Yesterday we posted the first part of my interview with Bhavneet Chahal, a personal friend and co-founder/CEO of GoSkills.com, a platform dedicated to delivering personalized, bite-sized business courses to working professionals. In Part 1 of “E-learning with CEO and Co-Founder of GoSkills, Bhavneet Chahal”, Bhav and I discussed the motivation behind founding the company, the unique and proven e-learning methods used by GoSkills, as well as how this application works for students and learners from all backgrounds, education levels and career paths.
In this final half of my interview with Bhav, we’ll discuss what it takes to empower the current post-Covid-19 workforce, why upskilling for both employed and unemployed professionals is a must-do, as well as what current trends companies are looking to offer their employees in regards to online education. Bhav offers some sound advice on staying competitive in today’s job market, and the story of how the ‘Seattle Freeze’ actually opened the door to our friendship.
Let’s start back in 2008. Feels like 300 years ago right? Well, that’s when AT&T caught on to the value of upskilling their workforce and making them ‘future-proof’. At that time, AT&T realized only about half of their 250,000 workers had the needed skills to keep up with rapidly changing technology. Those skills were related to science, engineering and technology. Additionally, the number of employees that dealt with hardware that would soon be obsolete was in the hundreds of thousands. Instead of laying-off their workforce, they chose to upskill their existing workers.
The reason so many companies are turning to upskilling or reskilling in order to retain their current workforces is the high cost of turnover. On average, the cost to replace an employee is 21 percent of their salary, and that percentage rises the higher the salary. Simply put, retaining employees is an investment, and it allows companies to realize a return on that investment by keeping a valuable workforce in-place.