What Is Reskilling and How Can It Benefit Teams?
Today, things are changing faster than ever before. Technology continues to advance, bringing with it a range of new opportunities – as well as new challenges. The digital economy is transforming jobs, industries, and businesses, often leading to roles that didn’t exist five years ago.
In order for companies to stay competitive and grasp these opportunities, they are increasingly turning to reskilling as a solution. But what exactly is reskilling, and what are the benefits it can bring to teams? Let’s take a closer look.
What Is Reskilling?
Reskilling is the process of gaining new job-specific knowledge, skills and abilities to take on different job roles – it is not synonymous with traditional retraining. It involves professional development initiatives focused on developing its current workforce with additional capabilities and skillsets. It involves employees studying, training, or engaging in any other learning activities on the job.
Think of reskilling as “right-sizing” your team rather than reshaping it. It often includes elements of digital transformation and upskilling – gaining the ability to use newer technology such as artificial intelligence (AI), machine learning (ML) or the Internet of Things (IoT).
In a nutshell, reskilling enables individuals to take on new roles, while also adding value to their current job. It is geared towards the future and the evolutionary business context.
Benefits of Reskilling
Reskilling is becoming increasingly important in today’s ever-evolving digital environment. Here are five of the key benefits it can bring to teams:
- Increased Efficiency
With the right reskilling program in place, teams can stay ahead of the learning curve, understanding and utilizing the latest technologies and solutions as soon as they arrive. This can lead to increased efficiency, enabling teams to make better use of their time, resources and technology.
- Improved Job Satisfaction
Reskilling helps ensure that employees remain motivated and satisfied with their jobs. A recent survey by the Federation of Small Businesses found that job satisfaction among employees who had extended their skillset was higher than those who hadn’t.
- Access to New Job Roles
Reskilling gives employees access to a range of new job roles, greatly expanding the scope and impact of their roles. This helps to bring a greater diversity of skills, perspectives, and approaches to the team.
- A Competitive Edge
By reskilling adequately and at the right time, teams can stay ahead of the competition. It helps them to be better prepared, react quickly to unexpected changes, adapt to different types of customers, and optimize their workflow accordingly.
- Professional Development
Reskilling can open up a wealth of new potential opportunities. Many organisations now offer professional development programs that give employees a chance to take on different roles and gain additional qualifications. This benefits both the employee and the organisation.
Workplace Strategies for Implementing Reskilling
Now that we have a better understanding of what reskilling is and the benefits it can bring to teams, let’s take a look at some strategies businesses can employ to implement reskilling:
- Identify the Skills Required
The first step in any reskilling program is to identify the skills required for the team’s roles. This involves understanding and analyzing the organization’s business objectives and the roles that need to be filled in order to meet those objectives.
- Create a Reskilling Plan
Once the required skills have been identified, the next step is to put together a reskilling plan. This should include the time frames, budget and resources required, as well as a step-by-step guide to delivering the program. It should also include detailed guidance on how to monitor and measure success.
- Invest in Technologies and Resources
Businesses must invest in technologies and resources to support the reskilling of their teams. This can include investing in digital tools, such as AI and ML, or in more traditional tools, such as books and instructional videos.
- Develop Learning Content
Learning content should be developed to ensure that the best possible teaching material is available to employees. This can include instruction videos, podcasts, or written articles.
- Provide Support
Businesses should ensure that teams have access to ongoing support. This includes offering access to experts, providing opportunities for employees to discuss their learning experiences, or providing a forum or online community where employees can communicate with each other and exchange ideas.
- Reward Employees
The reskilling of employees should be rewarded, both financially and non-financially. The rewards should be tailored to the individual and their goals, such as providing flex time, extra vacation days, or cash rewards.
In today’s rapidly changing digital landscape, reskilling is becoming increasingly important for teams to stay competitive. It enables them to stay ahead of the learning curve, gain access to new job roles and obtain a competitive edge. It also helps increase job satisfaction and provide employee with new opportunities for professional development.
By understanding what reskilling is and the benefits it can bring, businesses can put in place strategies to help implement reskilling in their workplace. This can involve making sure the right technologies, resources and content are in place, as well as offering ongoing training and support for employees and rewarding their achievements.
Ultimately, reskilling is essential for teams to stay agile and competitive in an ever-changing digital economy. Businesses must ensure that they take the necessary steps to ensure that their teams are adequately reskilled, in order to ensure their sustainable future.
