To upskill your workforce is the next step to boosting the productivity of your business.

Did you know that 58% of employees need new skills to carry out their jobs efficiently?

A recent study has shown there is a dire need for workers to learn more skills and expand their knowledge. The skill gap is growing with each passing day, making it more and more crucial for employers to upskill their workforce. 

Upskilling the workforce has become a global issue. In fact, “how to upskill workforce” is the most asked question for businesses. The World Economic Forum (WEF) has claimed that it is a better decision economically for businesses to upskill their workforce.

To ensure that your employees are immersed in the future of your work, companies need to become a part of the “upskilling revolution”

According to the WEF, the upskilling of workers can help the economy grow by trillions of dollars. All the companies that become a part of this initiative from the get-go will stay ahead of their competition.  

What Is Upskilling?

Before we look at how to upskill the workforce, we must understand what upskilling is.

Upskilling is when you offer your employees opportunities to learn new skills and increase their knowledge. Through upskilling, your workforce can improve their existing capabilities and provide them with all the resources they need. 

Employee upskilling can enable you to boost your employee and client satisfaction. With the help of upskilling, you can ensure that your team can adapt to the changes that technological advancement brings.

Why You Should Upskill Your Workforce 

Upskilling your workforce has countless benefits for companies, small businesses, and start-ups. It has become essential for all employees to evolve with time and learn new skills to ensure they are not hindering the growth of their company. Some of the benefits of upskilling your workforce include:

  • Increase in employee value and growth 
  • Saving cost and time
  • Enables you to provide a better quality of services

Increase In Employee Value And Growth 

In this time and age, employees understand that there is a need to learn new skills and update their knowledge as time passes. When they are working for a company, it is beneficial for both the company and the employee to be provided with resources that can help improve their performance. 

As you upskill your workforce, you also increase the value they offer for your company. Ensuring that your employees are familiar with the modern skills needed for their jobs, you can also gain their loyalty and increase the rate of employee retention.

As an employer, you should provide your employees with opportunities for growth and learning. 

Saving Cost And Time

Investing in resources to upskill your workforce also enables you to save costs in the long run. The process of hiring new employees for a particular set of skills can cost more than providing your current workers with the tools to help them grow. 

Not only have you already invested money in your current employees, but you have also invested a lot of time, and so have they.

Hiring new people to work for your company also means these new employees will take more time getting used to the environment and getting comfortable enough to give their best performance. 

Enables You To Provide A Better Quality Of Services

Satisfying your client is just as crucial for a business as rewarding your employees. Having the skillset on your team that enables you to provide a higher quality of services to your clients is better for your company. It can help you maintain better relationships with your clients. 

Each day, clients’ demand changes with new technologies and competition entering the markets. You must upskill your workforce to match these demands and provide your clients with what they require. Upskilling your employees can enable you to stay ahead of your competition. 

How To Upskill Workforce?

  • Set goals for your employees 
  • Identify the areas that need upskilling the most 
  • Give employees time to train themselves 
  • Utilize personal training and experts 
  • Use tools 

Set Goals For Your Employees 

One of the most crucial aspects of getting your workers to upskill is setting reasonable goals for them. You need to ensure that they meet all the goals by the end of the period you set for upskilling your team.

One way to measure the success you have in meeting such goals is by setting metrics you can track and analyze at the end of the process. 

By signing up and using tools like Vencru, you can manage your employees and track their progress. You can oversee all the time and resources used for the upskilling process and keep a check on them.

Vencru can help you stay in touch with your employees at all times and know how well they are doing with learning new information.  

Identify The Areas That Need Upskilling The Most 

Upskilling your workforce is equally important for the employees and the company.

To start the process, you need to identify the areas of your company that need team members with upgraded and improved skill sets. When you focus on these high-priority areas, your company will get a higher return on investment (ROI). 

As a company, you have to realize whether your logistics team is aware of all the latest software available and how to use it for the best outcomes.

Similarly, if your company needs to focus on your online presence, you can upskill your workforce to become better at social media marketing and content creation for your website and all online platforms.  

Give Employees Time To Train Themselves 

Encouraging your employees to train themselves and providing them with allocated time during the workday will motivate them to focus on building their skills. If you don’t allow them to train at work, there is a significant chance they will not take out time and work on upskilling. 

Expecting your employees to upskill during their leisure time is ineffective and unfair for them. You can allocate a few hours on any day during the week where all your employees can train and learn together.

You can also assign a whole workday to grow their knowledge and skills. Providing them with all the necessary resources in the workspace can be beneficial.  

Utilize Personal Training And Experts 

If you have a general training strategy, it will not be beneficial for each one of your employees.

You need to incorporate personalized training to cater to what they need to learn and how much information they can retain. Expecting all of your workers to be at the same level of expertise and knowledge is unfair – you need to give everyone attention.  

Training employees based on their past performance and individual goals can be more beneficial for your company and the workers. You can also employ the help of experts in the field for training your employees. These experts can be internal or external. Taking help from experts ensures your employees get the best training possible.  

Use Tools 

There are various tools you can use to manage your upskilling process and improve it. These tools can help you make it easier and more efficient to upskill your workforce. Various online learning tools can provide your employees with short courses and training for the skills they are trying to improve.

Vencru is one of the most crucial tools that make the upskilling process more effective. Just by signing up and following the steps provided, you can use it to keep all team members motivated and track the progress they make.

You can leave motivating messages for them and keep in contact at all times. Use Vencru to manage the training process, and keep track of the time phase.

Final Takeaway 

In the ever-evolving business world, you have to upskill your workforce to keep up with your competition and satisfy your clients.

By upskilling your workforce, you ensure that you are giving importance to your employees’ growth and enable you to retain them for longer.  

Are you a small business looking for the best accounting software for your company? Vencru is the best option for you. It provides you with all the top features and is highly affordable!

Read more on ways to increase the productivity of your business for more ideas.

Stay connected to our blog page for more business ideas, guides, tutorials, product updates, and everything on accounting in growing your business, tracking your profit and loss, and so much more.