The COVID-19 pandemic and the rise of digital technologies have dramatically increased the need for new skills in the workforce. The workplace and industry are constantly changing, and many businesses are forced to keep up with the new environment or end up falling behind.

Here is where upskilling and reskilling come in. It is important to not only use the talent you already have but give your employees additional skills to improve in their current role or move to a different one. Upskilling and reskilling allow your business to stay competitive in a changing environment, keep up with evolving digital technologies, reduce skills gaps within your organisation and adapt to new roles created after the pandemic.

Those employees that are given these opportunities will have a significant advantage in the long run and will be able to benefit your business in more ways than ever before. But businesses must look ahead and identify the skills they’ll need both now and, in the future, if they want to effectively implement the strategies of upskilling and reskilling.

Upskilling

Upskilling involves training employees to expand and learn new skills so they can do better in their current role. By upskilling your employees, you’re not only helping them, but greatly benefiting your business too.

So, what are the benefits of upskilling your employees?

• Addressing challenges becomes easier – When employees have increased knowledge and a wider skill set, they are able to tackle industry changes and business challenges that arise in a more effective and efficient manner
• Your team is more confident – When employees are more confident in their job, they’re more likely to contribute to problem solving and team meetings, as well as voice their new ideas or concerns
• Productivity increases – If employees are given the opportunity to improve the way they do their job, they will be able to complete more tasks in less time, resulting in more work being done
• Customer satisfaction increases – Employees will feel more motivated to improve their customer service if they have the skills and knowledge to do so
• Attract and retain talent – If you make learning and development an integral role of your business strategy and prioritise this publicly, you will attract new talent but also retain the talent you already have

(Source: LinkedIn)

Reskilling

Reskilling involves training employees to learn new skills so they can move to a different role within the organisation. Reskilling can also be very beneficial to both the employees and the business and will be an integral part of creating jobs post pandemic.  

What are the benefits of reskilling your employees?

• Retain talent – By reskilling, you’re able to keep your loyal employees instead of firing them to make way for new candidates
• It will reduce costs – Hiring and training new employees comes with its costs, especially if you’re looking for good quality talent
• Team morale improves – Employees are more likely to stay with a company when they feel valued and are given opportunities to learn through reskilling

(Source: Valamis)

The importance of upskilling and reskilling is continuing to grow, especially after the last two years. So, why not get a head start in the changing market and invest in developing your employees’ skills. It will not only benefit your business but your employees too.

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