Benefits of Upskilling to Businesses
Change is inevitable; there is no way around it. COVID-19 has proven that our world can change in an instant. Businesses have been forced to adapt to new ways of working and had to learn the importance of training and educating staff so they are more dynamic and agile in the face of change. Although these changes are temporary, the benefits gained from the new skills learnt are not.
Ongoing support, education and career-building exercises help keep your employees productive, agile, motivated and engaged in solving problems and designing innovative solutions – ultimately enhancing your bottom-line results.
A company who prioritises the training and development of their employees’ skill sets will be able to sustain a prominent competitive advantage in this new digital era. Without continuous learning, organisations risk losing internal talent and lagging behind more agile competitors.
There are many costs associated with hiring, onboarding and training replacements. It also takes time for a recruit to familiarise themselves with the company culture and the ins and outs of their team’s workflow.
Your people are your company’s most valuable asset. Upskilling your team comes at a far smaller cost to your business than hiring a replacement. By expanding the skillsets of your current employees, you will find yourself with a more diverse, agile, innovative, well-rounded workforce that can adapt quickly to change.
All this, of course, can help boost your bottom-line results, but it doesn’t stop there. There are many benefits to upskilling your team and today we’re going to talk you through six worth noting:
1. Employee retention
We can all agree working for an organisation that cares little for personal growth and development is not a desirable place to work. Employees want to feel as though their ongoing training is a priority and their company supports and encourages active learning.
Upskilling teams will prevent their skills from becoming redundant, while also proving you care for their future career development. Naturally, this will help to retain your current workforce and reduce costs associated with turnover. All in all, it’s a win-win situation.
2. Boosts workplace morale
This goes hand in hand with employee retention, as teams with various learning and development opportunities will have higher workplace morale overall. Not only will it provide more comfort in their working environment but also encourages employees to feel happier in their roles and have a more positive outlook on their future within the company. Upskilling your workforce paves the way for career advancement and provides a more profound sense of purpose within your organisation.
3. Greater talent acquisition
In situations where your company has proven to be successful, chances are you will need to expand your current workforce. Learning and development opportunities will provide you with access to a broader talent pool when searching for recruits. That is because such opportunities are attractive for job seekers looking to advance their careers and expand existing skill sets.
Additionally, providing opportunities to upskill also helps establish a sharper brand image within the market. By supporting your team’s learning and development, they will serve as strong brand advocates for your company. This is also an attractive feature for highly qualified applicants with extensive skills and experience.
4. Increased customer satisfaction
At the core of your business are your customers. To make your customers happy, you must first prioritise the happiness of your employees. As we mentioned earlier, learning and development opportunities help your team feel motivated and engaged in their roles, which means they can provide better service to your customers.
Moreover, upskilling helps keep your team up to date on relevant industry trends, insights and recommendations which provide value to the customer experience. With a more knowledgeable and well-rounded team, you will find they have a better understanding of who their customers are and how they can tailor your business around them
To know more about upskilling, visit our Courses page