As the Great Resignation progresses, it may be time for HR professionals to realign their attention to current employees rather than strictly focusing on hiring new talent. Even after the Great Resignation comes to a halt, retraining and continuing employee education can strengthen the workplace while also helping retain employees.
According to a global study from McKinsey, an eye-opening 87% of organizations say they are currently experiencing skill gaps or are expecting them within a few years. Reskilling and upskilling can be a valuable investment not only for an organization but for employees too. Reskilling can bring transformative updates to employees’ existing talents regardless of their experience. In doing so, reskilling can translate to improved results within their performance.
Let’s examine a few ways reskilling can be an exceptional strategy to move your organization forward and how to keep the momentum rolling.
Understand the importance of reskilling
According to a recent Gartner report, 33% of skills listed in 2017 job descriptions became obsolete just four years later. Furthermore, jobs now require 10% more skills than previous years. Employers want more from new candidates, often now aiming for higher job expectations within job postings.
How can part of this issue be resolved? Reskilling can shorten this gap in your organization.
With many businesses strategizing their post-pandemic recovery, reskilling can help retain existing talent and maintain a consistent skill level as new technologies and industry trends emerge. Equipping employees with new capabilities becomes a winning strategy to assist in internal promotions, adjustments to new tech tools and boost company value.
Center employee input
Whether starting a reskilling program from the ground up or continuing your ongoing employee education initiatives, employee input is an excellent way to understand where knowledge gaps lie and where employees personally wish to gain more knowledge. Allowing staff a voice in designing their development training helps them feel more included with initiative decisions and allows for greater insight into what they genuinely seek to learn professionally.
Gathering this employee input can be as simple as creating open-ended polls. It generates data on employee wants and needs, providing a better understanding of staff perspectives. As employee roles shift and grow through the years, continuing polling will keep development training relevant and up to date.
Keep the reskilling momentum going
How can you know if your reskilling efforts are effectively paying off? Consider using metrics to achieve the best results with furthering continued workplace education initiatives.
By setting and tracking associated goals, measuring success becomes streamlined. By closely monitoring these metrics, it’s easier to ensure you are keeping pace with the demands of your growing organization. Skill tests and assessments can be used to gauge knowledge retention and to assess where skills have waned.
Through these metrics, companies can determine the return on their investment. The underlying costs of hiring new talent can ultimately be surpassed by growing employees’ skillsets.
Eliminating skill gaps is an ongoing process yet is demonstrably impactful to workforce engagement and success. By diving headfirst into reskilling initiatives, a collaborative journey begins with, boosting team results. As a result, prioritizing reskilling can set your organization apart from others who haven’t been as proactive.
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