In this video clip from Motley Fool Live, recorded on Feb. 17, Fool contributor Rachel Warren discusses how some companies are dealing with talent deficiencies by reskilling and upskilling employees with Mohan Lakhamraju, the founder and CEO of Great Learning, a global EdTech platform.
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Rachel Warren: So how important is it that workers as they're getting caught up in the "Great Resignation," maybe switching to a different career path, immediately find those retraining programs that have a high completion and success rate for job placement?
Mohan Lakhamraju: Yeah. Few things. One is that in industries that have managed to survive and position themselves well, there's actually certainly there's a lot of demand that has opened up. Which means that businesses are growing. Some businesses have gotten very negatively affected and some businesses, there's certainly like this pent-up demand and they are not able to fulfill that, which means that a lot of job opportunities have opened up and that companies are just not able to find talent.
They are struggling with that. What are the options? One, as far as companies go it's to reskill and upskill the existing workforce that they have. Because there are certain functions, certain old ways things were being done are no longer relevant. Either they can lose those people or they could actually reskill and upskill them.
And one of the advantages of working with a platform like Great Learning is that we have assurance of learning as opposed to just access to learning. Most platforms provide access. We actually ensure that the learning outcomes happen. That's been our focus and that's so for organizations, it's a reliable way to ensure that talent does get created in the areas that they want that to happen.
That's what organization and for individuals, for them as well this assurance of learning is even more important. Because now they're choosing to actually take the risk of finding a new position and finding a new aspirational job for themselves.
So it's important that they're adequately equipped. So for them, this assurance of learning is even more important. So for both whether it is employers or employees investing in these areas and that's what we're finding. I think the interest is definitely much more than it was before we've been able to grow substantially in the last few years, more than 10 times.
