Case Study: Do We Reskill or Replace Our Workforce?

Case Study: Do We Reskill or Replace Our Workforce?

To remain competitive in the internet-of-things era, should the CEO of SolidTech Innovations, a fictional elevator company, invest a lot of money in reskilling its entire staff? The industry is moving from hardware to software in the form of smart, connected elevators. But instead of laying off legacy hardware staff and hiring new talent, the CEO wants to offer the employees a “Grand Bargain”: The company will pay for voluntary reskilling and re…