Why Employers Are Upskilling and Reskilling Experienced Employees

You may have heard the terms “upskilling” and “reskilling.” Both are important to employers who want to keep their workforces resilient in rapidly changing industries. Some markets are more sensitive to transitions than others. However, all employers need to ensure their teams have what it takes to remain competitive.

Upskilling and Reskilling: What They Are

Both upskilling and reskilling involve teaching employees new skills. These types of training, however, have different purposes.

Employers upskill team members to prepare them for advancement. The employer may believe an employee has what it takes to become a future director, for example. They help high performers achieve their goals by providing the training they need. Both the employer and employee benefit. 

Upskilling might include management training or interpersonal skills workshops. It can also include educational opportunities. For instance, the company might pay for a master’s degree or professional certification. Many companies provide in-house training programs for their workers.

In contrast, reskilling involves training existing employees in new skills they can use in new positions. If an employer decides an employee could be useful in another department, for example, they may provide training for the transition.

Experienced workers who completed their training or education years ago can benefit from reskilling. This training might involve teaching employees how to use a new software program. Other examples include helping employees learn sales tactics or communication techniques.

Advantages of Upskilling Your Employees

There are several key benefits to upskilling current team members. Upskilling will prepare employees for future promotions. This will help you keep talented workers you don’t want to lose to your competitors. Employees who know they have a career path with a company are less likely to leave.

One of the main reasons employees quit companies is because they don’t feel they have any opportunities for career growth. If they see you’re investing in their future, they’ll carefully weigh any new opportunities against staying in a place they feel valued.

Another advantage of upskilling employees is the simple learning opportunity. Few workers want to stall in their roles. Most employees enjoy learning new skills. An employer who understands that will be valued by workers.  

Upskilling employees can increase worker productivity. Many workers grow bored in their daily routines. Providing them with training on something new can give them the stimulation they need. The skills training can also help them develop unique ideas or look at things from a fresh perspective. 

Benefits of Reskilling Employees

Reskilling employees carries its own benefits.

Technology is rapidly shifting. The past few years have brought significant changes as more industries have adopted artificial intelligence. And AI itself is quickly evolving. Just a few years ago, the only way to alter a photograph was by using Photoshop or adjusting filters. Today, you can create one from scratch with a simple prompt.

The workforce is also changing. Younger employees may be comfortable with technology developments but lack industry experience. Long-term employees have strong core skills but may be unfamiliar with new technology. Providing workers with tools to keep their skills current helps them remain relevant to the company’s needs.

Offering employees the ability to reskill is also less costly than finding new talent. The company can save on hiring and salary costs by training its current workforce. 

Companies that invest in reskilling now ensure that their employees have a place in the organization in the future, before their roles become obsolete. Instead of downsizing, a company can ensure its workforce has the tools to remain valuable contributors. 

Downsizing can have a terrible impact on employee morale. It can lead some team members to quit their jobs. Others may do just enough to stay employed.  

Reskilling employees can improve your company’s reputation. It shows you care about your team members and their futures. If job seekers learn of your commitment to training workers, they’re more likely to apply. New workers will know you’ll provide them with the tools they need to thrive. They’ll feel personally invested in the company’s success.

A company’s reputation in a competitive hiring market can be the difference between a talented workforce and a so-so one. Workers with strong skills are drawn to companies with good reputations. A company with an average reputation won’t attract the same level of talent. 

Upskilling and Reskilling Is Important to Employers and Employees

While upskilling and reskilling team members involve some initial costs, they’re usually well worth the expense. Employers who train their workers for skills they’ll need are investing in the company’s and the employee’s futures. 

Workers will pick up a fresh new skill set they can bring to the company, making it more resilient to industry changes. The employee will likely find more rewarding opportunities within the organization, either on their current career path or in another role.

With the right upskilling and reskilling programs in place, everyone benefits.