You have talented team members hired because they are skilled and are a cultural fit within your organization. With an astounding 10 million open jobs, it's crucial to retain your team's critical skills. Empowering these team members to level up their careers or find an internal job switch that best suits their skillset is both a win for the employee and you, as the employer.
Enter reskilling and upskilling — two strategies to assist in retaining and empowering your talent, especially in the age of The Great Resignation.
Although these two terms sound similar, the difference lies in the intention behind the training;
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Reskilling: learning new skills so the employee can do a new job. Reskilling aims to retain and train employees to move to another position within the company.
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Upskilling: learning new skills for the employee to be better equipped to do their job. Upskilling aims to teach employees new skills to optimize their performance.
Reskilling
Occasionally you will have the right team member sitting on the wrong seat on the bus -- a cultural fit better suited in a different role or department within your organization. The opportunity may allow the team member to leverage their skillset on another team, and as an employer, an internal move holds power. With the average employee turnover cost of $18,000, you'll be able to keep key talent and save your organization monetary means. As an employee, the team member will be able to shine in a new role that better suits their skill set, an advantageous move for both the employee and employer.
Upskilling
All jobs are constantly changing and evolving as technology changes every day. 15 years ago, a Social Media Manager wouldn't have made sense for organizations but today is an essential role. Reskilling helps individuals constantly learn and evolve in their positions.
Whether your team is reading a sales playbook to push leads through the pipeline faster or the development team is working towards a new certificate, reskilling can substantially benefit both individual careers and your organization.
Beyond these scenarios, Reskilling and Upskilling come with numerous benefits, including;
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Bridging the digital divide at the company's heart and making it more competitive.
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More minor applicant selection procedures when hiring and shorter adaption periods when switching roles.
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Create loyal and talent retention. Staff is aware that the company is investing in them and their professional profile.
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Fostering a dynamic business culture adapted to an environment in constant evolution.
To stay competitive in 2022's job market, upskilling and reskilling can be fantastic tools for employers and organizations. Take the first step to empower your team and increase employee retention now.
If you are looking for support either with hiring, onboarding support, or other areas of HR, our team is here to help! Reach out to our experts at Wendy Ellen Inc. to assist with all your organization's HR practices.
