The importance of effectively reskilling and upskilling your workforce

There have been many changes in the way we work in the last few years. These changes have been influenced by accelerated digital transformation. No one can know exactly what the future of work will hold.  Dell predicts that 85% of jobs that will be carried out in the next ten years haven’t even been invented yet

In this situation, many professionals and companies are in danger of being left behind if they’re not able to keep up with change. McKinsey & Company conducted a worldwide survey which found that nine out of ten managers and executives are experiencing a lack of necessary skills in their organizations or expect to do so in the next five years.

The opportunity for disruptive companies lies in applying reskilling and upskilling. Reskilling is improving or acquiring new skills to complement existing ones and upskilling is updating the skills you already have. Both improve the working environment and the company’s competitiveness. Professionals must embrace continuous learning to not be left behind in the job market.

Why are reskilling and upskilling so important?

Although 42% of companies have been forced to postpone their upskilling and reskilling due to Covid-19, both of these concepts are expected to become key trends in corporate training during 2021. 

The results outlined in The Future of Jobs Report 2018 show that at least 54% of employees will need to update and improve their skills significantly for 2022. And this global survey by PWC reveals that 74% of CEOs are worried about their employees’ lack of key skills, highlighting the imminent need for professionals to improve their skills.

In this situation, reskilling and upskilling are becoming two great allies for organizations that want to guarantee their survival, as well as boosting their results in an increasingly competitive environment.

When companies apply both of these concepts, they can:

• Create confidence.
• Promote talent retention.
• Close the digital gap.
• Attract professionals of all ages with the proposal of constant growth within the organization.
• Simplify selection and onboarding processes.
• Offer employees better mobility within the company.
• Improve employees’ daily performance.
• Adapt the company culture to a changing work environment.
• Foster continuous learning.
• Increase professionals’ participation, motivation, and productivity rates.

How to successfully promote reskilling and upskilling

Now that you know the importance of reskilling and upskilling, it’s time to learn how to implement them effectively in your company with these five easy steps:

1. Analyze your company’s current situation to determine what direction new roles and needs will take.
2. Take into account the results obtained for selection processes, as well as measuring current employees’ skills. This will help determine who needs upskilling and reskilling more.
3. Apply learning pathways for each type of profile. Online training will simplify implementation and can increase engagement if you use innovative methodologies, such as game-based learning. 
4. Evaluate the results obtained and participants’ feedback.
5. Continue investigating constantly to stay up to date with the trends and update the learning pathways to your company’s needs.

As we’ve seen, reskilling and upskilling have become ever more important to the success of a company. Providing your employees with the skills they need to effectively carry out their jobs will create a happier and more productive workforce, which is paramount to achieving the desired results for the organization.