Why companies should consider upskilling and reskilling right now

Roles are changing in today’s workplace, and some have completely transformed. As a result, organizations must now relocate employees in response to changing roles and business needs. Now is a good time to learn about upskilling and reskilling your employees. Understanding the main differences between upskilling and reskilling can provide a clear window into how to manage your organization’s most valuable asset: your workforce. 

Upskilling vs Reskilling

Reskilling and upskilling are both critical tools for closing the skills gap in today’s technological workforce. Upskilling is the process of learning new skills or teaching workers new skills, whereas reskilling is the process of learning new skills to qualify for a different job or teaching employees new skills to help them get a new job within the same company or elsewhere. Reskilling focuses on developing new skill sets in order for individuals to be qualified for new positions, whereas upskilling teaches new skills for the same job.

While a culture of upskilling engages your team members in ongoing education and assists them in progressing along their current career path, provides an opportunity for lateral learning. 

Upskilling and reskilling are important to reduce skill gaps

There are a few of the causes of the skill gap which refers to the difference between what employers are looking for and what employees can offer. First, between learned knowledge and the real needs of future employers there is always a structural mismatch. Moreover, education systems cannot continue with constantly changing innovations in the field of technology. Meanwhile, business owners are looking for individuals with a great deal of experience even when the sector is totally new. So, how can all these problems be solved? The key is by upskilling and reskilling.

What characteristics distinguish a good candidate for upskilling and reskilling?

An employee who needs to gain more knowledge or improve their skills in order to be more effective in their current role will have potential for upskilling. The key point here is that it is within the same discipline.

For reskilling, find a person who is changing disciplines entirely. Organizations can use these individuals and their knowledge to reskill them to perform a completely different role.

Continuous employee training improves the company’s reputation and brand image as an employer. The company will be much more appealing to industry professionals, and it will be much easier to attract new talent.

Being Vietnam’s premier Human Resources consultant, Talentnet employs cutting-edge, high-protection technology, extensive labor legislation expertise and the most relevant HR solutions, making it a great staff member for long-term partnership. To receive more information, please contact us.

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