Business leaders understand that staff turnover can be expensive and time-consuming. When companies invest in employees, they’re investing more than just money but also in recruitment, onboarding, and development. That’s why when an employee leaves, the company loses not just the person itself but also their investment and the valuable skills the employee possesses to drive the organization towards success.
In Singapore, students are well aware of the importance of global competitiveness to get hired in their chosen companies. To expand their skill set, they enroll in SGUnited Skills (SGUS) programs. These programs are designed to provide students with practical skills to improve their employability and the opportunity to learn from seasoned professionals.
In a competitive job market, skills are a critical commodity for organizations. With technology advancing so rapidly, companies should use it to their advantage to create powerful business opportunities. But along the way, technology can also cause skills gaps, which can hinder companies towards progress.
To retain the current workforce, employers should find ways on how to address the growing skills gap. This is where upskilling comes in, or the company’s ability to train and develop its employees to boost their competitive advantage in an increasingly technology-driven corporate landscape. In this article, we’ll talk about the role of upskilling in driving employee development. We’ll cite reasons why upskilling can make a great investment in producing a globally competitive workforce.
Higher productivity levels
It shouldn’t come as a surprise that upskilling initiatives boost a company’s productivity. This means the more skilled your employees are, the lesser resources and time spent on executing complex tasks.
Upskilling also increases employees’ level of efficiency resulting in improved performance and significant turnaround. This allows them to brainstorm new strategies and business ideas, which paves the way for a more creative and innovative workforce.
Supports a culture of learning
Employers who actively support employee training and development are more likely to establish a culture of learning in the workplace. For instance, employees have a stronger initiative to upskill themselves because they inspire them to do so.
Compared to yearly training sessions, promoting continual learning prevents overloading employees with information they are less likely to use. Creating a learning culture helps the company be prepared and responsive to the unexpected changes in today’s business landscape.
Enhances workplace morale
A workforce with plenty of development and learning opportunities is more likely to experience higher workplace morale. Employees want companies to look after their well-being and establish a great future for them.
Nothing feels better if your company values you by providing upskilling opportunities. It shows the employer cares about its employees and is willing to invest time, money, and effort in building their skill sets. It also demonstrates that you’re confident about their capabilities and handling more complex tasks.
If they receive continuous training, employees feel more equipped and competent to handle various roles. They’re also more productive and prepared to take on new challenges. Despite the tough work, employees with high work morale are more likely to feel motivated and happy with their jobs while having a better sense of purpose.
Improves work adaptability
In times of constant change, no skill trumps adaptability. By upskilling the workforce regularly, you’re not only building employees’ skillsets, but you’re also encouraging them to be more attuned to change.
Adaptability is a critical skill feature in an ever-competitive market, where technological advancements have caused industries to innovate constantly. Sadly, most employers overlook adaptability and other soft skills when hiring candidates. In reality, companies should consider soft skills as essential in the business to maintain a successful and functioning workplace.
As an employer, you should work harder to promote essential soft skills and include them in company-wide training initiatives. If done well, you’ll be able to address the strengths and weaknesses of your employees and apply the right solutions to address the skills gaps, both technical and soft skills.
A workplace with high morale is a type of working environment that brings comfort and encouragement to employees. They feel happier and more empowered in their jobs and develop a better perspective in their future with the company. In this case, upskilling the workforce opens opportunities for professional advancement and offers a distinct purpose within the organization.
Your efforts to upskill or reskill your team are one of the biggest and worthwhile investments you’ll ever make. If you’re looking for a real impact in the workplace, enhancing employees’ skill set can offer wide-ranging benefits in terms of improving retention, productivity, morale, and work satisfaction. Start upskilling now and witness a more engaged and productive workforce.