In this digital world, disruptive change is not only constant but rapid. The only way the workforce can keep up with this change is by constantly upskilling or reskilling. It is not just individuals who seek to upskill or reskill, but companies are also looking to upskill their employees for improved productivity and engagement. So, is upskilling just the latest trend? Or is it important?
The short answer is that it is important. A PwC Talent Trends Report in 2019 found that 79% of CEOs around the world were concerned about the lack of essential skills in their workforce which was threatening the future growth of their organizations. This is a significant finding that cannot be ignored. In 2020, skilling up or re-skilling is not just about picking up new skills or learning how to operate new technologies, but it is also about honing an entrepreneurial and innovative talent.
Investing in employees or oneself beyond work hours
This is the age of millennials as they have entered the workforce and are taking charge. Millennials value experiences along with monetary gains. Simply put – the current workforce either look for companies that offer a chance to keep them current with their skills or branch out to upskill themselves. Millennial learners appreciate when companies provide upskill or re-skill opportunities that are customized for their needs, on-demand, and informal. The digital learning space has opened new approaches to education like microlearning which helps to fulfill the needs of a millennial worker.
The American Society for Training and Development conducted a survey of 2500 companies and found that when companies provided their employees’ opportunities to upskill it increased the productivity of the companies by 218%. This is a major boost not only for the companies but also for the overall morale of the workforce. Businesses get the chance to not only improve productivity but also stay current on the trends in the market and improve the prospect of business growth in the future.
Opening new avenues
It does not matter at which stage or level one is in their career, it never hurts to upskill. There is always scope for improvement and re-skilling helps with the same. Adding new skills to the resume helps one standout in the crowd. Companies seek professionals who are proactive continuous learners. As the nature of work is constantly changing it is good to upskill or reskill to be able to perform optimally at work. A good employee will constantly look for opportunities to upskill or re-skill. This will help open more avenues as they grow in their careers.
Finding skills in areas beyond technology
Today, upskilling is not just about learning new tools or technology. To upskill and reskill in the areas of soft skills, improving culture quotient, driving entrepreneurial ambitions and innovative thinking are equally important. For an individual or business to survive without being connected to the culture of the market is difficult. Helping the workforce upskill not only helps a business engage its employees in a meaningful way, but also strengthen its core values.
The one thing that everyone agrees on is that the world was not prepared for COVID-19. COVID-19 shook the world economy and had an adverse impact on businesses and the job market. Unfortunately, this is here to stay and has a possibility to repeat itself in the future. However, if businesses and individuals keep trying to upskill or reskill themselves, they will be better prepared to face an uncertain future and will have the skills to re-invent themselves within no time.
There is no doubt that there are many benefits to upskill or reskill yourself or your teams. Choosing a platform that provides cost-effective and innovative solutions to upskill is the way to go. Businesses and individuals must ensure that these e-learning platforms equip professionals with not only advanced skills but also create a workforce that is prepared for the changing times.
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