Retaining good people is a strategic priority in the face of IT skills shortages, raising the importance of improving skills and training, says Sean Farrington, executive vice president at Pluralsight, a technology workforce development company. Investing in upskilling is cheaper than hiring, he says.
Reskilling an existing employee in the United States costs on average $1,200, whereas hiring mid-level expertise comes in at $60,000, Farrington says. Plus, it takes around six months for new hires to become fully productive.
Pluralsight witnessed an astonishing 1,185% year-on-year increase in the number of cloud labs courses taken on its training platform over the last year. "Learning in the cloud is fundamentally different from traditional upskilling, and frequently requires developing more specialized expertise," Farrington says.
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