coursera ebook new 2

Accelerate Business Transformation: Strategies for Future Workforce

INTRODUCING

Coursera is the global online learning platform that o ers anyone, anywhere access to online 3 courses and degrees from world-class universities and companies. Coursera was founded by Daphne Koller and Andrew Ng in 2012 with a vision of providing life-transforming learning experiences to learners around the world. Today, Coursera is a global online learning platform that o ers anyone, anywhere, access to online courses and degrees from leading universities and companies. Coursera received B Corp certification in February 2021, which means that we have a legal duty not only to our shareholders, but to also make a positive impact on society more broadly, as we continue our e orts to reduce barriers to world-class education for all. 107 million learners and more than 7,000 campuses, businesses, and governments have come to Coursera to access world-class learning—anytime, anywhere. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

ETHRWorld is the flagship digital platform for the HR vertical of The Economic Times, the second 4 largest widely read business newspaper and digital media platform in the world. We are an integrated media platform, now present across geographies, that aims to unite the world of work community and enable their learning through insights, news, interviews, trends, research, white -papers, curated events & conferences, masterclasses and workshops. ETHRWorld India: https://hr.economictimes.indiatimes.com/ ETHRWorld Southeast Asia: https://hrsea.economictimes.indiatimes.com/ ETHRWorld Middle East: https://hrme.economictimes.indiatimes.com/ Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

Coursera Foreword Raghav Gupta The pandemic has forced companies to rethink their upskilling strategy. To keep pace with Managing Director, India & the new norm of remote work, navigate business model disruption, and accelerate their APAC, Coursera digital transformation journey, there has been a renewed focus on talent development. At a time when skills and jobs are changing at an accelerated pace -- an estimated 85 5 percent of jobs in 2030 have not been invented yet. The double disruption of automation and recession from the pandemic have pushed adoption of technology across companies, which the World Economic Forum predicts will transform tasks, jobs, and skills by 2025. Continuous skill development holds the promise to drive business growth and resilience. With the enterprise learning agenda transforming to match the velocity of change in the shi ing economy, we expect that the rapid transition to online will have a lasting e ect on how people learn. Looking ahead, we anticipate that online learning may serve a larger purpose -- to build an agile workforce of lifelong learners who are armed with skills required to drive innovation, successfully navigate volatility and steer their organization through future disruptions. In this Coursera and ETHRWorld multimedia ebook, on Accelerate Business Transformation: Strategies for the Future Workforce, we highlight the criticality of a proactive approach to learning and development through workforce strategies that are not just nimble but long-term, as well.We also put forth considerable emphasis on the challenges that the new future of work paradigm is likely to engender and identify the key learning dimensions that require immediate attention from leadership. Today, business leaders in every sector have an incredible opportunity to strategically reshape their talent agenda by aligning it to their people, purpose and evolving digital transformation strategy. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

Meet the industry leaders Dharmender Kapoor Thompson P Gnanam Sanket Atal Manpreet Singh Ahuja Raghav Gupta Dulles Krishnan CEO, Birlasoft Managing Director and SVP and Managing Director, Chief Digital Officer, PWC Managing Director, India & Managing Director- Enterprise, Global CEO, 3i Infotech Salesforce APAC, Coursera Coursera, India & ANZ Swaminathan R Victor Sundaraj Maj. Jacob Kurian Pratyusha Sharma Vidya Gothe Janardhan Santhanam Chief People Officer, WNS Head-Engineering Academy, Director - Human Resources AVP- Human Resources, Associate Director HR, DXC VP & CLO, Global Head- Global Services Infosys Harman International Cognizant Technology Talent Development, TCS Ritu Chakrabarti Rani Belliappa Padmaja Sreenivas Global Head-Delivery Strategy, Associate Partner and Head- Head L&D (Domain & Consulting), Learning & Development, L&D, Talent Management & Inclusion & Diversity, Wipro Mindtree HR Business Partner, KPMG Technologies Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 6

Gap Analysis - Skill Trends & Challenges Even before the world was hit by the pandemic, organizations ranked digital/technology disruption as their top business priority - followed by obtaining the talent needed to execute tech transformation. But the pandemic escalated digital initiatives into digital imperatives, creating urgent pressure on HR leaders to collaborate with their CXOs to rethink the skills needed in light of the rapid business model changes. However, as digital technologies continue to evolve, the knowledge and capabilities of employees seem to lag behind, leaving many organizations playing catch up. To address this skills shortage, organizations need to invest more in sta training and development to upskill and reskill their marketing teams to remain competitive. This training needs to address not only gaps in technical skills but also the other domain specific, business skills, as well as the behavioral skills. COUNTRY 15.7M 60% 38% SPOTLIGHT Coursera Learners Learning on Mobile Women Learners India 28 Median Age Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 7

Skills Ranking & Proficiency Levels Business Technology Data Science Over - indexing Skills Rank Rank Change 62 Rank 56 Rank 76 Data Science Sales Machine Learning Algorithms Leadership and ↓11 Rank Change ↑6 Rank Change ↓12 Business (1.2x) Management Investment Management (1.38x) Regression (1.18x) Strategy and Operations 37% Databases 17% Data Analysis 23% Data Visualization So ware Communication (1.37x) Applied Machine Learning (1.17x) Human Resources 36% Computer 25% Data Visualization 10% Blockchain (1.33x) Linear Algebra (1.17x) Accounting Programming Data Analysis So ware (1.28x) Entrepreneurship Artificial Neural Networks (1.17x) Finance 10% Cloud Computing 74% Probability and Statistics 26% Risk Management (1.22x) Marketing Computer Science 66% So ware Engineering 48% Machine Learning 41% 74% Web Development 56% Mathematics 39% 14% Security Engineering 30% Statistical Programming 14% Programming Languages (1.23x) 26% Computer Networking 39% Data Management 22% Linear Algebra (1.21x) 71% Mobile Development 54% Algorithms (1.19x) 64% 35% Theoretical Computer 58% Mobile Development (1.13x) Science Distributed Computing Architecture (1.1x) Operating Systems Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 8

Technology & Innovation Create Need for New Skills As organizations embrace new technologies and create groundbreaking innovations, there will be a dramatic change in the technical requirements of every organization A McKinsey report claims that closing emerging skills gaps is key to realizing digital transformation – and companies that pursue talent-driven strategies to drive tech transformations are 3.4x more likely to be successful. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 9

Where does it take us? Team needs to deliver top talent that can help drive digital transformation. And employees are pushing you to grow their careers. Hiring o the market seems like the most e icient path forward–but the talent is either too expensive or non-existent. The problem of lack of talent and skills is not going away. While reskilling seems like an option, leaders are wary of investing: workers say they don’t have the time to learn, and managers cite productivity losses. Over half of the IT and cloud workers are looking to chart new career paths and the most digitally mature companies in the industry can outbid for tech talent, digital talent attraction and retention. It feels like a game you can only win with deep pockets. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 10

2. Proposed Solutions - Learning & 11 Skill Development of the Future We know that great talent delivers an outsized impact on business performance. Ensuring that employees have the right skills to align with business goals is the top priority for learning leaders today, especially in a world where 8 in 10 companies are driving digital transformation. Yet most companies fail to drive tangible business outcomes from their learning initiatives. Digital and AI technologies are transforming the world of work and today’s workforce will need to learn new skills and continually adapt as new occupations emerge. But with the accelerated pace of transformation, we are also less clear about the specific skills tomorrow’s workers will require. Research by the McKinsey Global Institute has looked at the kind of jobs that will be lost, as well as those that will be created and it has inferred the type of high-level skills that will become increasingly important as a result. The need for manual and physical skills, as well as basic cognitive ones, will decline, but demand for technological, social, and higher cognitive skills will grow. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

The Learning Paradox: What it seems, what is it? 12 Over the last decade, the number of learning options on the market has proliferated, from low-priced content libraries to edutainment and microlearning. This surface-level content has made it easier to snowball learning, and should provide employees with the skills they need. Learning activity is up, too: the average number of annual learning hours per employee has doubled from 42 hours in 2017 to 102 hours in 2020 [Statista]. But despite increased accessibility and quantity of learning, the skills gap has only widened. Only 16% of employees have the skills for their current and future role, according to a Gartner report. Unfortunately, very few companies have defined the skills required for specific roles, let alone the content required to build those skills. Learning teams o en don’t have the domain expertise to do this, and functional business leaders don’t have time to build learning programs, evaluate content, and create learning paths. What o en happens then is that business leaders don’t see value in the central learning o ering, and shi budget towards hiring or investments in one-o learning initiatives. The skills gap remains unaddressed and with that the accelerating rate of technological change only widens it. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

Lead Yourself Lead Team Lead Organizations Leadership Academy Core human skills for Develop teams that Empower your workforce Develop employees to lead without limits production interactions can collaborate and with stratergic management and impact thrive at all levels and org. development Sample SkillSets : Sample SkillSets : Sample SkillSets : Emotional New Managing intelligence Managers Managers Diversity and People Organizational Inclusion Development Development Interpersonal Team Strategic Skills Management Management Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 13

3. Practical Implementations - Leadership 14 Transformation Skills Content consumption alone does not lead to skilled workers and transformed businesses. Leaders must identify the right skills for the right roles, deploy e icient learning programs, engage learners, and report on skill development in a way that can justify ROI, secure learning spend, and ultimately transform the business. Learning leaders face a dire cycle. Here’s how it begins. With so many learning options on the market, it is increasingly di icult for L&D teams to find content that is credible. This is partly due to choice overload, and partly due to content authors that are incentivized by marketplace dynamics to create popular, easy-to-pass courses that don’t feature hands-on learning or capstone projects. Because budgets are limited, and learning leaders are not domain experts in many emerging skills required for digital transformation, many opt to purchase content marketplaces that promise to “o er everything the business could possibly need”. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

But this approach can negatively impact employee productivity. Global studies show 15 that employees spend 20% of their day trying to find relevant content for the skills their organization is demanding. And with no way to report on the ROI of learning, functional business leaders find it hard to justify continuous investment in learning programs. Many do not renew their partnerships with learning platforms. This cycle is already having a profound impact on companies. Setting aside how the pandemic has accelerated digital transformations across every sector, the skills required for a job increases 10% year over year. Compounded, 30% of skills needed three years ago will soon become irrelevant, according to a Gartner study. Compared to employees at your competitors, your employees have fallen behind in key skills to the business. Without continuous investment in learning, the skill gaps you see will only get bigger Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

4. Learning Metrics - Assessing the Impact Measuring learning impact helps an organization by ensuring that e orts made towards employee development are yielding positive results and not just increasing costs. According to a LinkedIn workplace learning poll from 2021, 95% of employees are more likely to stay with a company longer if their skills are developed adequately on the job. Thus, learning impact measurements are a crucial part of developing and running learning programs to both train and retain employees. A learning program is only good if ‘learning’ is actually achieved. Measuring the learning impact helps L&D professionals and department managers understand how e ective (or ine ective) a program is and plan future initiatives accordingly. It also helps map investments and returns, which is crucial. Industry Stock Performance vs. Skill Proficiency 40% Correlation = 43% 30% 20% 25% 50% 75% 100% 10% 0% Average skill proficiency across bussiness, technology and data science -10% -20% Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 16

Simply running learning programs isn’t enough. It is important to ensure that the 17 programs are actually contributing to the growth and development of employees and the organization as a whole by measuring their impact. We spoke to industry leaders to understand the techniques they are deploying to measure learning impact in their organization. Here is the summary of what they shared: Employee engagement surveys: Observing the trends in the engagement charts of your learning programs can tell you a lot about your program’s success. Taking note of feedback from employees participating in the learning program and paying attention to retention rates can help enhance L&D initiatives. Assessing employee productivity: The primary reason an organization conducts learning programs is to enhance their employees’ skills and knowledge. If you notice employees completing assigned work in less time with better quality, this shows an excellent learning impact. On the other hand, if you notice little to no e ect on productivity, you may have an imbalanced training program. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

The performance statistics: By analyzing performance statistics of your employees against KPIs and KRAs, L&D managers can understand just how e ective their learning program is and whether or not it delivers what it is intended to deliver. On the other hand, analyzing overall business statistics is another technique that can show the impact of learning. Improved business stats can point to high learning impact, while decreased stats convey the need for improvement in the learning programs. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 18

5. Success Stories - Industry Insights 19 We have seen over and over again that focusing on driving activity and satisfaction doesn’t just erode trust with business partners—it erodes a learning leader’s position in an organization over time. The L&D function has a huge opportunity to help their business focus on things that matter: skills transformation and a place in the future. What if there was a way to help your company understand its current skill profile and assess its position vs. competitors? What if there were a way to e iciently identify the skills your company needs to develop, the relevant job roles, and relevant learning needed to build those skills? And what if there were a way to track results in a way that resonated with the business—and could justify the spend for upskilling in the years to come? Anchoring skills in line with business objectives is the path forward: over 70% of L&D leaders and 80% of learners surveyed (Coursera, May 2020) indicated they preferred o ering or earning a credential based on skills they learned versus a credential based on hours or completions. But only a few companies have built upskilling platforms that can both deliver and track skills to the business at scale. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

Coursera is your one-stop shop for deploying skills to the business. It empowers learning 20 leaders to partner e ectively with functional leaders to deliver on the needs of the business through measurable, skills-first learning. With over 100 million learners on the platform, Coursera understands the global state of skills—therefore are able to benchmark your employees’ skill levels and understand what skills they should develop by role, industry, or region. Coursera also o ers Guided Projects that equip your employees with hands-on expertise in new tools and processes in as little as 20 minutes; and a skills reporting functionality that tracks, measures, and benchmarks progress across technical and human skills. World-class content from top universities and industry leaders underlies all learning on Coursera, featuring the kind of inspiring teaching and rigorous assessments that builds deep capabilities. With the Coursera platform, you can finally deliver on the demands of the business to build measurable, deep, and enduring skills that transform performance. And don’t just take our word for it: according to the global research firm IDC, Coursera delivers a 746% ROI (equivalent to $33,000 per learner) over 3 years, with measurable impact on productivity, retention, employee mobility, and ability to train. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

Conclusion 21 Technological advancement will have a major e ect on employment in the coming years. Nearly every job will change, many quite profoundly. The overwhelming majority of today’s employees will need to develop new skills. Preparing for the future of work is one of the defining business problems of our time—yet it is one that most organizations are not ready to address. The future of work will require two types of changes across the workforce: upskilling, in which sta gain new skills to help in their current roles, and reskilling, in which sta need the capabilities to take on di erent or entirely new roles. The relationship between an organization and its people is a two-way street, and the design phase of a future-of-work program should also focus on a business’s o er to its sta . Companies need to develop clear and compelling value propositions for employees to ensure that their existing sta s see the benefits of developing new skills—and so the organizations can attract external talent to fill the specialized roles for which there are insu icient internal candidates. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce

Bibliography Coursera Global Skills Report https://pages.coursera-for-business.org/rs/748-MIV-116/images/Coursera-Global-Skills-Report-2022.pdf The Job Skills of 2022 by Coursera https://pages.coursera-for-business.org/rs/748-MIV-116/images/Job%20Skills%20of%202022.pdf Talent Strategy for Tech Innovation by Coursera https://pages.coursera-for-business.org/rs/748-MIV-116/images/talent-strategy-for-tech.pdf Transformational Leadership in the Digital Age by Coursera https://pages.coursera-for-business.org/rs/748-MIV-116/images/Transformational%20Leadership.pdf Gartner Survey Reveals HR Leaders’ Number One Priority in 2021: Building Critical Skills and Competencies (STAMFORD, Conn., November 16, 2020) https://www.gartner.com/en/newsroom/press-releases/2020-11-16-gartner-survey-reveals-hr-leaders-number-one-priority-in-2021 Hours of training per employee in the training industry in the United States from 2017 to 2021, by company size https://bit.ly/3BpVd2q Priorities in HR Function Budgets Are Likely to Keep Shi ing in 2021 https://www.gartner.com/smarterwithgartner/priorities-in-hr-function-budgets-are-likely-to-keep-shi ing-in-2021 Gartner HR Research Finds 58% of the Workforce Will Need New Skill Sets to Do Their Jobs Successfully (STAMFORD, Conn., February 4, 2021) https://www.gartner.com/en/newsroom/press-releases/2021-02-03-gartner-hr-research-finds-fi y-eight-percent-of-the-workforce-will-need-new-skill-sets-to-do-their-jobs-successfully Managing tech transformations, McKinsey Digital (May 2021) https://www.mckinsey.com/~/media/mckinsey/business%20functions/mckinsey%20digital/our%20insights/managing%20tech%20transformations/managing-tech-transformations.pdf Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 22

The Research & Insights Team: Manisha Vasdev, Head - Enterprise Marketing, Coursera India & APAC Nishant Bindraban, Enterprise Marketing Lead, Coursera for Business, India Alexandra Sanpera, Senior Content Marketing Manager, Coursera for Business, Global Apeksha Kaushik, Sr Content Producer, ETHRWorld Special Thanks/ Acknowledgements: Arushee Aggarwal, Head, Coursera for Business, India Shrey Tandon, Account Director, Coursera India Job Sam Koshy, Account Director, Coursera India Pratyush Harsh, Account Director, Coursera India Tarana Kaushik, Sr Lead, ETHRWorld Sagarika Rai, Conference Producer, ETHRWorld Madan Mahendru, O icer Conferences, ETHRWorld Disclaimer: The information contained herein has been obtained from sources believed to be reliable. ETHRWorld and Coursera disclaim all warranties as to the accuracy, completeness or adequacy of the information. ETHRWorld and Coursera will bear no liability for errors, omissions, or inadequacies in the information contained herein or for interpretations thereof. The material in this publication is copyrighted. No part of this can be reproduced either on paper or electronic media without permission in writing from ETHRWorld. Requests for permissions to reproduce any part of the report may be sent to ETHRWorld. Coursera for business x ET HR World | Accelerate Business Transformation: Strategies for Future Workforce 23