Upskilling and Reskilling: A Strategic Response to Changing Skill Demands

Upskilling and Reskilling

Upskilling and reskilling are two strategies employers can use to combat the growing skills shortage. Upskilling involves teaching existing employees new, advanced skills. Reskilling, meanwhile, is about finding people with ‘adjacent skills’ to fill new roles. According to the World Economic Forum, half of all employees will need to be reskilled by 2025. Companies must take action now to ensure they have access to the skills they need. Investment in employee development programs is necessary to retain talent and meet future goals (Talentguard, 2019).

What is the solution?

To use reskilling and upskilling in your organization, you should consider implementing a career pathing program. This program encourages your employees to develop a plan that will help them reach their career goals and advance in the company. It is based on a competency-based approach that evaluates and assesses the skills necessary for each role, allowing employees to understand what skills they need to acquire to move forward and progress in their careers. A career path provides employees with a roadmap to success, helping them to identify the specialized skills and training they need to reach their aspirations (Talentguard, 2019).

How to determine that employees need reskilling?

When the company wishes to keep talented employees, but the positions those employees held are no longer viable, it is time to provide them with the necessary training to transition into different roles. If an employee has a particular talent or would be more successful in a different role than the one they currently occupy, reskilling can help them to identify and pursue a better-suited career path. Valamis, 2023)

Upskilling Training Initiative

According to ExpertusOne, (2021) Impactful Upskilling Training Initiatives are as follows;

1. Start with the right tools

It is essential to equip your staff with the right tools to help them reach their goals. Investing in the appropriate learning technology is an essential part of employee training and development. Companies should ensure that their employees have access to the necessary tools to help them acquire new skills. 

Invest in a learning management system (LMS) platform that makes learning easy to access regardless of the employee's location or changes in workstyle. This type of platform should provide a streamlined learning process that integrates with popular applications, such as Slack, Salesforce, and Microsoft Teams. Additionally, the LMS should employ AI and machine learning to personalize the learning experience for each user, making it easier to identify relevant courses.

2. Identify missing skill sets, course offerings, and training objectives

When creating an upskilling training program, it is important to look at the overall needs in the workplace. It is also important to identify any skill sets or training objectives missing. Companies should consider the concept of skill adjacencies, looking for employees or potential hires with skill sets related to those required. This could include offering certifications or courses that specialize in certain topics, or providing broader education that focuses on soft skills like leadership, communication, and collaboration.

3. Create multiple learning pathways and offer freedom to employees

Companies should consider offering a range of courses related to a certain topic or field so that staff can select which one interests them. Additionally, it is important to provide flexible learning objectives and timelines. Allowing employees to study when they are most focused and not overburdening them with work. Utilizing technology can make training more accessible, and in some cases, even allow offline learning. Ultimately, upskilling can have a major impact on employee retention, talent, and the competition between different industries. Investing in employees through these initiatives can create a more innovative workplace.

Why is Reskilling and upskilling important now more than ever?

Reskilling  - Retraining staff provides the opportunity to retain loyal employees, but there are more motivating factors. The introduction of RPA, AI and the Coronavirus pandemic has altered the way we consider job roles. Because of these developments, it is now more crucial than ever to reskill workers (Valamis, 2023).

Upskilling - Organizations who can provide their workers with the opportunity to grow and expand their skillset will be more successful at retaining their staffs. Companies need to focus on upskilling to avoid staff leaving for more attractive opportunities. Talent leaders should prioritize upskilling employees to retain them (Kaikhosroshvili, 2023).

(PWC, 2019)

What are the benefits of reskilling and upskilling?

According to Valamis, (2023) benefits of reskilling are as follows;

1.     Minimize recruiting and training expenses.
2.     Sustain corporate knowledge and shorten product development timeline.
3.     Maintain the top-performing staffs.
4.     Reskilling allows employees to gain the necessary skills to transition to another role within the same organization.
5.     Increase the well-being of your workforce.
6.     Enhance the company's reputation.
7.     Employees with a wider range of skills and abilities.

 According to Kaikhosroshvili, (2023) benefits of upskilling are as follows;

1. Enhanced employee involvement
2. Increased productivity.
3. Companies can respond more quickly to market changes and have a more flexible approach to operations.
4. Businesses can save costs and resources by optimizing their processes.

 Developing an upskilling strategy

Kaikhosroshvili, (2023)

Best Practices to upskill your workforce

1. Use a development framework  

Career development frameworks are necessary for any upskilling program. This involves collaboration between a leader and an employee to identify and acquire the skills and competencies needed to progress. Career mapping helps establish desired promotions or lateral moves, and the capabilities needed to fulfill these roles. Employee growth software can be used to set up and optimize such a framework to ensure maximum benefit.

2. On-the-job training 

On-the-job training offers employees the opportunity to learn practical skills from experienced leaders and co-workers. By including performance metrics in a structured OJT program, employees can quickly acquire new skills and put them into practice within their role. This allows them to gain knowledge while also completing their day-to-day tasks.

3. Communities of practice 

By gathering individuals for frequent meetings and dialogues about their shared interests, organizations can foster communities of practice that can aid in improving performance. These communities may involve roundtables, mentoring, and other activities that allow for the quick exchange of ideas and knowledge.

4. Bite-sized upskilling opportunities 

Interactive content and quizzes that can be completed in a brief period of time are an effective way to train people. A study by Software Advice shows that these short courses are more engaging than longer courses, since the information can be quickly comprehended and remembered.

5. Lateral training

Upskilling your workforce doesn't just involve climbing to the top of the ladder. People can also have an enjoyable career by changing to a different role in the same company. Many female executives have chosen to take these kinds of nontraditional career paths, such as moving sideways into a new department or developing leadership skills to help their career progression.

6. Formal course platforms

Online course platforms offer recognized certifications and educational programs from well-regarded providers. They also provide flexible training programs that can be tailored to fit around work commitments. Course platforms includes:

1. Udemy
2. Pluralsight 
3. LinkedIn Learning
4. Future Learn 
5.  Coursera 
6. General Assembly

Kaikhosroshvili, (2023).

Conclusion

Upskilling and reskilling are crucial in today's rapidly evolving job market, where technological changes and increased competition make it necessary for individuals to continuously update their skills to stay relevant and valuable. The benefits of upskilling and reskilling are numerous, including improved employability, career advancement opportunities, increased earning potential, and higher job satisfaction. By taking advantage of the many resources available such as online courses, professional development programs, and mentorship opportunities, individuals can proactively develop and enhance their skills, and remain competitive in their fields. As the job market continues to evolve and change, it is imperative that individuals prioritize upskilling and reskilling to stay relevant and competitive in their fields. By embracing these opportunities for growth and development, individuals can position themselves for success, both now and in the future.

Reference list

ExpertusOne (2021). 3 Keys to An Impactful Upskilling Training Initiative - ExpertusONE. [online] ExpertusONE Learning Platform. Available at: https://expertusone.com/impactful-upskilling-training-initiatives/ [Accessed 16 Apr. 2023].

Kaikhosroshvili, K. (2023). Why Upskilling Is Key for the Future of Work | Zavvy. [online] www.zavvy.io. Available at: https://www.zavvy.io/blog/upskilling [Accessed 16 Apr. 2023].

PWC (2019). New world. New skills. PwC’s journey to drive a digital mindset. [online] www.youtube.com. Available at: https://www.youtube.com/watch?v=51whQDz-Dk0&t=100s [Accessed 16 Apr. 2023].

Talentguard (2019). Reskilling and Upskilling: A Strategic Response to Changing Skill Demands. [online] TalentGuard. Available at: https://www.talentguard.com/blog/reskilling-upskilling-strategic-response-changing-skill-demands [Accessed 16 Apr. 2023].

Valamis (2023). Reskilling the Workforce: Importance, Benefits, Best Practices. [online] Valamis. Available at: https://www.valamis.com/hub/reskilling [Accessed 16 Apr. 2023].