Upskilling is a priority for four in five business leaders

varsha sarkar

August 30, 2023

8:25 am

Upskilling in the workplace involves promoting continuous learning by offering training and development opportunities to expand the skills, knowledge, and competencies of your current employees. Not only does upskilling give your team the chance to build expertise and help them advance their personal and professional growth, but it can also enhance employee engagement, satisfaction, and performance—factors critical to the future success of your business.

Upskill Certificate is designed to help working adults build in-demand professional skill sets in a work- and family-friendly format. Among the many powerful outcomes of this program include the ability to practice and apply critical thinking skills in the workplace, use empathetic skills to build upon other perspectives, and employ rhetorical strategies to persuade through written and verbal communication.

1. Increase retention of employees

It’s crucial to keep exceptional employees, and the truth is that if you’re not willing to invest in their professional growth, you run the danger of them departing for companies that will. Employees won’t be able to see a future with your business if they aren’t given the chance to learn, develop, and improve. Yet, by investing in upskilling programs, you not only boost the worth of your team members to your company but also show that you are committed to giving them a chance to advance. You must demonstrate to employees that you care about their objectives and that you’re eager to serve as an advisor if you want to increase employee retention.

2. Bridge any talent gaps in your organisation

There is a shortage of applicants who are qualified and eager to fill open positions that call for new talents in today’s employment market. For this reason, some of the top firms are investing millions of dollars in upskilling initiatives that boost client happiness and employee growth. Leadership, teamwork, critical thinking, communication, and data analysis are among the qualities that many businesses want to develop in their personnel. So, it makes more sense to invest in bridging the skills gaps in your company by giving your team the chance to acquire an Upskill Certificate than to waste time and money on recruiting new workers. When you can show your staff that you value them, it benefits everyone.

3. Avoid the expenses of hiring new employees

When employees leave your company, the costs of replacing them might consume a sizable portion of your budget that could be better used elsewhere. The time and money spent on recruiting, screening, training, salary and benefits, as well as the process of integrating new team members into your organisation and culture, are all included in the cost of hiring new employees. In 2020–21, employers spent $92.3 billion and an average of 64 hours per person on training, according to a recent analysis by Training Magazine. After a hire, it may take several months for your business to recover its costs. 

4. Gain a competitive advantage

The abilities and expertise of your staff may provide you with a competitive edge over other businesses and establish your business as a market leader. When employees depart from your company, they take their pertinent skills and background with them. Because of this, it’s crucial to make sure that everyone on your team enjoys their jobs and has a strong sense of commitment to the mission of your company. Not only can happy workers perform better, but their efforts can also increase consumer loyalty and satisfaction. Employee upskilling helps keep them abreast of the most recent market demands and trends, increasing their propensity to be proactive in offering fresh perspectives and business prospects that ultimately benefit your clients.

5. Create a mindset for digital transformation

Leaders would be advised to invest in their current staff to develop the talent they need rather than simply chasing top talent in any industry. The most adaptable businesses have already adopted remote recruiting to expand their candidate pool while relocating to remote work and speeding initiatives for digital transformation. Nevertheless, unless firms consciously allocate resources towards upskilling and reskilling their own employees as well, there is only so much trained talent to go around, particularly in the IT sector.

varsha sarkar

August 30, 2023

8:25 am

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