Why is it essential for companies to facilitate upskilling their employees? Well, let’s start with some vital stats.
- 75M jobs were displaced by the end of 2022.
- 1333M ‘NEW’ digital roles are predicted to emerge in the next few years.
- 54% of the global workforce feels that they need to upskill or reskill to advance in their careers or even stay relevant to their current roles.
The above information alone will give us a good idea of why upskilling becomes necessary and not a nicety in today’s rapidly changing work atmosphere. As technologies keep evolving, professionals must stay alert to shifts in their particular field and stay ready to adapt to any and all necessary changes in their job roles.
These changes can be due to several things, including adopting new tools or software packages, automation, a general shift in how things are done, and more.
At the same time, employees must also look to add to their already existing skill set through upskilling or reskilling to take up new responsibilities within the organization, often the effects of a lateral move, promotion, and so on.
ThriveDX has many boot camps, including cybersecurity training to help close the skills gap and enable employees to upskill.
Importance of Companies Helping Employees Upskill with Advanced Training
A company stands to benefit in multiple ways by facilitating advanced upskilling opportunities for its employees.
Upskilling and reskilling help employees improve their soft and hard skills, increase efficiency and productivity within the organization, provide a morale boost and job satisfaction, and enable the employees to be more flexible and adaptable and take on new responsibilities whenever the need arises.
Despite this, many organizations are reluctant to offer advanced training opportunities to their employees. Companies fail to understand the importance of advanced training programs and the benefits they reap through investing in them. ThriveDX is trying to change this for businesses.
Whatever it may be, failing to upskill one’s employees will always hurt companies and hurt them big time. As one HR expert from the industry puts it, companies that neglect learning cultures suffer from high talent turnover, experience difficulty retaining their customers, and eventually fall behind their rivals.
Let’s look at how companies can help their cause by providing upskilling opportunities to their workforce.
1. Employee Retention
No company can only afford to lose good people in today’s tight and highly competitive labor market. A high talent turnover can affect a business in multiple ways.
Recruits come with several associated costs, including costs of advertisement, training, workplace integration, and higher salaries and benefits.
Loss of Expertise and Experience
When senior employees leave an organization, they also take away their wealth of experience and expertise gained through decades of working.
The result: your competitors will benefit from the job-hopping while you will be tasked with filling the position.
However, you can quickly and drastically reduce the turnover rate by investing in continuing team member education.
2. Healthy and Productive Work Atmosphere
Investing in upskilling your employees not only increases the latter’s overall value to the organization but also boosts team member morale and fosters a positive and productive work atmosphere.
The employees feel that the company values their contribution and that they have opportunities to grow and advance their careers without needing to look for other opportunities.
In short, once you create a culture of learning and a supportive learning environment within the organization, it leads to low staff turnover and high job satisfaction on the part of the employees. It helps you have a distinct competitive edge in the industry you are operating in.
3. Identify & Close Skill Gaps
Upskilling and reskilling can address your employees’ soft skills (leadership and teamwork, problem-solving and critical thinking, ability to innovate) and hard skills (primarily new and emerging digital skills such as cybersecurity, data analysis, etc.).
But why should companies invest on their own for upskilling their employees?
This is because once you take measures to fill the skill gaps within the organization, this results in a low turnover. And in most cases, it is cheaper to train your existing employees than go out and hire new ones.
4. Attract New Talent
This holds especially true when companies are looking to hire high-profile fresh candidates. Today, many different sectors need more talent pools when hiring people for various top roles within the organization.
In such a scenario, companies that enjoy the reputation of having a good culture of learning have a clear edge over their competitors. Millennials today have a pronounced personal growth mindset and want to progress fast in their careers.
By having to upskill training opportunities, you are already communicating the message to the candidates that they can quickly fulfill their growth ambitions by working with you.
How to Upskill Your Employees
[Alt text: A picture of a team of workers in a conference room watching a leader present something on a computer, upskilling employees like ThriveDX does with boot camps.]
A company can provide upskilling opportunities to its employees through various means. Depending on its requirements and the job profiles of the employees to be upskilled, reskilling and upskilling can be achieved through attending special seminars and workshops, arranging learning sessions with experienced business coaches, encouraging employees to subscribe to relevant online learning programs, and more.
However, when it comes to filling up skills gaps in the technology-related area, arguably nothing can be as fruitful as making your current employees join online/offline digital or coding boot from ThriveDX that offers camps that cover areas like Cybersecurity Training, Data Science & Analytics, Digital Marketing, Software Development, and more.
These boot camps typically run for a few months, meaning that by attending them, your employees can upgrade their technical skills or fill their tech skills gap and thereby add more value to your company in a relatively short period.
ThriveDX Boot Camps
ThriveDX, developed and spearheaded by world-renown veteran IDF (Israeli Defense Force) digital technology and cybersecurity experts, offer unique training methods in their coding boot camps.
The latter prepares the attendees so they can successfully address the needs of the organizations and answer to their specific skill requirements in the tech industry and elsewhere.
Thanks to ThriveDX’s perfect synergy between learners, educators, and employers, their programs do a perfect job of reskilling future leaders and upskilling talent pools in digital skills and cybersecurity.
ThriveDX’s cybersecurity and coding boot camp school also takes care to individually assess their grads, a process that helps it to find the best placement matches for these individuals in line with the present, and often urgent, requirements of many different organizations.