eBook: Redefining Reskilling & Upskilling
New research from Brandon Hall Group dives into everything you need to know to better manage and develop your employees skills through reskilling and upskilling. See examples, better understand the challenges companies may face and more in our eBook, Redefining Reskilling and Upskilling.
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Learn more about upskilling & reskilling
“Upskilling” refers to the teaching of additional skills to members of your existing workforce. Upskilling is different from initial training because the employees involved already have an understanding of how to perform their key tasks. Upskilling is simply a way of helping them expand and grow their knowledge into other areas. These areas may include technology, customer service, and more. Upskilling is beneficial for the employee because it makes them a more valuable asset and utilizes their talents to better advantage. Most employees enjoy the opportunity to show what they can do and feel more valued when their company shows an interest in employee development.
Online upskilling courses are among the most popular methods of teaching new skills to current employees. Upskilling classes that take place in person are second on the list. These tend to be so successful because they focus on the importance of retraining employees to focus on modern skills, such as leadership, problem-solving, and inclusiveness.
More and more of today’s most successful organizations are turning to upskilling and reskilling to bypass many of the disadvantages of training. Employees who are onboarded to fulfill one duty are more expensive than employees who possess multiple skills and can easily move between tasks and departments.
Upskilling and Reskilling
Upskilling and reskilling your workforce in areas such as digital intelligence, AI, and communication is vital in today’s global marketplace. Corporations are no longer limited to geographic boundaries, and in fact, may employ workers all around the globe. Understanding how to stay in touch, how to work together on projects, and how to partner with someone who lives in a vastly different area and observes a different culture and tradition, all highlight the importance of upskilling and reskilling. There may be more than language barriers standing in the way of a successful partnership. But by upskilling and reskilling the workforce to be more open to change and more inclusive, you can eliminate or avoid many problems.
Today’s increasing shift to automation is a second factor to consider when evaluating an employee for upskilling. Workplace roles are changing at electrifying speeds, and learned skills now have a shortened shelf life. This, more than any other factor, is driving current upskilling and reskilling trends in the workplace as employers focus more on:
- Identifying skills gaps
- Closing skills gaps
- Promoting analytical thinking
- Promoting complex problem-solving
- Teaching leadership skills
- Striving to become a more inclusive workplace
To save time and money, many forward-thinking companies are holding reskilling programs internally. This means workers don’t have to go away to train. And the types of upskilling methods being used are highly innovative and include elements of microlearning, data-driven learning, and extended reality. Upskilling examples of the methodology being used include:
- Immersive technology, such as virtual, augmented, or mixed reality
- Bite-size snippets of information
- Individual, personalized learning paths
- User-generated content
- Asynchronous learning
Organizations that are taking a dynamic and engaging approach to upskilling employees are the ones seeing the most success. Upskilling programs must focus on the skills companies need. This is true. However, they must be user-friendly and engaging enough to incentivize the employees who need them the most. Otherwise, they won’t fulfill their intended purpose.
Benefits of Upskilling for Employees
The benefits of upskilling for employees are many. In fact, there are few disadvantages of upskilling. This unique form of retraining not only increases an employee’s portfolio of marketable skills, but it can boost confidence and morale, too. Employees have more of an opportunity to showcase their capabilities, they have the satisfaction of knowing their company cares about them, and they’re able to increase their knowledge of the job. At the same time, the company gains a more highly skilled and satisfied worker who can move more seamlessly between departments and tasks as needed.
In today’s digital economy, where many traditional jobs are becoming obsolete, and learned skills are no longer for life, the benefits of upskilling and reskilling your workforce can’t be emphasized enough. It’s simply a requirement for organizations that wish to survive.
Employee Upskilling Program
Today’s best employee upskilling program makes use of innovative software that performs several important tasks. These include evaluating employee skills and turning the results into valuable data a company can then use to close skills gaps, devising personalized development plans for individual employees, and calculating a company’s return on investment on each worker. This allows for a targeted and effective upskilling training program,
Reskilling and upskilling for a future-ready workforce requires the collection and interpretation of data. The right software program can automate your upskill training and development and integrate them seamlessly into your HR department. At this point, the advantages and disadvantages of training methods become obsolete. Processes become automated, and everyone, from the mail-room employee to the CEO, reaps the rewards.
Why Are Upskilling and Reskilling Important?
Top upskilling companies understand the importance of investing time and money into their existing workforce. An upskilling initiative is necessary for more than just employee satisfaction. According to the World Economic Forum, roughly half the world’s workforce will require reskilling within the next five years. This translates into million upon millions of employees for whom a workable upskilling strategy is mandatory.
This answers the question, “Why is upskilling and reskilling important?” The answer is simply because, without it, both the individual and the company for which they work risk obscurity. There is little place in today’s competitive industry for old-fashioned or outdated ideals. And those companies who resist change and neglect the long-range planning required to sculpt a future-ready workforce are the ones who likely won’t be in operation ten years from now. Don’t let this be your story.
Certainly, there are challenges associated with change. However, through the upskilling and reskilling examples shared above and the convenience of modern automation, they can be overcome. It’s as simple as making a choice: Is your company ready to commit to a comprehensive upskilling and reskilling strategy for your workforce? Reach out to us today to see how we can help!