Benefits of Upskilling

As the technology field continues to advance, the demand for specific skillsets also evolves. However, companies are struggling more and more to find talent with the right skills for their tech teams.

According to a 2019 study by West Monroe Partners 56 percent of HR professionals surveyed said their organizations’ skills gaps are moderate to severe.

Sometimes hiring new talent can be a good way to meet the skill gap, but many times the answer can be found in upskilling your current employees.  Providing additional training and education to enhance current skills is a great way of creating a workforce that is dynamic, diverse, and qualified.

Considering upskilling your employees? Wondering if this is the right decision for your workforce? Here are a few reasons why upskilling may be a great strategic move for your company.

1. Accelerates digital transformation

A digital transformation can bring many benefits to a company.  Implementing a new technology is a great part of this process. However, it is vital that employees understand the technology and are ready to embrace it and use it to its full potential is just as important.

Through upskilling, you can make sure that you have a workforce that is ready to embrace change and is ready to adapt to new circumstances as technologies keep changing.

2. Cost effective

Making sure the team you are building is cost-effective and has the necessary skillsets is always a priority. When talent with the right skills is not available, extended job vacancies are created. According to HR managers, these extended job vacancies cost companies more than $800,000 annually.

Opting to upskill your employees you will save money on recruiting, onboarding, and employee retention.

3. Creates confident employees and strong teams

When your employees are confident in their tech skills, they speak up more when they have ideas and are proactive about finding solutions. Eighty percent of employees say that upskilling training increased their confidence at work.

Self-assured employees make wise decisions and are more prepared to handle new projects. Upskilling can strengthen teamwork, form friendly competition, and create unity with employees all working towards the same goal.

4. Promotes a culture of learning.

Fostering a culture of learning is an important message to cultivate in your workplace. Whether Salesforce is being implemented as the new CRM database or there is a need for employees to know ServiceNow, the gap can be lessened in corporate training.

A successful training program can also foster a well-defined corporate culture, one that has a talent pool that is always striving for self-improvement.

5. Satisfy the demand of professional growth from employees.

An investment in professional development pays off in loyalty, skill, and retention. Employees will feel more content and valued knowing that you are investing in them. Upskilling can lead to a caring corporate culture because it provides growth opportunities. Ultimately, it confirms commitment to your employees and creates loyalty.

If you’re ready to upskill your employees, we’re here to help. Upskilling and training in-house talent in emerging technologies is what we do. Whether you need corporate training for Pega, AWS, Salesforce, or any other technology, we are here to answer your questions and to assist you in developing your team. Shoot us an email at techcert@skillstorm.com.