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Is Upskilling and Reskilling the Key to Navigating the Future Job Market?



PIVOT!!!! PIVOT!!!! A phrase resurfaced during COVID-19 as employers adapted and turned on a dime adjusting to continual and unprecedented change. In today’s employee climate, employers are finding yet ANOTHER way to pivot, this time in response to declining workforce availability statistics.

 

Did you know that for every ONE candidate, they have an all-time high of FIVE jobs they are qualified for? Several reasons have led to employees' vast options as they search for employment. The pandemic accelerated retirements, the popularity of gig jobs growth, and, in general, an aging population that has not been replaced by Baby Boomers who are riding the silver tsunami into retirement. Additionally, with the rapid evolution of technology and the business landscape, employers seek ways to meet changing job requirements. With these changes, employers have sought ways to be resourceful, and one such way is implementing the philosophy of upskilling or reskilling our workforce.

 

So, let’s add these P.I.V.O.T.A.L. tools to your toolbox-Upskilling and Reskilling Employees.


Purpose:

  • Identify the needs of your current workforce and create opportunities for upskilling your employees.

  • Upskilling is a workplace trend that provides training programs and development opportunities to expand an employee's abilities and minimize skill gaps. Upskilling focuses on improving current employees' skill sets so they can advance in their jobs and find different roles and opportunities within the company. 

Input:

  • Take advantage of your current employee skill sets, market trends, and organizational goals by reskilling your existing employees.

  • Reskilling involves training employees in an entirely new set of skills to prepare them to take on a different role within the company. This training typically occurs when workers' previous tasks or responsibilities become irrelevant, often due to technological advances. 

Value:

  • Consider the increased employee retention, improved performance, and enhanced organizational agility.

  • When you build a solid upskilling program, you save on the cost of replacing employees with outmoded job skills and create a conveyor belt of talent from the entry-level position into your company’s management.

  • Consider your company’s succession planning and partner upskilling practices to build your bench strength.

Output:

  • Build a skilled and adaptable workforce, reduced skill gaps, and optimized talent management.

  • Reskilling on a large scale encourages employees to share ideas and work across boundaries to accomplish goals. When investing in employees, consider your company’s morale, retention, and overall performance! 

Tasks:

What can companies do to incorporate upskilling or reskilling practices? Here are a few suggestions?


1. Planning Strategy with Leadership:

  • Foster a learning culture by providing access to diverse learning resources such as online courses and workshops tailored to employees' roles and career aspirations.

  • Curate personalized learning paths for employees based on their existing skills and organizational needs.

  • Forge partnerships with educational institutions or training providers to offer discounted learning opportunities.

2. Instilling Coaching Culture:

  • Establish mentor partnerships within the organization for cross-training and knowledge sharing.

  • Conduct regular training assessments and devise individualized training plans to enhance employee skills.

  • Facilitate team building activities to foster collaborative learning.

3. Engaging External Trainers:

  • Identify and engage corporate trainers specializing in relevant skills required by employees.

  • Explore both on-site and remote training options to accommodate diverse learning preferences.

  • Invest in external trainers to ensure comprehensive skill development, offsetting initial costs with long-term benefits.

4. Implementing Project-based Learning:

  • Design projects aimed at upskilling and reskilling employees while addressing real-time organizational challenges.

  • Assign cross-functional teams to tackle projects, encouraging skill diversification and collaboration.

  • Integrate refresher training sessions periodically to maintain skill relevance and proficiency.

5. Tools:

  • Online Learning Management System (LMS): Explore solutions like OmniaHR's LMS for centralized management of learning resources and tracking employee progress.

  • Training Partnerships: Collaborate with established training providers like Dale Carnegie, Udemy, and Fred Pryer for comprehensive skill development programs.

  • Mentorship Framework: Develop mentorship programs within the organization to facilitate knowledge transfer and skill enhancement.

  • Project Management Platforms: Utilize platforms such as Trello or Asana to coordinate and monitor project-based learning initiatives.


Adoption:

  • Promote active participation through internal communication channels, highlighting the benefits of upskilling and reskilling initiatives.

  • Provide ongoing support and resources to facilitate seamless integration of new learning practices into daily workflows.

  • Encourage feedback loops to continuously refine and optimize upskilling and reskilling programs based on employee input and performance metrics.

Leverage:

  • Monitor and measure the impact of upskilling and reskilling efforts on key performance indicators such as employee satisfaction, retention rates, and organizational agility.

  • Showcase success stories and testimonials to inspire broader adoption and investment in continuous learning initiatives.

  • Iterate and adapt strategies in response to evolving market demands and technological advancements to maintain a competitive edge.


OmniaHR has helped employers design their upskilling and reskilling practices and transition Managers to Coaches. Looking for a great online learning management system? We offer that as well! Consider these options and see if OmniaHR can offer a PIVOTAL solution for your company!

 

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