Reskilling: What Leaders Need To Know

You don’t need to worry about reskilling employees, right?

If you are a leader who wants to stay ahead of the curve in today’s rapidly evolving business landscape and you don’t want to spend all your time hiring new talent, then it’s time to start thinking about reskilling. With technology advancing at lightning speed and new industries emerging, staying competitive means investing in your team’s ability to adapt and learn new skills as part of a reskilling program. 

In this blog post, we’ll explore everything leaders need to know about reskilling – from its importance and benefits to practical tips for implementation. We’ll also cover topics like:

• Upskilling to fill skill gaps
• Investing in current employees
• Organization-wide reskilling initiatives 
• Identifying existing skill sets
• Employee retention efforts
• Building a career path with employee training
• Attracting job seekers interested in continuous learning
• Internal mobility
• and more!

Grab a cup of coffee, and let’s dive into the world of reskilling!

What Is Reskilling?

Reskilling is learning new skills or acquiring new knowledge to perform a different job or task. It is often done in response to changes in technology, the economy, or employer needs. Reskilling can occur throughout one’s lifetime and career. Sometimes, reselling will be done by an individual who is looking to move into another field. Often, however, HR leaders and managers will use reskilling as they go through digital transformations, promote continuous learning to job seekers, and bring in new employees who have promise.

In a time when many jobs are being automated or replaced by technology, it is necessary for workers to acquire new skills to remain employed or to fill talent gaps on teams. For example, jobs in manufacturing and agriculture are being increasingly replaced by robots and machines. Some of these workers may not have had the digital skills necessary to move into new roles under the same employers. This has led to a decline in demand for unskilled labor, making it essential for workers to acquire new skills.

The rise of the gig economy has also contributed to the need for reskilling. In the gig economy, workers are hired on a short-term basis to complete specific tasks or projects. This type of work often requires specialized skills that workers may not have. As a result, gig workers must be willing to learn new skills quickly to stay employed. Companies who hire a worker for short-term employment may find that they like that employee so much that the reskilling effort is worth it to train them and keep that talent at the company.

Leaders need to be aware of the changing landscape of work and the importance of reskilling their workforce. They should provide opportunities for employees to learn new skills and keep up with changing technology. Leaders should also create a culture that values lifelong learning and supports employees in their career development.

The Need for Reskilling

You’ve identified a need for reskilling and filling in a skill gap: but how can you do it? It depends on what kind of skill gap you have. Is it soft skills like managing or interpersonal communication? Or is it a hard skill that someone needs for a new role? Being part of the reskilling revolution means knowing what your employees need from you.

There are a few key things leaders can do to support their employees in reskilling:

1. Provide access to resources: There are a wealth of online resources available to help employees learn new skills. Leaders can provide access to these resources or direct employees towards specific ones that will benefit them.
   LinkedIn Learning, Coursera, and even YouTube are places people can go for on-off learning. You may even suggest employees go to community colleges for classes or higher education.
2. Encourage a learning culture: Learning should be seen as an ongoing process, not something that only happens when you’re starting out in your career. Encouraging a learning culture within your organization will show employees that you value their development and growth.
   The best way to do this, especially if you are putting a lot of time and effort into reskilling initiatives, is to invest in learning management software like Trakstar Learn. This will show employees at all levels – whether they are current employees looking to advance or new employees that you’ve just onboarded – that continuous learning is an important part of your organization. Click here to schedule a demo of Trakstar Learn.
3. Support employee development: Along with providing access to resources, leaders should also support employee development by offering opportunities for training and development courses or programs. This shows employees that you’re invested in their success and want them to grow within your organization.

As part of a digital transformation and with the growth of artificial intelligence, many employees are afraid that their jobs will be eliminated. Investing in them can help existing employees feel secure and reduce employee turnover.

The Benefits of Reskilling

The benefits of reskilling are numerous and well-documented. Reskilling can help organizations keep up with changing demands, foster innovation, and creativity, improve employee engagement and motivation, and reduce turnover. It can also help employees develop new skills that can be transferred to other areas of the organization, providing a boost to organizational productivity.

There is strong evidence to suggest that employees who are given the opportunity to reskill are more likely to stay with an organization for longer. This is because reskilling helps employees feel valued and appreciated and gives them a sense of ownership over their own development. Reskilling can also help build a positive employer brand, which can attract top talent to the organization.

Organizations that invest in reskilling their employees are also likely to see a return on investment. Therefore, not only does reskilling benefit employees and the organization as a whole, but it is also a sound investment for leaders to make.

How to Implement a Reskilling Program

When it comes to reskilling your workforce, there are a few key things to keep in mind. First, it’s important to start with a clear understanding of the skills gaps within your organization. Once you have a good grasp on the areas where employees need development, you can begin designing a program that will provide them with the necessary skills.

When creating your reskilling program, be sure to make it engaging and interactive. Employees are more likely to stick with a program if they feel like they’re learning something new and useful. Additionally, consider offering incentives for employees who complete the program. This could be anything from a bonus or pay raise to additional vacation days.

Finally, remember that reskilling is an ongoing process. As the needs of your organization change, so should your program. By regularly reassessing your workforce’s skills and keeping your reskilling program up-to-date, you’ll ensure that your employees always have the tools they need to be successful.

How can leaders encourage reskilling in their organizations?

Organizations need to provide opportunities for employees to learn new skills and update their knowledge so they can stay ahead of the curve. Leaders can encourage reskilling in their organizations by:

-Making it part of the culture: Encourage employees to continuously learn and develop new skills. Let them know that it’s okay to make mistakes as they learn something new.

-Providing opportunities: Make sure there are opportunities for employees to learn new skills. This could include offering courses, cross-training, or mentorship programs.

-Leading by example: Show employees that you’re willing to learn new things and update your own skills. This sets the tone for the organization and shows that continuous learning is important.

What challenges need to be considered when reskilling employees?

When it comes to reskilling employees, there are a few challenges that need to be considered. First and foremost is the cost. Reskilling employees can be a costly endeavor, especially if you are looking to retrain a large number of employees. There is also the challenge of finding the right training program for your employees. With so many options out there, it can be difficult to choose the right one. 

Using learning management software, like Trakstar Learn, can be helpful. Investing in this new technology shows employees that you are serious about your learning initiatives and skills training. It also helps monitor the successes and failures of your programs. Who actually learned a new skill? Is there a skills gap that still exists?

Lastly, you need to consider the time commitment required for reskilling employees. Depending on the skill you are looking to teach them, it could take weeks or even months for them to master it.

How can technology help with reskilling?

Technology can help with reskilling in a number of ways. First, it can provide employees with access to online learning resources that can help them acquire new skills. You can take what they’ve learned in a current role and bring their skills into the future to plan for succession. You can also use reskilling as part of a performance improvement plan.

Additionally, technology can be used to create virtual or simulated environments in which employees can practice new skills before using them on the job. 

Finally, technology can be used to track employee progress and identify areas where additional training may be needed. Use something like Trakstar’s built-in Insights dashboard to see how individual employees, departments, branches, or your entire workforce stack up.

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