Upskilling is more than a buzzword. It’s a golden strategy for brands that are serious about helping their companies and existing employees grow personally and professionally. In fact, companies worldwide spend an average of $1,270 per team member on learning and development, and it’s easy to see why.
From nurturing employee talent to boosting the organization’s value, upskilling contributes to overall productivity and efficiency at the corporate level.
If you’re a training leader looking to upskill your teams this year and beyond, we’ve got the guide for you. In this article, you’ll learn what exactly upskilling is, why it matters, and how to create your own upskilling strategy.
What does upskilling employees mean?
Upskilling means teaching an employee additional skills that they can readily apply in their professional roles. “Hard skills” describe a specific practice, like coding. “Soft skills” describe essential practices like listening or empathy that help people interact more effectively. Critical thinking skills are a prime example of an area that can be developed through upskilling.
In terms of upskilling through training, you might want to help your employees enhance their communication skills so that they can collaborate better with other teams. On the other hand, you might want to help your team members specialize in more refined roles or fields within your company.
In either case, it’s important to remember that employees train and develop at their own pace. That means you may need to set specific expectations for each employee depending on their individual role and existing level of knowledge.
CYPHER is U.S. News’ Top LMS for Personalized Skills Development
Why is employee upskilling important?
Creating an upskilling program is crucial so that your employees can take action toward their personal and professional development. Upskilling also generates higher employee satisfaction, as it enhances their skills and career growth, contributing to lower turnover rates and increased loyalty.
But before we get into how to develop an upskilling program, let’s take a quick look at four of the top benefits of upskilling and why you should upskill your employees.
1. Remain competitive
The competition to find top talent is constantly increasing, and modern job markets can be unpredictable. Incorporating upskilling into the hiring process is crucial for companies looking to remain competitive when attracting and selecting talent.
If you peruse through job postings, you’ll notice that most organizations are looking for employees with innovative and specialized skills. As a company, you can seek to build upon these skills to become an enticing workplace that attracts top performers.
2. Retain more employees
Upskilling plays a key role in preventing high employee turnover and increasing employee retention. Employees want to gain relevant skills and not hit their “job ceiling” too quickly. They prioritize their personal growth and will stay longer with a company that offers upskilling opportunities.
3. Increase your business’ value
Investing in your company's talent can help you position your organization as a skilled, educated entity that not only runs like a well-oiled machine but is also passionate about growing and evolving. In addition to strengthening your workforce, these two pillars can also be instrumental if you’re looking for investors or potential partnerships.
4. Set your employees up for success through continuous learning
Helping your employees nurture their talent development and learn new skills is essential to setting them up to succeed in their current and future roles. In fact, that’s what continuing education is all about.
Whether they stay with you for decades or leave in just a few years, nurturing an employee’s career progression doesn’t just benefit them. Your business and your team culture can reap the rewards, too.
From boosting employee engagement to widening your organization’s expertise, having upskilled employees can help your business grow and move closer toward its long-term goals.
How to create an upskilling program strategy
Now that we’ve shared what upskilling is and why it matters, let’s take a brief look at how to create an upskilling strategy for your learning and development goals.
1. Identify business and employee goals
Start by identifying your business goals. What goals hinge on your employees’ contribution? Practically, this could look like:
- Better marketing performance
- Higher sales and revenue numbers
- Improved customer service experiences
- More concrete results based on hard skills
Once you’ve defined these objectives, host a meeting or send a questionnaire asking your employees to share their own professional development goals. Be sure to also ask how your organization can help them meet their goals.
2. Pinpoint current business and employee strengths and skills
Highlight your business’ and employees’ current strengths and skills. Before you start growing, it’s important to recognize your starting point.
Note any specific ways your business can use its skills and strengths to help employees meet their goals — and then do the opposite. Jot down specific ways your team members can use their talent to help your organization reach its goals.
3. Conduct a skills gap analysis
Host a power hour brainstorming session with your team to go over the goals, strengths, and skills you noted in steps one and two. Then work together to “mind the gap” by looking for opportunities to upskill and highlighting any skills gaps.
Conducting a skills gap analysis is crucial for evaluating the current skills of your workforce against the skills needed for future business needs. In other words, identify which skills and strengths are currently missing from the organization as a whole.
- How does the company need to level up?
- In what areas do your employees need to grow to help your organization meet its goals?
Next, identify which tools you’ll need to help your company and employees evolve. For instance, if you run a marketing agency and one of your goals is to streamline your copywriting processes, then your team may benefit from investing in AI writing tools, like paraphrase generators. Or, if you’re the head of education technology at a language academy and your goal is to shorten IT resolution times, then your school might see value in upgrading to remote support software.
Whatever the case may be, choose tools that have the best chance of helping you and your employees get closer to your goals.
4. Create a plan to make it happen
Finally, choose how you’ll structure and implement your development plans.
Perhaps your employees would learn best from workshops or group coaching sessions. Or maybe a physical or virtual classroom setting would be more appropriate. If you’re fully remote, online training programs might be your best bet.
After you’ve settled on a cohesive learning structure that works for everyone, solidify a team training schedule and choose your facilitators. Then, give your team a heads-up and get ready for the upskilling to begin!
Developing new skills
Upskilling involves more than just filling existing roles—it’s about equipping your team with new skills that can drive your business forward.
By investing in comprehensive training programs, mentorship opportunities, and on-the-job learning experiences, you can help your employees develop new skills that enhance their performance and adapt to evolving business needs.
When employees feel empowered to grow and learn, they are more likely to contribute innovative ideas and solutions, making your organization more agile and competitive.
Encourage continuous learning
Creating a culture of continuous learning is essential for upskilling employees effectively. This means fostering an environment where learning and development are highly valued and actively encouraged. Provide ample opportunities for training and development, whether through workshops, online courses, or seminars.
Encourage employee feedback to understand their learning needs and preferences better. By promoting continuous learning, you ensure that your team remains equipped with the latest skills and knowledge that can help your company stay ahead of the competition. A strong company culture that prioritizes learning not only enhances employee engagement but also drives overall business success.
Leveraging technology and resources
Leveraging technology and resources is crucial for effective upskilling. Utilize online training platforms, mobile learning apps, and other digital tools to provide your employees with easy access to learning resources.
The AI-powered learning platform from CYPHER Learning makes it easy and fast to create and deliver premium course content, while preserving time and resources.
Modern LMS platforms offer flexible and personalized learning experiences that can be tailored to individual needs. Additionally, consider partnering with industry experts and training providers to offer specialized training and development opportunities. By tapping into these external tools, you can provide your team with the specific skills they need to excel in their roles and contribute to your organization’s growth.
How to measure upskilling success
To ensure your upskilling program is achieving its intended goals, it’s essential to measure its success. Start by setting clear metrics that align with your program’s objectives. Track key indicators such as employee engagement, retention, and productivity over time.
Regularly review these metrics to assess the impact of your upskilling initiatives and make necessary adjustments. By measuring success, you can demonstrate the value of your upskilling program and ensure it continues to meet the evolving needs of your business and employees.
Establish clear and relevant metrics
Setting clear metrics is vital for evaluating the effectiveness of your upskilling program. Identify key performance indicators (KPIs) that reflect your program’s goals and objectives. For instance, you can track the following metrics:
- Employee engagement and satisfaction
- Employee retention and turnover rates
- Employee productivity and performance
- Skills gaps and training needs
- Return on investment (ROI) and cost savings
Regularly reviewing and analyzing these KPIs will help you identify areas for improvement and ensure that your training initiatives are aligned with both employee and organizational goals. This approach not only enhances employee satisfaction and retention but also drives overall business success.
Upskilling employees now and in the future
Upskilling is a must if you’re interested in staying competitive, keeping top talent, increasing your company’s value, and setting your employees up for success.
Addressing skill gaps is essential for future growth and sustainability, as it ensures that your workforce is equipped to meet new demands and adapt to industry changes.
Boost your company’s growth and your employees’ skills with CYPHER today! Schedule a personalized demo now.
