Employee upskilling and reskilling, retraining efforts are necessary to reduce the increasing skills gap to master a company’s success. Upskilling and reskilling can result in increased employee satisfaction and productivity as well.
Hiring managers, executives and decision-makers in various companies must learn to see why deciding to reskill or upskill their workforce can benefit their business. The companies who have undergone upskilling/reskilling training has witnessed boosted productivity at work.
The new world is driving constant change, and that often means new skills are needed. Upskilling or reskilling programs are a way to bridge the skills gap brought on by constant change. While you could hire in the skills that your company requires, investing in your existing workforce can save you time and money. The more you can work with your current staff and help them make themselves more marketable, the more employee loyalty and productivity you’ll inspire.
This is the 5 step plan you will you need to master company success with employee upskilling and reskilling,
Formal Vs Informal Reskilling and Upskilling
Executing employee training can be done formally, by requiring specific classes and training sessions, or informally, allowing employees to study on their own. There are benefits and drawbacks to both approaches.
An informal process may allow employees to control where and when they want to invest their time in flexible learning objectives, but without a formal professional development or training plan, your company’s time and financial investment may not align with business goals and objectives.
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A structured, formal training program allows a company to set goals, objectives and timelines upfront, so employees know what to expect going in. It’s also crucial to build in an evaluation process, and measure and monitor the time, effort and financial investment of the training program. Formal training does allow for uniformity in terms of messaging and training.
When there is formal training, it is clearly understood what is important. On the other hand, employees learn differently, which is where informal training can be useful. Analyzing your employees and business will be the best way to decide whether upskilling and training will be formal, informal or a combination of both.
Appraise Which Employees Will Receive Reskilling and Upskilling
Establishing an appraisal process to determine which employees are primed for retraining is significant first step. Identify individuals with passion, drive and aptitude to learn new skills. In our experience, individuals who demonstrate these three attributes, even if they have no prior experience working in technology, can quickly learn new skills.
Upskilling and reskilling involves a financial outlay for every company, so select key members of your staff who have usually been with you for a year or more. Offer them the opportunity to extend their skill sets and take on more responsibilities.
Align with Employee Interests and Goals
Learn about employee’s career goals. Then suggest courses for them as a way to support their growth and development. This keeps employees motivated to continue learning, which enhances productivity.
Learning new skills is one thing, but applying them in the field is what matters. Ask your employees—whose courses we cover the cost of—to bring to the table ideas on how their new skills can help our company. Then as a company expect them to put those ideas into action.
Involve and Incentivize Employee Upskilling and Reskilling
Rather than asking employees to study during off hours and pay for courses on their own, some companies cover course costs and allow for training during work hours. Offer employees an annual learning budget. In addition, employees may spend 50 percent of their study time towards earning a certification during normal working hours.
It’s important to note that reskilling and upskilling initiatives aren’t a set-it-and-forget-it proposition. It’s vital that you or someone on our management team oversee retraining efforts. Just as teachers hold their students accountable, you need to do the same with your team. Along with covering the cost of courses, it helps employees stay on track with their studies.
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Check with your employees who are taking classes regularly to make sure they are progressing. This serves as a system of accountability to make sure they follow through on their goals within the company.
Hire with Upskilling in Mind
Hiring employees who embrace change helps when it’s time for upskilling and reskilling. By hiring new employees who welcome the chance to upskill or reskill, you create a stigma around the ‘status quo’.
While interviewing potential hires, ask questions that point to whether they are open to reskilling. Such as:
- What do you do to stay current in this field and continue to improve your skills?
- Share the last work scenario where your work priorities/job description substantially changed and what steps you took to adapt.
- Can you share a time when a project you were working on did not go as planned? How did you manage the challenge or turn it around?
No matter what your business or industry, there’s only one constant, and that is change. Reskilling and upskilling employees helps companies prepare for those inevitable changes and stay competitive, and has the added benefit of keeping your employees satisfied and productive.
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