Rapid technological advancements have posed challenges to businesses in keeping pace with the new skills associated with those advancements. Undoubtedly, technology facilitates businesses to grow manifold, but it also disrupts many legacy systems and widens the gap of mismatching the skills with the latest techniques in manufacturing, construction, healthcare and other industries. For talent acquisition teams, two options are always on the table: hiring new talent from outside or upskilling and reskilling the existing workforce in their talent network. The hiring process, as we all know, can be time-consuming and appointing a highly qualified and skilled person may not be as beneficial as upskilling or reskilling your experienced employees who know everything about the company its products and services. Upskilling offers current employees the opportunity to learn additional skills which can help better their success within the business world.
By arranging appropriate training programs to upskill or expand the skills set of your employees, you can bridge the skill gaps, connect with your employees and gain advantage in the ever-increasing technology-driven business world. AI-driven talent management solutions can help you simplify this process speeding up your talent search leveraging skills inference technology and selecting qualified candidates based on the exact skills you need in your talent network.
Upskilling is upgrading the skills of present employees to take up the changing roles due to market dynamics. Many businesses prefer to train their employees rather than embarking on talent acquisition projects and reaching out to recruitment agencies. It can be the training in technology, marketing, manufacturing, social skills according to the updated demand of the business. Reskilling is when you train an employee to acquire a new skills set for a new job. Reskilling and upskilling can help employers create a cross-trained workforce, enhance the potential of present employees, and connect closely with them.
Retention is an essential factor for business growth and upskilling can help you retain talent. Providing growth opportunities to your workforce and engaging them in the evolving roles can be a long-term investment for your company.
If you let your employees explore career options within the company’s talent network, it will boost their morale and employee trust. Talent upward mobility encourages employees to stay with the company and learn new skills to perform better.
A satisfied workforce leads to happy customers and improvement in the company's reputation. When your employees are happy and trust the company, they show better performance in their assigned roles. Upskilling and reskilling keep your team enables them to dedicate themselves more to your client needs. Satisfied clients become resonant brand advocates for your company and don't hesitate to pay more to a proactive and competent team.
Most organizations work on optimizing their workforce to bridge their skill gaps. Upskilling and reskilling their employees can be a right strategy to accomplish their talent upward mobility targets in their talent network. So, how can this be done?
Micro training for large-sized companies may prove to be an advantage as the workforce may include remote employees. Small-sized training modules are easy to launch and complete for all employees.
Mentorship programs are beneficial, whereby employees are about to assume new roles at a more senior level, or are newly recruited employees. Associating experienced employees with the individuals provides appropriate guidance to the mentees.
Companies can encourage employees to attend training as per their needs. The training can be through in-house or outsourced agencies. The management may encourage self-training by offering incentives to interested employees.
A well-planned learning culture in an organization should become part of the business strategy. An ongoing learning process provides ample opportunities for employees to grow both personally and professionally.
To develop an edge over your competition, you should continuously recognize the skills gap in your talent network and prioritize bridging them. While upskilling and reskilling your existing workforce can help you acquire or learn a new skills set and get ready to take up new tasks and positions, talent acquisition helps you successfully hire the best candidate for the right position. Organizations need to identify the changing dynamics in talent supply and demand based on developments in their respective markets. By adopting an optimized strategy, you can simplify your talent management lifecycle and talent acquisition processes.
By using the tactics of employee upskilling, your work community will become more acquainted with one another and with different roles in the workforce. Request a demo to explore how tilr can help you achieve your talent management objectives.