upskilling

The Value of Employee Upskilling

Take your organization to the next level by increasing your employees’ skills. The term ‘upskilling’ is now used to describe the sophisticated planning required to keep pace with current workplace demands. As it sounds, upskilling is more than your typical skills training. It involves both upward and forward planning.

Upskilling Benefits

This is one approach to organizational advancement that benefits your business as well as employees. Consider that:

  • Providing opportunities to learn and advance improve employee engagement and performance. These, in turn, have a positive effect on retention and positive business outcomes.
  • Employee retention benefits the bottom line by limiting the costs associated with recruitment and hiring. At the same time internal capacity and succession increases.
  • Today’s employees want, and expect, opportunities that add to their knowledge and experience. They seek out employers who offer learning benefits and perks.

Vision Your Future—Upskill Today

As your team forecasts your business future, you’re surveying the critical elements required to get there. That includes assuring that employee abilities keep pace with emerging technologies and processes.

  • Provide opportunities for online or in-person learning bursts such as:
    • YouTube sessions that have your approval.
    • Take a break to share tips by offering staff an extra break or two during the week when they exchange helpful hints with each other.
  • Support employees who perform well and aspire to advance with your company by:
    • Providing lunch and learn sessions that focus on credentials for finance and accounting professionals.
    • Offering invitational workshops focused on select skills such as strategic thinking, software upgrades for data analysis, and portfolio development.
    • Establishing a fund that supports continuing education for employees working toward an undergraduate or graduate degree.

Track Outcomes of Your Upskilling Programs

Track outcomes of your upskill strategies and return on investment. Along with assuring that the upskilling methods your team selects are fiscally astute, learn to make needed changes.

  • Survey those who participate in the upskill selections you offer.
  • Remember that anecdotal feedback is worth noting.

 

You may also find the “Pros of Professional Development” helpful.