Understanding the Benefits of Upskilling and Reskilling Employees

In this blog article, we will discuss what upskilling and reskilling employees is, the benefits of doing so, and the challenges.
The image shows multiple wodden blocks stapled on a table. Some of them have an imprint which reads: “Skills”. Jumpstart Your Corporate Learning in 2023!
Trent Draper
Trent Draper
+15 years in Sales within the education industry, Head International Sales at Get More Brain.

As busi­ness­es shift to a dig­i­tal world, upskilling and reskilling employ­ees is becom­ing an increas­ing­ly cru­cial part of any business’s strat­e­gy for suc­cess. While the con­cept of upskilling and reskilling employ­ees may seem daunt­ing, the ben­e­fits for both the busi­ness and the employ­ees can be invalu­able.

In this blog arti­cle, we will dis­cuss what upskilling and reskilling employ­ees is, the ben­e­fits of doing so, and the chal­lenges. We will also look at the impact of the Great Res­ig­na­tion and the poten­tial impact of an eco­nom­ic down­turn on upskilling and reskilling employ­ees. Final­ly, we will explore the role of tech­nol­o­gy and the impor­tance of learn­ing expe­ri­ence plat­forms in upskilling and reskilling employ­ees.

What is Upskilling and Reskilling?

Upskilling and reskilling employ­ees is the process of pro­vid­ing employ­ees with the skills and knowl­edge they need to stay rel­e­vant and suc­cess­ful in the work­place. Upskilling focus­es on devel­op­ing employ­ees’ exist­ing skills, while reskilling focus­es on devel­op­ing new skills. It is a way for busi­ness­es to stay ahead of the com­pe­ti­tion and ensure their employ­ees are pre­pared for the chang­ing needs of their job.

Upskilling and reskilling employ­ees is key for busi­ness­es, as it allows them to stay com­pet­i­tive and ensure their employ­ees are prop­er­ly equipped to han­dle their jobs. It also helps to increase employ­ee morale and reduce turnover, as employ­ees are more like­ly to stay with a com­pa­ny that invests in their pro­fes­sion­al devel­op­ment.

Upskilling and reskilling employ­ees can be accom­plished in a vari­ety of ways. It can be done through tra­di­tion­al meth­ods, such as work­shops and sem­i­nars, or through more mod­ern meth­ods, such as online cours­es and learn­ing expe­ri­ence plat­forms. It can also be done through job shar­ing, where employ­ees share roles and respon­si­bil­i­ties in order to learn new skills.

New skills development concept on yellow line with reskilling and upskilling with a white arrow. Reskill and Upskill your employees
How Get More Brain Can Help You Reskill and Upskill your employ­ees

Benefits of Upskilling and Reskilling Employees

Upskilling and reskilling employ­ees can offer sev­er­al ben­e­fits to busi­ness­es, includ­ing:

  • Increased employ­ee pro­duc­tiv­i­ty. By pro­vid­ing employ­ees with the skills and knowl­edge they need to do their job bet­ter, busi­ness­es can increase the over­all pro­duc­tiv­i­ty of their work­force.
  • Increased employ­ee engage­ment. Upskilling and reskilling employ­ees can help to engage employ­ees, as they feel more val­ued and appre­ci­at­ed when their employ­er invests in their pro­fes­sion­al devel­op­ment.
  • Improved employ­ee reten­tion. Invest­ing in upskilling and reskilling can help to reduce employ­ee turnover, as employ­ees are more like­ly to stay with a com­pa­ny that takes the time to invest in their pro­fes­sion­al devel­op­ment.
  • Cost sav­ings. Invest­ing in upskilling and reskilling can help to reduce costs, as busi­ness­es don’t need to hire new employ­ees or pay for out­side train­ing.
  • Improved cus­tomer ser­vice. By upskilling and reskilling employ­ees, busi­ness­es can ensure that their cus­tomer ser­vice is of high qual­i­ty, as employ­ees have the skills and knowl­edge they need to bet­ter serve cus­tomers.

How to Get Started with Upskilling and Reskilling Employees

  • Iden­ti­fy skills gaps. The first step in upskilling and reskilling employ­ees is to iden­ti­fy skills gaps with­in the orga­ni­za­tion. This can be done by assess­ing the cur­rent skills and knowl­edge of employ­ees, as well as the needs of the busi­ness.
  • Devel­op a plan. Once the skills gaps have been iden­ti­fied, the next step is to devel­op a plan for upskilling and reskilling employ­ees. This should include the types of train­ing and devel­op­ment that will be offered, as well as the time­line for when the train­ing will take place.
  • Invest in tech­nol­o­gy. Tech­nol­o­gy can be a great tool for upskilling and reskilling employ­ees. Invest­ing in a Learn­ing Expe­ri­ence Plat­form (LXP), can help stream­line the upskilling and reskilling process and make it more effi­cient.
  • Mea­sure the results. It’s imper­a­tive to mea­sure the results of upskilling and reskilling employ­ees in order to ensure that the train­ing is effec­tive. This can be done by mea­sur­ing the increase in employ­ee pro­duc­tiv­i­ty, cus­tomer sat­is­fac­tion, and employ­ee engage­ment.

Challenges of Upskilling and Reskilling Employees

Upskilling and reskilling employ­ees can come with a num­ber of chal­lenges, such as:

  • Time. Train­ing employ­ees can be time con­sum­ing, as it can take a long time for employ­ees to learn new skills and knowl­edge.
  • Resis­tance. Some employ­ees may be resis­tant to upskilling and reskilling, as they may feel that the train­ing is unnec­es­sary or not rel­e­vant to their job.
  • Lack of resources. Busi­ness­es may not have the resources or staff need­ed to pro­vide upskilling and reskilling to employ­ees.
  • Lack of moti­va­tion. Employ­ee moti­va­tion is key when it comes to upskilling and reskilling, as employ­ees need to be moti­vat­ed to learn and apply the new­ly acquired skills and knowl­edge they have learned.

The Impact of the Great Resignation on Upskilling and Reskilling Employees

The Great Res­ig­na­tion is the term used to describe the trend of employ­ees leav­ing their jobs in search of bet­ter oppor­tu­ni­ties. This has had a major impact on the upskilling and reskilling of employ­ees, as busi­ness­es are now more like­ly to invest in pro­fes­sion­al devel­op­ment in order to retain their most tal­ent­ed employ­ees.

The Great Res­ig­na­tion has also had a major impact on the job mar­ket, as busi­ness­es are now com­pet­ing for the finest tal­ent. This has made it even more imper­a­tive for busi­ness­es to invest in upskilling and reskilling employ­ees, as it can help to attract and retain the most tal­ent­ed employ­ees.

Potential Impact of an Economic Downturn on Upskilling and Reskilling Employees

An eco­nom­ic down­turn can have a major impact on the upskilling and reskilling of employ­ees. Dur­ing a reces­sion, busi­ness­es may not be able to invest in pro­fes­sion­al devel­op­ment, as they may need to focus on cost cut­ting and sur­vival.

How­ev­er, despite the poten­tial cost sav­ings, busi­ness­es should still invest in upskilling and reskilling employ­ees dur­ing an eco­nom­ic down­turn. Invest­ing in pro­fes­sion­al devel­op­ment can help to reduce employ­ee turnover, as employ­ees are less like­ly to leave if they feel their employ­er is active­ly involved in their pro­fes­sion­al devel­op­ment. It can also help to improve employ­ee morale, as employ­ees feel more val­ued and appre­ci­at­ed when their employ­er takes an inter­est in their pro­fes­sion­al devel­op­ment.

The Role of Technology in Upskilling and Reskilling Employees

Tech­nol­o­gy can play a major role in upskilling and reskilling employ­ees. Tech­nol­o­gy can help to stream­line the upskilling and reskilling process and make it more effi­cient. It can also help to reduce the cost of upskilling and reskilling, as busi­ness­es don’t need to hire out­side train­ers or pay for expen­sive mate­ri­als.

Learn­ing Expe­ri­ence Plat­forms can be a very valu­able tool to invest in for upskilling and reskilling employ­ees. These plat­forms allow busi­ness­es to cre­ate, deliv­er, and track train­ing mate­ri­als, as well as man­age and mon­i­tor the progress of employ­ees.

Team of business people stacking hands. Boost Employee Engagement.
Employ­ee engage­ment is essen­tial to the suc­cess of any orga­ni­za­tion.

Learning Experience Platforms for Upskilling and Reskilling Employees

Learn­ing expe­ri­ence plat­forms allow busi­ness­es to cre­ate, deliv­er, and track train­ing mate­ri­als, as well as man­age and mon­i­tor the progress of employ­ees.

Learn­ing expe­ri­ence plat­forms can be cus­tomized to meet the needs of the busi­ness, such as pro­vid­ing cus­tomized cours­es, quizzes, and assess­ments for employ­ees. They also pro­vide detailed feed­back for employ­ees, which can help to iden­ti­fy any areas of improve­ment.

Conclusion

Upskilling and reskilling employ­ees is essen­tial for busi­ness­es in the dig­i­tal age. It can help increase employ­ee pro­duc­tiv­i­ty, engage­ment, and reten­tion, as well as reduce costs and improve cus­tomer ser­vice. It can also help busi­ness­es stay com­pet­i­tive and attract and retain the best tal­ent.

How­ev­er, upskilling and reskilling employ­ees can come with their own chal­lenges, such as time and resis­tance. It can also be impact­ed by exter­nal fac­tors, such as the Great Res­ig­na­tion and an eco­nom­ic down­turn.

Tech­nol­o­gy can play a major role in upskilling and reskilling employ­ees, as it can help to stream­line the process and reduce costs. Learn­ing Expe­ri­ence Plat­forms can be a high­ly effec­tive tool for upskilling and reskilling employ­ees. This is because they allow busi­ness­es to cre­ate, deliv­er, and track train­ing mate­ri­als, as well as man­age and mon­i­tor the progress of employ­ees.

Over­all, upskilling and reskilling employ­ees can be a worth­while invest­ment for busi­ness­es, as it can help to increase employ­ee pro­duc­tiv­i­ty, engage­ment, and reten­tion, as well as reduce costs and improve cus­tomer ser­vice. Invest­ing in tech­nol­o­gy to upskill and reskill employ­ees can be a great way to ensure that employ­ees are prop­er­ly equipped to han­dle their jobs and that busi­ness­es are stay­ing ahead of the com­pe­ti­tion.