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Benefits of upskilling workforce in the age of hybrid working

Although we have begun to recover from the repercussions of the Covid-19 pandemic, one thing is sure; the hybrid work model is here to stay. Blending remote and in-office work, the hybrid model has forced many organisations to reconsider their talent strategies, employee experiences, and management styles, along with their technology infrastructure. This has, in turn, shed light on the widening skills gap in today’s workforce.

However, organizations can overcome skill gaps and successfully adapt to the hybrid model by working on the challenges and utilizing the appropriate tools and frameworks.

To ensure that remote employees have access to the same learning and development opportunities as those working in an office, organizations must invest in their employees through upskilling initiatives.

Furthermore, the right learner engagement strategy and approach will help to prepare the workforce for future jobs and aid in establishing a work-life balance.

So let’s delve deeper to understand some benefits of upskilling the workforce.

Reasons to upskill your hybrid workforce are:

INCREASED PRODUCTIVITY

Upskilling an employee equips them with the resources they need to finish work more efficiently. A better comprehension of the work also makes room for innovation and suggestions that might be helpful to the business as a whole.

According to 81 percent of employees and 91 percent of companies, upskilling has significantly increased productivity at work.

BOOSTS EMPLOYEE MORALE

A company cannot achieve success if its staff isn’t engaged. In addition, Gen Y is eager to grow and learn. According to research, 90 percent of Gen Yers intended to leave their employer within five years.

However, if you give them the chance to advance and grow in their career, they are less likely to leave your organisation. Hence, upskilling employees helps them visualise their career path and future with their company, giving them a sense of confidence and a goal. This helps to boost their morale and keep them engaged.

IMPROVES RETENTION

It is known that employees will leave a company if they believe there are no opportunities for growth within the company.

Therefore, if you want to retain your employees for a long time, you must provide training and development programs that promote growth and continual learning. Here, upskilling is crucial in boosting employee retention by fostering a sense of support and value among employees.

In the end, it aids in preserving institutional knowledge and saves companies from incurring costs in hiring and training new employees.

FOSTER A CULTURE OF CONTINUOUS LEARNING

Every employee looks for a purpose in their work, and innovation flourishes when the organisation’s goal aligns with individual career goals.

Furthermore, with the increasing competition, evolving industries, markets, and business processes, employee skills and knowledge continue to be the cornerstone of organisational innovation.

Hence, a good culture of learning through upskilling is essential to maintain a high level of employee satisfaction, promote innovation and ensure a low employee turnover rate.

HELPS THE COMPANY TO SAVE MONEY AND RESOURCES

When an employee leaves an organisation, you must fill that position, which again commences the recruiting and hiring processes.

However, it also means that additional expenses will be incurred, including those for training, advertising, compensation and benefits, and so forth. Upskilling the employees can thus help the company save a lot of money and resources.

CONCLUSION

Investing in long-term upskilling will help minimise the skill gap and ensure your business stays competitive. It also offers a tremendous return on investment because businesses that invest in their employees see higher levels of employee loyalty.

In addition, when given a chance to upskill, employees are more likely to stay around and put their new abilities to use. Eventually, it will help the company gain a competitive edge and enable it to expand.

This Content has originally written by Sonya Hooja and published on August 12, 2022.

No Copyright/IPR breach is intended.

Click Here to read Original.

Photo by Kenny Eliason on Unsplash

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