How companies reskilling employees are positioning themselves for success
If you haven’t considered upskilling and reskilling companies as part of your company’s professional development strategy, now is the time. The 2020 COVID-19 pandemic altered businesses in ways that are still being realized. From drastic changes in consumer engagement to shifts toward hybrid work models, many organizations have had to adapt their strategies to survive.
One of the most significant challenges businesses have faced is how best to support employees during this time of upheaval. Employees struggle to find a work-life balance, suffer from Zoom fatigue, and lack adequate training on new policies and procedures. These challenges have made it difficult for employees to be productive and motivated.
Companies that invest in upskilling and reskilling employees are better positioned to weather the storm. By providing employees with the resources and training they need to succeed, upskilling and reskilling companies experience lower turnover rates and dynamic work cultures.
A quality upskilling program can set up employees to take on the challenges of a new work world by teaching them how to use new technologies and perform new tasks. Let's take a closer look at how upskilling and reskilling programs can help companies succeed in a post-COVID world.
Benefits of upskilling and reskilling employees
Corporate upskilling and reskilling programs provide employees with the opportunity to learn new skills or improve existing ones. When employees are given the chance to learn, they’re better equipped to excel in their roles, prepare for new job functions, and advance to open positions.
Here are three benefits of reskilling and upskilling the workforce.
Increase employee satisfaction and retention
Companies upskilling employees can enjoy the benefits of increased satisfaction and retention. When employees feel like their company invests in them, they’re more likely to stay. One study by Gallup shows that a driving factor of disengagement at work is a lack of growth potential. By upskilling and reskilling, companies show employees that their development is a priority. This can lead to increased job satisfaction and a reduction in turnover.
Create opportunities for job advancement
Companies reskilling employees through strategic reskilling programs can create opportunities for job advancement. Your company can reap the benefits of a highly qualified talent pool to pull from when future openings arise by offering a reskilling or upskilling program. Upskilling and reskilling employees is a smaller investment than hiring and training a new employee, so it’s a well-spent investment.
Whether your teams are back in the office or operating on a hybrid model, upskilling and reskilling employees can encourage collaboration across departments. And studies show that over half of employees report faster, more effective workflows when collaboration is easy. This is especially important for companies that have embraced remote work.
How to upskill employees using an LMS
Using a learning management system (LMS) is one of the most effective ways to upskill employees. An LMS can be used to deliver training content, track employee progress, and assess knowledge retention.
68% of employees surveyed said they prefer to learn at work. More than half of employees think that having a learn-at-your-own-pace model is preferable. It's crucial to offer a mix of learning opportunities—some that are self-directed and others that are more structured.
So, what should you look for in an LMS to ensure your upskilling and reskilling programs are successful?
Personalized learning paths and practice
Every employee learns and applies new information differently, so it's important to offer personalized learning paths. An LMS with this feature connects your employees with accessible, relevant learning experiences while helping managers organize training content in one place.
Social learning is quickly becoming an expected LMS feature. It allows employees to share their knowledge with peers in an informal setting, encourages collaboration, and builds a sense of community. Not only does social learning boost collaboration when upskilling the workforce, but it also ensures that everyone has access to the help they need.
Continuous employee coaching
A quality LMS offers continuous coaching capabilities. Coaching through Spoke®, a modern learning technology platform, allows managers to provide AI-driven feedback and practice opportunities to measure progress over time. Plus, managers and employees can easily collaborate and create a shared accountability plan with a continuous feedback loop.
Unboxed: Upskilling and reskilling companies for a future-ready workforce
If your company is going to adapt to the changing market landscape, you need to invest in an LMS for upskilling and reskilling employees. But not all LMSs are created equal. Make sure you choose one with personalized learning paths, social learning features, and continuous coaching to maximize employee development.
The World Economic Forum (WEF) estimates that nearly half of all employees will be required to engage in reskilling or upskilling by 2025 to remain competitive. As McKinsey advises, “Use your training budget to make skill-building a key strategic lever for adapting to the next normal.” Is your company ready to provide learning and development opportunities for a future-ready workforce?
Your search for upskilling and reskilling companies ends here. At Unboxed Training & Technology, we’ve developed a learning technology platform that makes learning human. Spoke® makes it easy to create and implement quality upskilling and reskilling programs built on the latest learning principles.
Request a demo today to learn how Unboxed can help your company prepare for the future of work.