Companies should prioritize upskilling their existing employees for future roles rather than solely focusing on layoffs or external hiring, according to Mercer executives writing for Fortune. This approach preserves valuable institutional knowledge and contextual intelligence that new hires would lack, and can be more cost-effective than external recruitment. Investing in reskilling is framed as a retention strategy, as employees increasingly desire opportunities to develop AI and digital skills, which can lead to greater loyalty and engagement. AI
IMPACT Companies can retain institutional knowledge and reduce hiring costs by upskilling existing employees for AI-driven roles.
RANK_REASON Opinion piece by industry executives discussing workforce strategy in the context of AI.
- Kellogg School of Management
- Mercer
- Northwestern University
- Ravin Jesuthasan
- Standard Chartered
- Tauseef Rahman
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