Upskilling and Reskilling: Growing Your Workforce for the Future
Updated: Jan 23
It's hard to create content right now without somehow acknowledging The Great Resignation. It's continuing to affect businesses at all levels. Combatting the exodus of top talent needs to have a multi-pronged approach, including upskilling and reskilling. Upskilling is the intentional training of current team members on new and vital skills that will be critical for future success. So, what does upskilling look like for your company?
What is Upskilling or Reskilling
You might think that "upskilling" is fancy corporate-speak for "training." That's a little true, but it's more complex than that. Upskilling is the idea that we can work with our current talent to train them in new technologies essential for the organization's continued success. Upskilling is critical for many reasons.
· It breeds loyalty among current team members
· It provides access to new skills
· It reduces recruitment costs
Reskilling is similar. For example, among autoworkers, when a previously desired skill is no longer necessary due to technological advancements, rather than hiring new tech workers, you can reskill existing employees to meet these needs.
How to Hire for Potential
The benefits of upskills have to start with the initial interviewing process. If you're not hiring people capable of learning new things, then upskilling won't be a successful experience. There is one crucial truth in recruiting: it's always more cost-effective to replace entry-level employees and promote from within than source and hire higher-level team members.
When you hire for potential at the start of someone's career, you'll be able to provide upskilling and reskilling throughout their career. Investing in your employees increases retention and career satisfaction. And retention leads to a better corporate culture and employer brand.
What new technologies are at the forefront of the upskilling experience? Big data analytics, artificial intelligence, blockchain technology, and machine learning are all technologies that profoundly affect the job market. There is a fear that some of these can replace the need for employees altogether, but that's not entirely accurate. Like any technology, humans need to guide and operate them. So, moving someone from manual operations to a role that incorporates some of these technologies can be what your company needs to take your success to the next level.
Do you want to know more about talent development and upskilling? Sigred Solutions is your recruitment partner. We connect great employers with amazing talent and stay to support your success. Call us to learn more today.