What is Upskilling and How Does It Benefit Employees and Employers
Upskilling, an industry term that is becoming more and more popular, “refers to the process of
individuals learning a new skill,” according to Forbes.com. It is essentially a way for employees to
learn new skills to help advance in their career and/or increase eligibility for new positions or
promotions.
Upskilling is gaining popularity as older generations, specifically Baby Boomers, are starting to
leave their positions and retiring, leaving open availability to typically less skilled younger
generations. This trend is quickly creating a skills gap in many industries. To fill this skills gap, upskilling has emerged as an excellent way to help advance employee skills and further their careers.
Why Upskilling is Good for Employees
So, aside from the potential to learn more and further your career, why else dedicate time to
learning a new set of skills? Dedicating time towards enriching your skills can earn you a raise
as you’re now more equipped to take on additional responsibilities. Enhancing your skill-set also makes you more eligible for a promotions and gives you more power to negotiate in the job market.
Why Upskilling is Good for Employers
As the demand for qualified talent has risen and the supply hasn’t kept pace, upskilling and developing your team’s talents is a great way to plug the skill gaps a your firm. Current employees already know your business and upskilling is an excellent way to retain high performers and help them grow, benefiting both the employee and your business.
Ways Employers Can Offer Upskilling Opportunities
- Leverage in-house experts
- Use webinars and video conferences
- Build a culture of mentoring
- Take advantage of online training content
- Use personalized training tools
With so many resources such as Skillshare, Udemy, and more it is easy to upskill in any
industry. As a job seeker, it’s best to take some time to learn what skills would be most beneficial for your specific career path and how you can learn those skills. As an employer, examine where the skill gaps are in your team and look for ways to grow the people that are helping build your business.
