A 2021 study by Gartner, Inc. showed that 58% of employees need new skills to do their jobs successfully. The emerging skills gaps became even more apparent due to the ongoing business disruptions and rapidly evolving needs resulting from the coronavirus pandemic.
The World Economic Forum released a report the same year stating that by 2024, 94% of business leaders expect employees to pick up new skills on the job. This helps solve the problem of struggling to find qualified workers to continue company operations.
What Is Causing the Upskilling Revolution?
The expansion of employees’ skill sets is becoming increasingly important. Adding to employees’ existing knowledge and abilities lets employers fill critical roles that otherwise may remain vacant for extended periods. Because the nature of work is changing, employees need to upskill to keep up with the demand for services.
Employees’ ability to perform additional functions directly impacts companies’ ability to continue business operations. Companies need employees with additional skills to maintain business growth and revenue to stay competitive.
What Are Some Employer Benefits of Upskilling?
Job seekers tend to look for employers who provide ongoing training opportunities. According to a report by Survey Monkey, 86% of employees say job training is important to them. This can make your company more attractive to candidates. It also can be used as a recruitment tool for hard-to-fill roles.
Most employees want a company culture that emphasizes learning. According to a 2021 report by PricewaterhouseCoopers, 77% of employees want upskilling to be part of their jobs. Prioritization of upskilling can significantly increase collaboration, job satisfaction, and employee morale.
Upskilling typically increases employee engagement. Most employees value the ability to learn and grow within their positions. This helps them remain competitive in the workforce. The more skills employees have, the more value they can provide employers. This opens up additional job opportunities in the future.
Employees tend to stay longer with employers who provide opportunities for advancement. Engagement in upskilling helps provide the foundation for career growth. The longer employees remain with your company, the lower your recruitment costs.
What Are Some Strategies for Upskilling?
Use your company goals to identify the areas and skills you want to develop. For instance, you may want your logistics team to stay updated on industry software. Or, you might want your sales and marketing teams to use social media to its full potential.
Include upskilling in employee development plans and performance reviews. You may want to tie upskilling plans to an employee’s goals or future promotion. Be sure to emphasize how upskilling will help each employee with career advancement.
Provide stretch assignments to help an employee add to their skill set. Taking on opportunities outside of an employee’s scope of experience provides on-the-job learning. This may include leading a team project or taking on a new role.
Be sure to follow up with each employee and track their progress while upskilling. Measuring outcomes is an important part of success. Make the necessary adjustments along the way to help employees reach their upskilling goals.
Fill Your Upskilling Needs with High Profile Staffing
If you are struggling to find skilled employees, contact High Profile Staffing for help. Get in touch online or call 972-991-7900.