Why Companies Should Invest in Reskilling and Upskilling Employees

Upskilling is the act of giving a person, often an employee, further opportunities to better their current professional skill set. Reskilling, on the other hand, is training an individual to take on a new yet related skill to fulfill a new responsibility. While upskilling and reskilling may have different purposes, they are effective ways to empower your company’s workforce not only to do a better job but to feel their presence is valued. 

But there are more benefits to upskilling employees or reskilling them. A happy and fulfilled community of workers does not only become more productive, but the effects go all the way to your company brand and even your employer’s brand. Hence, putting in efforts to pave the way toward your workforce’s career development helps you reap the rewards listed below.   

You can improve employee retention. 

While the pandemic can be blamed for the increase in professionals leaving their jobs to search for greener pastures, this exodus of employees was already identified even before COVID-19. The Great Resignation resulted in an increase of 0.10 percent in the average of people quitting from 2009 to 2019. Various reasons for leaving job posts include rising costs of living and preserving one’s mental health. Still, an overall lack of job satisfaction seems to be the final nail in the coffin. 

Reskilling and upskilling employees do a lot to this fading job satisfaction and ultimately gain the interest of professionals to continue in the company. In a survey conducted among workers in an 18-to-24-year-old bracket, 66 percent ranked learning new skills as the top three in their considerations in looking for a new job. So, why not put new skills acquisition in your own company now so that employees won’t look for them elsewhere?  

It’s important that all employees, at the start of their contract, have a career development plan that will not only list down their required training but also what possibilities they can achieve in the company. As they go along their tenure within the organization, they should be reminded to discern a specific career path they are interested in taking on in the future. 

This is where upskilling and reskilling come in. Employees interested in taking on different roles might need reskilling, while those who would like to keep on a straight path towards development will appreciate some upskilling. These opportunities for professional growth can be provided through: 

• Workshops, seminars, and online courses. You may allow employees to search for lectures or courses they would like to take and give subsidies for them to take such opportunities. They will appreciate it and realize that their workplace shares their desire to improve professionally. 
• Peer-to-peer coaching. Skill building can be monitored by asking a senior employee to assist in upskilling or reskilling coworkers with great potential. This can work both ways: the mentored employee gains new skills, and the senior employee is empowered through this mentorship role, even showing how they can be a future leader through the tutelage they’ll share. 

Improved employee retention also leads to a more sustainable workforce. Company morale increases because of the appreciation employees get through upskilling and reskilling. Motivation rates are high, and productivity will soon follow. Business goals will be met with less difficulty, all because the workforce is united in feeling their professional presence is valued. 

Your company will foster a more positive work culture. 

A global survey reveals that 77 percent of workers are in dire need of being upskilled. Pushing forward chances for workers to go through a new learning experience supports a culture of development within the workforce. Employees will then be more welcoming of opportunities to acquire new skills. Upskilling then has a direct effect on improving company culture.  

Aside from building a culture of learning, upskilling and reskilling can also influence your company’s professional community to not only become better but to be united in becoming better at: 

• Acknowledging mistakes. Upskilling employees or putting them up for reskilling brings them back to a state similar to when they were neophytes. They are to try their hand again at applying an unfamiliar skill, which involves a lot of trial and error.  

Understanding that one cannot still do it right even after many years in the company grounds employees into a state of professional humility. It also sets a good example to new employees to see their seniors strive to still better themselves, despite having to go through the learning process again. 

• Being career and goal-oriented. Truth be told, a third of job hunters are willing to get a lower salary just to be in a new job that will give them new skills.3 This want to get new skills and improve in one’s career need not be fostered in another company. Upskilling and reskilling employees can support this career-mindedness and goal-oriented disposition by giving opportunities for new skills. 

• Practicing flexibility for new responsibilities. When chances for job expansion are opened, employees who are open to new responsibilities will see upskilling and reskilling as a means to give them job flexibility. Being able to perform a number of roles not only makes one an asset to the company but also improves their chance to be with the company for a long time. In today’s job market, job security is an asset. 

Your organization will gain an amiable company and employer brand. 

Strong company culture will definitely find its way out of the office and into the ears of potential employees and clients. Upskilling employees regularly inculcates in them that the company wants them to improve, and this kind of concern bodes well when they are asked about the job they are in. Won’t it be great to have positive word of mouth as a free means to advertise your organization? 

Once upskilling and reskilling have been applied to your company, this might be a good idea as well to look into how to create your online brand. To entice both clients and potential hires to engage with your company, current employees may be asked to write testimonials or company reviews that can be posted on your company’s social media platforms. 

Also, events related to upskilling, such as professional development days, are opportunities to gather photos and videos of your workforce engaging in new lessons and skills for their roles. Such media can be used to spruce up your social media accounts. 

Upskilling and reskilling are no easy implementations, especially from the standout of company managers and other stakeholders. But investing in your employees has significant effects both in and out of your company. 

LET DAVIS COMPANIES GIVE YOU A HAND IN ACHIEVING OPERATIONAL EXCELLENCE. 

Upskilling and reskilling are means to commit to continuous improvement. If you would like to hire a workforce that is dedicated to bettering themselves through professional integrity, you’ll need a staffing partner that will deliver superior services. Davis Companies is here for you. 

We are dedicated to building in-depth relations with the people we hire and encouraging them to become the best versions of themselves. Trust us that we will defy the norms of your industry, as we believe that being challenged is the best way to achieve goals and diminish obstacles to success. 

We are eager to share the Davis Way with you. Contact us today.