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WHAT IS UPSKILLING AND RESKILLING AND WHY IS IT IMPORTANT
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"The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn." - Alvin Toffler
We often hear the work upskilling, but when people are asked about it, they are not always sure what is being referred to. Upskilling means that we continue to broaden and upgrade our existing skills, keeping up with any changes in our field of expertise, or adding new skills to our skillset. Reskilling means that we acquire new skills that can be applied in a new position or training people to do a new job.
The Forum “Talentguard” projected in a blog article that, by 2025 up to 85 million jobs could be displaced by a shift in the division of labor between machines and humans. They also say that 97 million new roles are expected to be created in companies, driven by advances in technology and continuous digital transformation. Even for the talent that is able to remain in their same roles, the expected share of core skills that will change is 40%.
Building blocks
From a workplace perspective it is important that the company enables continuous learning through a planned skills development plan that focusses on addressing and minimising their employee’s skills gaps. This is an important building block for the overall wellness and happiness of the employees, as it means they feel enabled to do their jobs well, can advance in their careers and can access opportunities for promotion.
Employees who feel they are encouraged to grow within their existing company is less likely to look for opportunities outside, as they feel valued and have room to be promoted from within. Employees who feel invested in also becomes more motivated to perform and the overall morale of the team improves.
Double investment
Continued upskilling is therefore not only an investment in skilled employees but also an investment and contributing factor to employee engagement and retention. Furthermore, a company that invests in upskilling, will have a team who are prepared for technological changes, skilled to deal with the ever-changing customer and environmental landscape and who can ensure that the company outperforms its competitors.
Kate Brush described upskilling on
techtarget.com as a process that helps current employees learn new job skills, makes the company more attractive to job applicants and improves the employee experience. She said that, while upskilling programs are expensive, they generate a strong return on investment (ROI). By creating ongoing training opportunities for workers the company may actually save money as addressing workplace problems are much more expensive. Providing free training also increases employee retention rates, thus decreasing staff turnover and lowering hiring and onboarding costs.
Other upskilling benefits include:
� Improved employee engagement. Potential and current employees want professional development and training opportunities in their job and they will look for opportunities that provide these options. Upskilling satisfies these employee demands. � Optimized employee productivity. Improving employee engagement will ultimately increase productivity. Also, if employees don't understand the technology they work with, they will not excel in their jobs.
Therefore, upskilling employees in new technologies is necessary for improving their productivity. � Improved employee retention. Upskilling decreases employee turnover. When workers feel their employer is invested in their professional growth, they are more likely to remain committed to the company. Upskill training can also make employees happier and more motivated to complete their work. � Increased customer satisfaction. Happy employees often directly impact and improve the customer experience.
Furthermore, employees are able to use their new skills to better solve customer issues with more efficiency, creativity and innovation. � Keeping up with the industry. Learning new skills is often necessary to remain competitive. Upskilling is an effective way to ensure organizations maintain and increase their competitive market standing.
To find out more about upskilling and reskilling options for your team members, contact The MindSpa Institute. SHOP-SA has an agreement in place with The MindSpa Institute so kindly mention that you have heard about their training from us. �
