Upskilling is not just another nonsense buzzword you hear tossed around. Instead, upskilling is a term now used to describe the process of investing in your employees through teaching them new skills. When employee turnover is at its highest, you want to do everything you can to enhance your company on all levels. When your employees learn to improve their skills, your company reaps the benefits.
Here are the signs you need to upskill your workforce.
1. You Notice Low Employee Morale
Low employee morale occurs when a company has poor management, poor communication, and limited growth opportunities. If you notice your employees are unmotivated and unfocused while doing work, you need to act quickly. Lack of morale is a silent killer that can significantly impact your business. Providing more opportunities for your employees to grow in and outside their roles helps them feel more engaged and fulfilled at work. It gives them reasons to stay longer at your organization.
2. You Have Open Leadership Positions
Unfortunately, no matter how great you make your workplace, people will at some point move on. It is inevitable. When leaders in your company leave, it is a clear sign you need to upskill your workforce. Some companies choose to outsource new leaders. However, that can backfire and cost you considerably in training someone entirely new.
Choosing to upskill your employees is easier and more efficient as they already know many of the ins and outs of the company and the culture. Moreover, your employees will feel much more motivated to achieve the next steps in their career journeys as the new opportunities become available.
3. You’re Losing Talent to the Competition
You likely have employees whose skillsets far exceed the requirements of their roles. They are ready for more. Without a chance to move into positions with more responsibilities, they might take their talents elsewhere. Losing an employee with considerable talent and unique qualities to a competitor is costly and can negatively impact your company. Upskilling your workforce will maintain your competitiveness as a business and help you retain your best talent.
4. Your Employees Have Goals
Upskilling helps ready your employees to take on new and individual objectives they are eager to complete. However, creating the right avenues and processes that allow your employees to do so can be overwhelming. That is where solutions like Career Spark can help. For example, we have an upskilling software that helps display the skills and learning opportunities needed for your company and your employees to reach their goals.
5. Retain & Attain
Employee turnover is extremely high. Many people resign from their jobs every day, citing unhappiness and a lack of career growth opportunities. It is vitally important that you have learning opportunities available for employees. This will improve employee retention. Your employees are happiest when they feel invested in and valued by their company.
As you work on maintaining the employees you already have in your workforce, a byproduct of upskilling is that it will also attract new hires. With a plethora of fresh and seasoned workers, your company has the means to grow onward and upward.