If you want your company to stay ahead of the competition, the most important key is to recruit and retain employees with talented skills to help the company be profitable and successful. Reskilling is a technique to ensure that employees have the access to proper skill development programs to thrive and help the company reach new heights of success. Keep reading to know more about the importance of reskilling and how it can be implemented.

Many people use the terms “reskilling” and “upskilling” interchangeably, whereas that is not the case and both terms mean something completely different. Reskilling means training and developing employees to take a different field or position in their company. Whereas upskilling an employee means preparing them for substantial changes in their existing position. Employers usually implement both upskilling and reskilling strategies to make their organization internally robust and prepared for any circumstances. Advanced technologies are really shaping the companies and there has become an urgent need for reskilling employees to keep up with the competitors. In the coming years, telecom, high tech industries, and financial services will face the most backlash for the skill gap in their employees. To address and eliminate this dilemma, reskilling employees is the best bet.

Benefits Of Reskilling Employees

  • Improved Employee Retention

The current job industry is extremely competitive. Gone are the days when people used to start their career with one company and stick through it till their retirement. Nowadays job-hopping has become essential for career progression. Employers need to devise new ways and strategies according to the employees’ needs to retain them for as long as possible. If an employee has the opportunity to grow and succeed by staying in the same company, there is a high chance that they won’t search for new jobs elsewhere. Investing in a person’s future lets them know that they are an important and valued asset of the company, which in turn helps to retain them for the long haul.

  • Cost Reduction

It is not a shock that the onboarding expenses of a new candidate or lost productivity of existing ones, affect the bottom-line of every company, no matter big or small. Devising reskilling strategies for employees increases their skill sets and values. In the event when an employee suddenly leaves the office temporarily or permanently, any other reskilled employee can easily take up their role and keep the business running smoothly.

  • Attracting Career Oriented Candidates

Studies have shown that when taken feedback during the interview process, 60 % of Millennials voted that they want to join a company that provides growth development and rank increasing opportunities. A company’s decision to reskill its employees can prove to be an astounding way to attract talented candidates. Moreover, word of mouth is always important in the work culture. So if your existing employees are satisfied, they will speak highly of their growth opportunities, which will, in turn, attract their friends and family to join the company.  This will help in fortifying your brand’s credibility too, and in no time all your vacant positions will be flooded with skilled applicants.

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  • Boosting Employee Engagement

A healthy collaborative and competitive environment prohibits the disengagement that could occur if employees feel left out. When employees have a platform to strengthen and expand their skills, they feel more motivated and connected to the company. Training employees for different job roles encourages them to work together, rather than working and competing against each other.

  • Enhancing Morale

Those who are confident and strong in their skills, ooze productivity and creativity. They are bound to come up with innovative ways to strategize and solve all of the company’s problems. Building confidence in certain introvert employees can help them in getting an insight into their underutilized talents.

Steps To Maximize Effectiveness Of Reskilling program

Now that we know that there are a plethora of benefits linked to reskilling the workforce for a better future, let’s have a look at how it can be done strategically to make the most out of it.

  • Unfold Skill Gaps

Once you have created a vigorous map of where you want your business to head, you need to analyze whether your current workforce has all the skills to make this work. You will need to create a balance between the existing skill sets and what every role needs and requires. A detailed skills database of where your employees excel can help in determining their secondary and tertiary skills. You can use this database to compare the skills that your employees are missing out on. This will help in getting a clear vision of where your employees need to work harder.

  • Organize Training

Once you get an idea of what skill sets need to be improved, you can strategize and develop training for those skill-sets for your employees. Many employees are comfortable in what they do and are scared to try out something new. You can consider rewarding them so that they are willing to expand their abilities. This will surely encourage them to participate and focus on their career progression. No one would want to work extra for no incentive or growth, thus ensure that the message that their skill development will help them in advancing within the organization is clear. All the employees in a company obviously don’t have the same job description, therefore personalization of varied skill-sets will be needed to meet the demands. Offering an amalgamation of different training methods is a must. The reskilling strategies in your company should be efficient enough to provide every kind of training required by the employees.

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  • Combine Reskilling Strategies

You should implement different educational techniques to make sure that any employee doesn’t have a hard time following them. This will help in increasing flexibility and bring out options to fulfil the skill development gap that you are trying to address. The more variety of training you offer, the higher employee participation will be. Some examples of such techniques are-

  1. Online Learning- Online courses have a plethora of benefits, the key one being that they can be accessed from anywhere at any time. It is easy for any kind of learner to grasp easily and even if they feel they have missed out on some part, they can simply go online and review it again.
  2. Peer Learning- When employees work together to brainstorm ideas, there is a high chance of some masterpiece being born. Not only does this boost their creativity, but also brings them closer to each other socially.
  3. Blended Learning- Blending classroom training with online training ensures that all study material is covered. It also provides the employees an opportunity to share their ideas or ask any doubts to their mentor.
  • Encourage Job Shadowing

Job shadowing is a fool-proof way of making employees ready to take on any other role in the department. Encouraging employees to follow and observe their seniors throughout the day to know what the job role entails. In short, job shadowing helps to prepare employees to take on any other role if and when needed successfully.

  • Promote Digital Learning

Pandemic has taught every company how important it is to be well versed with the digital world. In the span of a moment, employees had to start working remotely from home that required having the basic knowledge of digital skills. The digital world is a reality that is going to keep on evolving and enhancing, and it is crucial for companies to prepare their employees for any new technology that may come their way.

  • Measure & Assess Success

There is no point in investing in the reskilling strategies program unless it is proving to be effective. So clearly, it is imperative to measure the impact of reskilling the employees. Measuring the effectiveness of reskilling employees starts by gathering data from several sources, including polls or surveys, post-training assessments. and discussions. Once you have all the data, you can make decisions on where the skilling technique needs to be improved and where it’s proving to be most effective.

  • Promote Life-Long Learning

Reskilling is a never-ending process, hence every organization needs to offer a continuous program for the same. A knowledge-seeking mindset can be encouraged for employees so that they can embrace new skill development opportunities. Every manager must know the importance of reskilling their employees and actively take part themselves as well. Once the leaders understand the importance of reskilling, they will whole-heartedly promote it throughout their tenure.

Takeaway

Clearly, the reskilling process is an essential way to ensure that your employees are well-versed with all the skills and are aligned with the targets and goals of the company. It is a mutually beneficial venture that provides career progression to employees and a robust workforce for the company.

To know more about why creating a robust workforce is important, read out Pocket HRMS blogs here.

 

 

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