A well-known proverb that applies to every phase of life is “Change is the only constant.” This proverb is especially applicable to the workforce. Constant technological upgradation means the need for continuous learning of new skills. Workplace training is the most important part of employee development to ensure your workforce stays up to date.

Did you know that the “Future of Jobs Report 2023” by the World Economic Forum (WEF) states that 44% of workers’ skills are expected to be disrupted in the next five years? Additionally, the “2023 Global State of Upskilling and Reskilling Report” highlights that 1.4 billion people will need to reskill in the coming years to keep up with the rapid technical advances being made.

Although upskilling has been a popular concept in recent years, where employees are trained to upgrade within their vertical, reskilling hasn’t picked up pace yet. However, it is equally important, if not more. 

So, what does reskilling mean? Let’s find out.

Table of Contents:

1. Reskilling: The Reason to Prioritise Workplace Training
2. Reskilling Managers: An Investment for the Future
3. The Last Word on Workplace Training

Reskilling: The Reason to Prioritise Workplace Training

Reskilling is the process of learning new skills to be able to perform jobs that are different or more advanced than your current profile. Unlike upskilling, it does not involve updating your current skillset alone. Instead, you focus on acquiring a completely new set of skills.

Although this might sound like you are trying to move away from your domain, that is not the case. In recent years, technology has evolved at a tremendous pace. So much so that skills that may have been essential in 2020 are no longer relevant to the same role. There are roles that no longer exist, and new roles have overtaken or absorbed them.

Now, at this point, organizations can venture out to find workers more in tune with their current requirements. Instead, adaptive leadership will spend their resources on reskilling their employees, and here’s why:

1. Rehiring would involve a massive reduction in the current workforce and the tedious and expensive task of finding the right people again.
2. Reskilling helps a company avoid the time, effort, and financial burden of hiring new people.
3. It also improves the company’s reputation in the market as a reliable organization. 
4. By choosing talent development over layoffs, an organization earns loyalty from its employees.
5. The organization now has a large pool of versatile workers who are always up for a challenge.

Reskilling is a win-win for all.

Also Read: How Flexible Staffing Future-Proofs Your Workforce Planning?

Reskilling Managers: An Investment for the Future

An important part of a successful business is employee retention. A lower turnover means cost efficiency, increased productivity, and knowledge preservation. This helps achieve stability and gives you a competitive edge over others. Good managers are key to employee retention.

Managers are at the core of the functioning of any business. They hold it all together through their organizing skills. With the environment around the globe changing rapidly, there is a need for leadership training to meet the evolving demands of their roles.

1. Future-Proofing

Business landscapes are rapidly evolving. Continuous learning and reskilling keep managers relevant and ensure that they can still be effective. 

2. Technological Adaptation

Reskilling also involves learning new technology. Even for non-technical and management roles, understanding new software, data analytics, and the emerging world of artificial intelligence and machine learning is a must.

3. Innovation

Out-of-the-box thinking is the need of the hour. Reskilled managers can find more innovative solutions to modern problems.

4. Data-Driven Decision Making

Experience might be a handy tool to have, but in a fast-paced world, it is not enough. Accessing data and being able to understand how to make decisions based on it is key.

5. Employee Engagement

Reskilled managers can understand the needs of the newer generation better and create a more engaging environment for employees.

6. Talent Development

Being exposed to new skills also helps one understand new talents. Reskilled managers can better connect the right opportunities to the right employees.

7. Change Management

Someone who is used to constant reskilling and professional development is better equipped to handle changing situations within the team, the organization, or even outside it.

8. Diversity and Inclusion

Reskilling often involves enhancing soft skills through a better understanding of different cultures, related biases, etc. Managerial reskilling can thus help boost inclusivity within an organization.

9. Sustainability

Managerial reskilling can help develop more sustainable workplace practices that help a business in the long run.

10. Agility

Reskilled managers are used to fast-paced environments. They can foster agility within their teams by guiding their subordinates to adapt quickly to changes.

11. Conflict Resolution

Enhanced conflict resolution is a part of managerial reskilling programs. Needless to say, it is an asset to any workplace.

12. Performance Management

A team’s performance is the sum total of its members’ effectiveness. A good manager can ensure that every member of their team is performing at their peak. Reskilling imparts the necessary tools they need for this.

13. Strategic Thinking

Reskilling often involves instilling in managers a better understanding of how to align their team’s efforts with the organization’s strategic goals. This also allows them to anticipate any future requirements and always be on top of a situation.

Also Read: Tech-Forward Training: Integrating Digital Tools in Workforce Learning

The Last Word on Workplace Training

Managerial reskilling is the key to employee retention and meeting evolving business demands. Whether it is rapidly changing technology or the basic structure of the business, holding on to old ideas can no longer help you successfully manage an organization.

Reskilling not only helps you stay in tune with the coming future but also provides you with a pool of versatile workers ready for any challenge. However, to enroll people in leadership training and professional development, you need a skilled partner. And Hurix Digital has the right tools to help you succeed in this job.

Hurix Digital leverages the power of new-age tech to make learning accessible to all. Using the power of AI can help create personalized content for each vertical in your organization. Their tailored programs offer engaging and impactful learning experiences, making workplace training an easy task.

Reach out to Hurix Digital today to start your journey into the future!

Antara Harve

Performance, Results, Growth, and Life-Long Learning define my professional life. I am passionate about making workplace learning planful, purposeful, and impactful. I take pride in partnering with clients and bringing them the best in learning design and creating solutions that address business challenges.