The Importance of Employee Upskilling

The Importance of Employee Upskilling 2400 1600 Balance Point Team

Now more than ever, businesses are trying to keep up with technological advances. Although technology creates new opportunities for many companies, it also demands a need for skilled workers. As businesses struggled to stay afloat in 2020 due to COVID, priorities shifted. The need for maintaining a strong workforce is essential, so a key component to achieving successful business operations is upskilling employees. 

Upskilling is not just a fancy term for employee development nor something “nice” employers are offering anymore. It is now a crucial part of closing the skills gap, retaining top talent, and building a strong cross-trained workforce. The ability to upskill and expand employee competencies gives companies a competitive advantage. Here we explore the importance of employee upskilling and how it affects your business.

How Employee Upskilling Affects Your Business

Upskilling and reskilling programs are a small investment to make compared to the costs of employee turnover. The ability to train and educate your employees from within can improve employee retention and engagement, help to build a more collaborative workforce, and increase efficiency. 

Let’s face it, employee expectations are changing. No one wants to feel “stuck” in their career. Robert Half reports that while searching for a job, one of the top priorities for Generation Z is growth opportunities; however, professionals of all ages know that in order to stay relevant in their careers, continual development of skills and education is essential. Upskilling shows employees that businesses care about their careers. 

When providing upskilling or reskilling training to employees, it is a win-win situation. Employees feel valued, excited, and have a brighter outlook on their future with the company. New skills put them in a position to succeed. The employee gets a desired growth opportunity, and the company gets a well-trained and experienced individual. 

How To Upskill Employees

There are many ways to offer upskilling opportunities to your employees whether it be through company-wide classes, enrichment programs, or peer coaching. Once you assess the type of skills your company needs most from its employees along with future growth opportunities, it is easier to establish a go-forward strategy. Here are some ways you can encourage upskilling and reskilling programs within your company. 

Lunch and Learn

For staff that work in-person but do not want to interrupt their workday, a lunch-and-learn opportunity could be a good fit. Invite employees to bring their lunch while diving into a training session. 

Microlearning

Microlearning gives the ability to learn and absorb information in small increments. Some training sessions are video based with short exercises to complete. Quick sessions allow employees to participate on their own time and more frequently throughout the day. 

Virtual Training

Remote teams are more popular now, and connecting offsite employees can be difficult. There may be times when employees feel detached. Virtual learning is a great way to build inclusion among in-person and virtual employees. Participants have the ability to log on from any location and take part in training sessions.

Encourage Employees To Engage In Upskilling Programs

Creating upskilling and reskilling opportunities within your business is a crucial part in the growth and development of your company. Encourage your employees to participate in the programs you offer. Employees who are successful at their role are more likely to stay within a company. By upskilling, you’re not only building a strong workforce for your company but creating a connected and happy staff that will continue to thrive.

As businesses focus on resilience, flexibility, and continuity, learning management plays an essential role in achieving long-term goals.

To learn more about Balance Point’s learning management solution, click here.

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