Why You Should Help Your Employees Upskill And Reskill

Learn how upskilling and reskilling employees can boost retention and help your business

Fifty years ago, educational journeys looked very different. Most people went to school, went on to college or vocational schools, perhaps a graduate degree, and then their education stopped.

Today, people are constantly seeking and participating in training opportunities or extra certifications to increase their knowledge and stay competitive in their chosen profession. We’re living longer, so retiring at 65 may not be practical or even desirable for many.

Pew Research projects that over 65% of Americans aged 65+ will be working in 2022.

Between individuals staying in the workplace longer and choosing a nonlinear education path, many are seeking ways to increase their skills or move into secondary careers.

That’s where upskilling and reskilling come in.

Upskilling is when an employer invests time and resources into teaching employees new skills or enhanced skills within their current profession or knowledge set. Often, upskilling is the means to advancement within the company. For example, if someone works in HR but eventually wants to become an HR manager or department supervisor, they would need to upskill.

Reskilling is slightly different from upskilling. This is when someone learns a completely new set of skills outside their current knowledge, usually intending to transition into a completely new industry.

As an employer, it’s more common that you’ll be looking to upskill vs. reskill your employees. Reskilling would be helpful, however, for a larger company with many different departments. Sometimes employees want to go for a career change, but they may desire to stay within their company. If they’re a valued employee, it would be much better for the company (and more efficient) if they stayed.

Turnover can get very expensive for a business. Replacing an employee can cost up to 2x their annual salary. For top performers, the cost goes up. Training employees should be viewed as an investment and not as an expense.

Happy employees are good for business. As an employer, you want to promote a culture and environment that people want to be in. If your reputation as a great employer is known, more top talent prospective employees will want to work for you.

While no place is perfect, you should strive to create and foster an ecosystem of employee satisfaction within your organization. One study showed that happier employees upped productivity by 12%.

Investing in your employees can come in many forms, but training opportunity is one proven way to increase employee loyalty.

There are many different options for helping your employees either upskill or reskill. Often, a certification is necessary. One potential path towards certification is online training. This can come in the form of seminars, classes, or exam prep.

Back to the HR example:

An employee has a few years of experience in HR but has goals to move up in the company. Upskilling this employee could be helping them get a higher level HR certification. One such example would be the HR Certification Institute Senior Professional in Human Resources certification (HRCI SPHR).

Certifications are one of the most trusted ways to show expertise and competency in an area. It also makes prospective employees more competitive, so many seek out certification options as they move through their careers.

As an employer, retaining your employees while ensuring they add value to your organization is crucial. Upskilling and reskilling is win-win for both employers and employees.