Archive for November 3, 2023

The Importance of Upskilling for Career Progression and Employee Satisfaction

November 3, 2023

Why Upskilling Opportunities Are Crucial to Career Progression

Upskilling opportunities are crucial to employee satisfaction and career progression. Employees want to feel that their company is invested in their professional growth, and upskilling can be a great way to show this.

Analytical skills, such as data science and research analysis, are in high demand. Upskilling your employees in these areas can make your organization more competitive and improve your job candidates’ employment prospects.

1. Boost employee satisfaction

A big part of employee satisfaction stems from a feeling that they have a clear career path at work. Offering upskilling opportunities lets employees know that their company cares about their professional development and helps them feel like there is always something new to learn.

Additionally, a lot of workers have lost jobs due to the pandemic and the rapid shift toward automation, so reskilling and upskilling offers them the opportunity to pivot into different roles that they may find more rewarding. Upskilling also enables employees to earn new certifications and postsecondary degrees, allowing them to advance their careers and get higher salaries.

Furthermore, happy employees are more likely to be engaged and do a better job. This translates to higher client satisfaction and loyalty, as well. Plus, upskilling keeps employees updated on the latest trends and technologies in their industry, enabling them to deliver valuable insights and recommendations to clients. In addition, it reduces employee turnover and training costs, as companies have a higher return on investment when they offer ongoing training opportunities.

2. Increase productivity

Learning new skills can be a powerful tool for increasing productivity. New skills can help employees perform more complex tasks or develop more robust solutions, and they can also improve employee morale. In addition, when employees can show that their new skills have increased productivity, they may be able to make a case for a raise or increase in pay.

The key is to offer upskilling opportunities that are relevant to your business objectives and current job roles. This differs from reskilling, which is about developing the skills needed to change jobs or careers within your organization. As the World Economic Forum predicts that 85 million jobs will be replaced by technology by 2025, reskilling becomes more important than ever.

Offering upskilling opportunities that are aligned with your future goals is a great way to boost productivity and retain top talent. Learn how to upskill your employees by enrolling them in Penn LPS Online’s 4-course Ivy League Upskill Certificate.

3. Create a more diverse workforce

Building a diverse workforce is one of the biggest challenges facing businesses today. But upskilling employees gives companies the chance to enrich their diversity efforts from within, without displacing existing workers.

For example, professional services leader PricewaterhouseCoopers offers its employees a series of digital upskilling courses that help them advance in their careers and build the tech skills they need to compete in the future economy. These programs create a growth mindset among employees, which in turn bleeds into the company’s broader culture and work ethos.

Upskilling opportunities also make it easier for older employees to develop their careers, avoiding the threat of being left behind as technology changes the workplace. This internal mobility also benefits women, who disproportionately leave their jobs to take care of family members. Initiatives like returnships, in which professionals who’ve taken a break for caregiving responsibilities re-enter the workforce, are another way upskilling supports gender diversity in technology teams.

4. Boost employee retention

Employees want to know that their employer cares about their professional progression. Upskilling helps employees feel like there is a future for them at the company, which can boost morale and increase productivity.

It also saves the company money in recruitment costs, as it can rely on its internal talent pool rather than external candidates. Furthermore, upskilling creates a pipeline of digitally savvy employees that can be utilized in the future as the company grows and changes.

Upskilling is especially beneficial when it aligns with an employee’s career goals. For example, an entry-level employee may want to one day work their way up to a management position. Upskilling can help them achieve this goal by training them in the skills that are required for managerial roles. This is particularly important because the workforce is rapidly evolving and jobs are becoming obsolete. This means that companies are increasingly prioritizing upskilling opportunities for their employees. This is especially true for millennials and Gen Z workers, who are more interested in growth opportunities than other factors, such as salaries.

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