How often is the following happening to your company? A front office employee leaves to pursue a new career in sales or marketing when your company is actively hiring for the same position.
Your most reliable worker suddenly jumps ship to another company with a more comprehensive learning and development package.
Your usually award-winning team is stuck in a rut, and innovation is taking a back seat.
If any of these seem familiar, it’s time to re-evaluate your upskilling and reskilling offerings.
What is Upskilling
Why Upskilling and Reskilling Is Important
If your company invests in education, it shows your workers that you care about their career and future. These employees then have a brighter outlook and perform better in their roles. Working toward a goal will make them more involved, engaged, and loyal.
Research also shows that companies rating highly on employee training see 53% less turnover.
According to a recent report, 59 percent of learning and development professionals say their companies are focusing on upskilling and reskilling efforts this year — a 15 percent increase over last year.
Some of this upskilling will be to bring everyone up to date on working practices. For example, teaching employees how to structure their workday after switching from an in-person model to a hybrid-remote model will help improve productivity.
In addition to creating a productive and knowledgeable workforce, providing on-the-job training can benefit your company in other ways, as well.
BETTER BRAND REPUTATION
In turn, happier employees make for happier customers. Since your employees will be better educated about the industry, they will pass on this knowledge to your clients. Clients will then be eager to talk about their excellent experience with your company.
ATTRACTING NEW TALENT
When your existing employees are happy, they’re more apt to recommend your company to their network, bringing more diverse talent to your table.
Research shows that 91 percent of Millennials favor career development over other benefits when choosing a new employer.
Younger workers are looking for opportunities to advance up the same role in incremental promotions (i.e., assistant, manager, senior manager), and having an upskilling plan for this career path can help your employees meet these goals.
The faster this path is set out — during onboarding, for example — the more likely the new hire will be to stay.
Tips and Tools for Upskilling Your Employees
The first step to creating a training program for your company is to evaluate your company’s current talent and the goals you want to work toward, then make an organization plan.
You can choose many methods for training, or offer several different methods to account for different learning styles.
Here are a few ideas:
Alloy is a culture & employer branding agency that evaluates, aligns, and syncs your three critical pillars of business to powerfully impact the bottom line.