Upskilling in Modern Corporate Life

The Importance of Upskilling in Modern Corporate Life

Let’s be real - getting a job nowadays is not easy.

It’s no longer how it used to be, where if you graduated from a college, you could - if nothing else - expect a minor job to come your way, through campus placements if nothing else. Now, you might graduate college having never been placed at all, and in dire need of a job to pay off that pesky student loan you took so you could go to college at all. So, in such a situation, what do you do?

Well, naturally, you take advantage of the numerous online resources that exist to help you take yourself from a know-nothing to a know-something. Coursera, edX, Udemy, SkillShare, etc. are all great examples of edutech institutions that can help you pad out your resume enough that even high-end corporations might raise an eyebrow of interest.

But that’s just you - what about others? What if everyone is doing the same? What if everyone around you, in the same boat, starts working on their skills so that they can be more appealing to companies?

Well. Then the threshold rises, and companies better start taking note - or else they’ll find that their competitors aren’t quite as slow on the uptake, and are perfectly willing to take advantage.

This applies across all industries, really. To succeed in today’s climate, companies have to continuously innovate and evolve to remain at the forefront. Which means, it’s not on the employees to boost their abilities - companies have to push it as well, if they don’t want to fall behind. Employee development has to become a core part of their corporate culture - or else. Integrating it into the company culture means that workers are on top of the industry best practices. It means they’re raring to acquire new skills, which might open up new possibilities. It means the company’s enhanced employee engagement, and might just attract the kinds of talent the best companies drool over.

Let's talk about 5 reasons why skill development of employees is essential:

1. Enhances productivity: This one’s a bit of a no-brainer, but it needs to be mentioned all the same. As employees develop and refine their skills, they get better at their jobs. This leads to enhanced performance, yes, but it also leads to tasks being completed faster and the results being of higher quality. Tl;dr - teach employees well, and they do the job better. Obviously.
2. Adapt to new technologies: It’s a fast paced world today. What worked a year ago - maybe even a month ago - might be considered outdated today. In such a changing climate, focusing on enhancing your employees’ skills is vital, because that’s how they stay up-to-date.
3. Employee Retention: Tell me if you’ve heard this before - an employee joins your company, and the thing you remember him saying the most in his interview is that ‘he’s looking to expand his skillset’ or that ‘he’s looking for new opportunities’. Well, that’s what upskilling is for. The more they find themselves learning new things and challenging themselves, the more satisfied they’ll be with the job. Increased job satisfaction, naturally, enhances employee retention, as contented employees are much less likely to go around looking for new jobs. Similarly, upskilling initiatives can elevate employee engagement, as they know they’ve got the right skills and who is responsible for giving them those skills, leading to a greater commitment to the company and a stronger connection to their roles.
4. Addressing Performance Gaps: Upskilling enables employees to recognize the things that were holding them back, be they beliefs, behaviours or issues with their own knowledge base. By acquiring new skills, individuals can effectively address these gaps.
5. Improved Customer Services:?Well-trained employees can provide higher quality customer service, address customer needs more effectively, and contribute to a better overall customer experience - which, naturally, leads to increased business and growth. Since the customer is king, it behoves a company to keep their monarch satisfied, yes?

Holistic talent development doesn’t just enhance an individual employee, but the team as well. An upskilling strategy hence not only boosts your organisation's competitive advantage (as mentioned in the prior reasons), but also empowers your team to tackle on-the-job challenges effectively, no matter what they are.

Therefore, here’s some advice for a company: take time to get to know your employees. Understand their interests, and integrate them into their daily tasks. Making room for employees to explore their passions can ignite enthusiasm and empower them to embrace risks, fostering greater innovation and creativity within the company. In the end, by giving priority to the upskilling of employees, companies can set themselves up for sustained growth and prosperity in a constantly changing business environment.