To understand the importance of reskilling in today’s workforce, we asked professionals from various industries to share their insights. From managing staff changes effectively to meeting industry benchmarks, these CEOs, HR directors, and other experts reveal the top reasons employees need reskilling.
Navigate Changing Job Markets
One reason employees need reskilling is because of rapid advancements in technology and changes in the job market. Many jobs that were in high demand in the past are now becoming obsolete because of automation and other technological advances. This means that employees who have been in the same job for a long time may find that their skills are no longer relevant or in demand.
Reskilling can help employees stay competitive in the job market and adapt to changing industry trends. It can also provide opportunities for career advancement and higher earning potential.
By investing in reskilling programs for employees, organizations can ensure that their workforce has the skills and knowledge needed to succeed in the rapidly changing job market. This can also help to retain talented employees and create a more engaged and productive workforce.
HR Operations Manager, Walker Miller Energy Services
Manage Staff Changes Effectively
The best reason to create an employee reskilling program is because it’s a very effective way of handling staff changes and managing personnel. It’s easier and safer to invest in an employee that could fill a vacant role than to spend resources on finding a perfect candidate. That way, you know what you’re working with, and you can instead focus on replacing a less crucial vacancy.
Marketing and Outreach Manager, ePassportPhoto
Become a Forever Student
The current version of yourself might work for today but not guarantee success for your tomorrow. Many businesses now have various different generations in the workplace. So what does this mean?
Various talent at different levels exist no matter what level you are at work. One should challenge oneself to always stay in the posture of a student. A forever student, as I like to call it. Willing, open, curious, and passionate about learning.
There is a development principle called p: 70.20.10. One should learn on the job, which equals 70%, and 20% is the coaching and feedback. The last is 10%, which is learning through courses or training and development.
A lack of knowledge is just too expensive. So reskilling, learning, and unlearning are a part of staying relevant. New skills open new doors and more opportunities. Your gifts and talents will make room for you! Don’t be afraid to learn and seek out a person who you know is good at what you need to get skilled in.
Tanya Turner, MBA, SHRM-CP, PHR
HR Director, SALTO Systems, Inc
Adapt to New Technologies
Employees can’t return to school every time a new technology comes out, so the responsibility is on leaders to retrain and reskill employees. Not only will leaders be able to retain valuable institutional knowledge, but employees who’ve experienced a career shift or reskilling are better prepared for the change inevitable in today’s workplace.
Stay Employed, Enhance Skills
Employees need reskilling because of the emergence of new technologies. With the rise of automation, artificial intelligence, and machine learning, many jobs are becoming obsolete.
However, new jobs are also being created that require different skill sets. Reskilling can help employees to acquire these new skills and stay employed. Moreover, it can also help employees to enhance their existing skills and become more proficient in their current job.
With the relevant skills, reskilling can help employees to broaden their horizons and become more versatile. This can open up new job opportunities and increase their chances of getting hired. In addition, employees can negotiate for better salaries and benefits.
In the end, reskilling can help employees gain new skills, enhance their existing ones, and remain engaged and motivated at work. By investing in reskilling, they can increase their employability, negotiate better salaries and benefits, and enjoy a fulfilling career.
Founder and CEO, 180 Engineering
Boost Employee Retention Rates
Employees do not want to stagnate any more than a business owner does, and reskilling employees through a comprehensive succession plan is one of the best ways to maintain a high employee retention rate. Over 90% of managers feel their companies’ skill development programs are lacking in quality, and nearly half of all workers state this deficit played a major role in their decision to leave a position.
Having a reskilling program that includes mentoring, continuing education, and quarterly check-ins to monitor progress is essential to ensuring that your employees feel they are moving forward along with the business. By including a quality succession plan, you will satisfy your employees’ desire to reach their goals and better maintain high retention rates.
Increase Productivity and Teamwork
When employees learn new skills, they become better at their jobs, and the entire team works more efficiently. By providing opportunities for growth and learning, companies help their employees feel more motivated, engaged, and satisfied in their roles.
This, in turn, contributes to a positive work environment where employees can reach their full potential. As a result, organizations benefit from increased productivity, enhanced teamwork, and reduced turnover rates.
Furthermore, a workforce that continuously develops new skills and expertise can better adapt to change, fostering a culture of innovation and resilience that benefits the company in the long run.
CEO and Founder, Corrie Cooks
Evolve Your Problem-Solving Skills
One of the biggest reasons employees need reskilling is to make sure their working tactics and problem-solving skills sharpen and evolve. Employees in this remote, digital workplace tend to go through countless tasks and projects a week, and their already developed skills and prior knowledge may not always be the key to success as time goes on.
If your employees stay stagnant and do not expand upon their work knowledge, then they won’t have the skills and tools needed to succeed in times of change in your business. It’s important for every employee, including upper management, to keep learning new things in their workspace so they can utilize their new knowledge for uncertainty or when some projects need a different approach to them!
Director of Customer Relations, ServiceTitan
Advance Your Career
Learning new skills means you won’t have to look over your shoulder and worry about new employees who are familiar with new technologies taking your job or moving past you up the ladder.
Embrace the learning. Understand that learning new skills and familiarizing yourself with new technologies will be good for you. It will be good for your standing at the company you work for and will be good for your professional career, even if you decide to go elsewhere
Business Development Manager, Patriot Coolers
Show Value and Potential
To show them you value them and recognize their potential to positively impact your business. Upskilling programs are only effective if they lead to employee growth. Investing in training and development programs gives employees opportunities within the existing business but also helps them see their future career potential.
I’ve worked for several organizations that had strong learning and development programs and successful internal career advancement numbers. They were great places to work because they prepared employees for future career opportunities.
Showing employees you care about them as individuals and want to see them succeed long term and not just day to day in the hours they’re giving to your business leaves a lasting impression. And, while it doesn’t guarantee an employee will stay with the organization for years and years, it typically equates to that person being an ongoing advocate for your business, both as a career opportunity and as a customer.
Director of Client Strategy and Success, theEMPLOYEEapp
Grow and Seize Opportunities
A growing company needs a team that can rise to the occasion when opportunity calls. It’s natural for some companies to turn down bigger projects when their employees aren’t prepared for them.
And this is why reskilling is so important. It allows employees to excel at their current role while preparing for something bigger to come. This enables the company to grab an opportunity when it comes and is crucial for growth.
CEO, Human Tonik
Save Costs, Foster Loyalty
Reskilling is cheaper than hiring new talent every time there is an industry change in tools, technology, and methodology. Keeping staff around and continuing to improve their skill set also creates a team that feels positive and loyal to the company.
Lindsay Duston, CPRW
Chief Human Resources Officer, Find My Profession
Enhance Adaptability, Achieve Success
Through reskilling, employees can enhance their adaptability, increase their value within the organization, and ultimately contribute to the company’s overall success.
Besides fostering personal growth, reskilling also equips employees with the tools to tackle new challenges and seize emerging opportunities, thereby ensuring their career longevity and professional progress.
Maintain Relevance in Industry
Industries change, businesses change, and employees need to learn to roll with those changes, which is where the art of reskilling comes in.
The skills that an employee once brought to your business may not be entirely applicable anymore, and reskilling might be required in order to maintain both efficacy and efficiency. You want to keep your business relevant without having to overhaul your team every time trends change, and reskilling is the most productive way to achieve that.
Co-Founder and CEO, Pepper Home
Meet Industry Benchmarks
Like everything else, our skills too come with a shelf life. The average shelf life of our skills ranges between 1-2 years. Simply put, the skills that were relevant in 2015 might differ largely from those relevant in today’s day and age.
In the information age, skills require faster upgrades than ever before. Most millennials joining the workforce consider continuous professional development as a key feature to staying longer in an organization. When employees realize their learning has become stagnant, they feel the need to transition out.
Changing times demand upgraded skills for most professionals to stay relevant. Therefore, companies must take active steps to enable their employees to acquire new skills and stay relevant to the industry benchmarks. This enables companies to nurture talent, retain top performers, and also bring employees closer to achieving the company’s goals and objectives.
Deputy Manager, Social Impact Consultant, and Career Coach, ICICI Foundation
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