Why Upskilling Employees is Vital
(and How Noon Dalton Supports its Employees)
Professional skills used to have a half-life of around 10 to 15 years. Learned skills like critical thinking, cooperation, and communication skills have half-lives of five years or less nowadays, while technical skills have even shorter half-lives. Because of this, skills must be updated on a regular basis.
But when businesses are fighting to stay afloat, it doesn’t seem like the time is right for employee upskilling and reskilling, does it? It’s actually the perfect time. Common, and outdated thinking says that employees should be utilizing the skills they have, and not worrying about increasing their skill sets during tough times.
COVID-19 highlighted perfectly the importance of upskilling and reskilling employees.
During the lockdowns, supply chains and business models were disrupted, causing hundreds of thousands of employees to be laid off, moved to unfamiliar roles, or forced to take unpaid vacation time.
According to a poll of 200 firms, 77% of businesses reported a drop in revenues during the pandemic. 29% of those businesses reported losses substantial enough to close the business, either immediately, or in the near future. Restaurants, tourism, and retail were among the most affected industries, but the effects were felt almost everywhere.
Although smaller businesses have been struck the hardest, many of the world’s largest corporations didn’t fare much better. According to Business Insider, American Airlines laid off 19,000 people, MGM Resorts laid off 18,000 people, Coca-Cola laid off 4,000 people in North America, and J.C. Penney furloughed thousands of workers and declared bankruptcy.
Over the course of a few months, unemployment rates soared, while job security declined. However, the solution to retaining people and keeping businesses afloat may be much more simple than we think. And the solution is upskilling.
Why Upskilling Employees is so Important
Unfortunately, there are many sectors that can’t afford to employ a new workforce, or even keep their present talent. Is it thus a good idea to educate existing staff so they can fill in the gaps?
Apart from this, the nature of jobs is changing. Digital innovation and shifts in the economic landscape are affecting businesses and employees in almost every industry. With the rise of automation, technical skills are becoming a necessity, even for non-IT-related positions. Staff usually need to be proficient in a wide array of technological tools just to be able to do their job.
And according to a survey of Gen Z in the workforce by Robert Half and Enactus, over 91% of those surveyed cited professional training and development as a major factor when choosing an employer.
Upskilling benefits everyone – not just the employee. The company benefits from more effective and well-rounded teams, and customers benefit from knowledgeable, proactive staff.
No one wants to work for or with a company that does not invest sufficiently in its employees’ professional growth. Upskilling and reskilling provide a guarantee that your employees’ skill sets do not become obsolete. As a bonus, your staff sees that you are genuinely interested in their careers and prospects.
Employees who have access to development and training opportunities are happier in their jobs and have a more optimistic outlook on their future prospects with the company. Reskilling and upskilling employees allow them to see the path to professional progression ahead of them and makes them enthusiastic about what may come next. Knowing they’re contributing to something that will improve their lives gives them a stronger sense of purpose.
Increases customer satisfaction.
Customers are happier when staff are happy. Employees perform better when they are satisfied with their employer and believe in the goals they strive towards. Furthermore, upskilling keeps your employees current on industry trends, allowing them to provide the best suggestions and insights to customers and prospects. Clients are prepared to spend extra to work with a team that is more informed and proactive. When clients are satisfied with the job you perform for them, they become greater brand ambassadors for you.
Attracts new talent.
According to SHRM’s skills gap data, 83 percent of HR professionals are having trouble recruiting, and 75 percent believe there is a scarcity of skills among candidates for job positions. Of course, if your business is successful, you will most likely require fresh talent to supplement your seasoned, upskilled team. Employees become greater brand advocates when they have a feeling of purpose with their company and their clients are satisfied with their job. That implies they are more likely to refer your company to their network of friends, former coworkers, and family members. When it comes time to grow your staff, you suddenly have a large pool of different talent to select from.
Employee upskilling also helps to prepare staff for positions with greater responsibility, providing them with the training they would need to excel in those positions. Training programs also allow HR to more accurately monitor performance and establish the right kind of expectations – for both the employer and employee.
How Noon Dalton is Supporting its Employees
This is why Noon Dalton dedicates time, effort, and resources to training, educating, and developing our teams. At Noon Dalton University, we provide continuous development in all aspects, from work-related learning to self-development and even fitness goals. Continuous development forms even make up a part of every team’s KPIs.
And, not only do we offer employee upskilling for our remote teams, but our senior staff members make use of it too. From managers to C-level executives and partners, we all believe that continuous improvement is vital.
At Noon Dalton University, employees receive a personalized, comprehensive learning plan which benefits them not only in their jobs but in their futures as well.
Though everyone is probably sick of hearing it, we are truly living in uncertain and trying times. Now is the time to invest in the future of our employees, to not only ensure their future job security but also to ensure that business remains fully operational and effective.
Employee upskilling and reskilling helps employees to feel more secure in their positions, as well as with their future in the company, and this will enable companies to adapt and thrive despite the ongoing economic changes.
Noon Dalton is your dedicated resource to provide remote teams. Contact us today for more information.
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