It is estimated that 54% of employees require upskilling. This has become increasingly obvious as the coronavirus pandemic has distorted “business as usual.” The way we work now is hardly recognisable.
This, together with disappearing careers, reflects the widespread need for employees’ upskilling. But what are the specific benefits of upskilling your skills or those of your employees? Why upskill in the first place? How do companies like Academy Xi help put you or your employees on the forefront of change?
Read on as we share the primary advantages of updating and developing your skillset.
1. Open Doors to Career Change
If you’re considering a shift in your career path, upskilling is a great stepping stone. By widening your knowledge in a new area, you become empowered to move your career in the direction you want.
Taking a course that brings you up to speed with the latest industry trends can help you stand out during the job application process. Upskilling is a clear demonstration of your progress and ability to move up the job ladder. For many individuals, it helps to secure a pay increase and other benefits.
The advantages of upskilling have become more apparent than ever in the last year. With no outside distractions, many of us have had an opportunity to examine our working life. Are we happy with our current role? Is there something else we would rather be doing during the 9-to-5 grind?
If this sounds familiar, upskilling can help you bridge the gap between your current skill set and your dream role.
2. Increase Your Chances of Promotion
We’ve now seen how upskilling improves your ability to shift your career path. But, it also offers prospects within your current company. Asking for opportunities to develop your skills shows an admirable initiative.
Many businesses have space in their budget for individuals to develop their capabilities. More often than not, these funds are simply waiting to be utilised.
Additionally, find courses that also provide digital badges as they are a great way to stand-out and showcase what you’ve learned to your current and future employers. After all, the abilities and knowledge you gain are shared with the business too, as you can apply what you learn to your current position. This makes upskilling a win-win for the employer and employee.
What’s more, if you want to reach the next level, upskilling is a great way of showing that you’re ready for a challenge. Why not ask your line manager what is standing in the way of you and a promotion?
Upskilling can address any skills you lack, often in the form of short online courses.
3. Become more efficient
A huge bonus of upskilling the workforce is that it makes employees more efficient. This increased productivity helps businesses to achieve their OKRs. In many cases, it also has a direct impact on revenue generated.
In fact, 74% of businesses agree that reskilling their workforce is important for their success in the coming year to 18 months.
There are several ways that both upskilling and reskilling increase workplace efficiency. Courses might teach participants how to use time-saving programs and automation. They might also help develop soft skills. These include time management, creative thinking, and leadership skills.
It’s also possible to increase personal skills without taking an external course. Participating in a mentorship program can also develop efficiency and other soft skills. It is an excellent way of sharing skills within a business and gaining advice and experience from someone more senior.
4. Boost Job Security
A great reason for getting involved with upskilling is that it increases job security. With the financial implications of the pandemic, the desire for secure employment has skyrocketed.
KPMG commissioned a survey investigating changes in the workplace since the pandemic. It states that upskilling innovations have improved collaboration for 70% of their respondents.
Not only are companies more likely to keep you on after having invested in your professional development, but also your value to them increases. Thanks to upskilling training, you become a higher-skilled employee who has relevant training.
That means you’re up to date with the latest developments in the industry and are thus a strong asset for the team. This is especially relevant for the Australian economy, where a survey found a significant talent shortage.
It’s time to move beyond the mindset that upskilling or reskilling is only for students or recent graduates.
5. Feel More Confident
There are also plenty of upskilling and reskilling examples of increased confidence in the workplace. Upskilling courses and projects can help combat feelings of professional insecurity. By filling the gaps in your skillset, you can feel competent in your role, and even worthy of a promotion.
As a consequence of engaging in upskilling, many people feel better equipped to take on new challenges and ask for demanding projects.
What’s more, upskilling opens new doors to find mentors that can help you navigate your career. Academy Xi’s mentors-in-residence can help you identify your professional goals and five-year plan for your career. This renewed focus will break up what can sometimes feel like the monotony of 9-to-5 work.
6. Stay Relevant In Your Industry
Last, a great reason for becoming involved with upskilling this year is that it brings you to the fore of industry developments. This is especially true for the fast-paced world of digital marketers, UX and UI designers, and developers. Look out for courses that offer real client projects to help you build a unique portfolio of work that is industry relevant.
PwC has issued a report estimating that as many as one in three jobs will either disappear or be severely disrupted within the next decade. Employees can remain indispensable to their employers thanks to upskilling courses.
If you’re a business manager wondering how to upskill employees, there are plenty of opportunities. Academy Xi also offers a range of off-the-shelf and bespoke team training opportunities in in-demand fields like Digital, Customer Centricity and Human Centred Design, and more.
How Will You Take Advantage of Upskilling?
Now that we’ve shared how upskilling can have an exciting impact on your prospects, it’s time to think about your next steps. Why not speak to your line manager or head of HR about important areas of your development?
If you or your company are serious about upskilling, find out more about Academy Xi’s short courses in Design, Tech & Data, and Business & Marketing.