Upskilling and Reskilling Support Employee Retention

Businesses that support upskilling and reskilling can improve employee recruitment and retention, according to Training Magazine. Rapid changes in technology are transforming workplaces across sectors and creating demand for updated skills among managers and entry-level staff. Even in professions untouched by new technologies, learning new skills remains essential for producing quality work.

Definitions of Upskilling and Reskilling

Upskilling consists of training to learn new skills or enhance current skills related to an employee’s role, according to Training Magazine. One example is a bookkeeper who typically uses spreadsheets learning to use software such as QuickBooks. Reskilling consists of learning new skills to change careers, such as a teacher taking accounting classes to become a bookkeeper. Both upskilling and reskilling fall under professional development opportunities, which are compensation perks that do not have a specific monetary value.

Business Support for Professional Development

Businesses committed to internal hiring and career advancement paths benefit from offering these opportunities, as they help attract and retain employees. Professional development courses serve as one method for upskilling and reskilling. Employees who complete dedicated courses may receive a certificate confirming their training. Businesses can seek existing external courses or develop specific in-house training programs.

Delivery Through Courses and Consultants

Third-party training programs, such as educational courses from professional associations, require vetting before recommendation or purchase. In-house programs require learning management and engagement software plus time and resources to create materials. External consultants provide employee coaching, including individual training, department workshops, or company-wide sessions. Executive coaching through consultants helps refine leadership and communication skills for those who dictate business direction. Accessible training materials also support upskilling and reskilling efforts.