna Rosa Royle 

Elon’s crusade. The National Labor Relations Board hearing for SpaceX began yesterday. The company is fighting accusations that it wrongfully terminated employees who criticized owner Elon Musk. —Jessica Mathews

This is the web version of CHRO Daily, a newsletter focusing on helping HR executives navigate the needs of the workplace. Sign up to get it delivered free to your inbox.

About the Author
Emma Burleigh
By Emma BurleighReporter, Success

Emma Burleigh is a reporter at Fortune, covering success, careers, entrepreneurship, and personal finance. Before joining the Success desk, she co-authored Fortune’s CHRO Daily newsletter, extensively covering the workplace and the future of jobs. Emma has also written for publications including the Observer and The China Project, publishing long-form stories on culture, entertainment, and geopolitics. She has a joint-master’s degree from New York University in Global Journalism and East Asian Studies.

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