Upskilling Employees: Why It Matters for Your Organization


Upskill Employees – Preparing your Workforce

Upskilling is the process of equipping someone with additional know-hows. As we enter into the fourth industrial revolution, there’s no better time to start upskilling our employees than now.

Changing Industry Landscape

The business landscape is radically changing, with innovative companies blazing the trails. Look at Uber, Amazon, and Google. What sets them apart from their competitors is their ability to utilize their data to deliver more value to their customers and also to improve their processes.


Adapting to Change

With the trending digital innovations, honing employees and equipping them with technical skills alongside their domain expertise becomes vital across all industries. Injecting the application of artificial intelligence into your company’s daily operations will provide you with a good competitive advantage in the long-run.

Improves Employee Retention

Employees need to know that the company they are working for also cares about them. By investing in their career development, you allow them to expand their capabilities and to keep them growing. This does not only make them more irreplaceable in the workplace, but also helps in boosting employee morale and satisfaction.

Attracts New Job Candidates

Connected to the previous point about employee satisfaction kept high, if the people inside the organization are happy, their job satisfaction will reflect when they interact with people outside the workplace. They will also personally give positive feedback and recommend their connections to give your firm a try. This not only improves your company’s reputation, but also gives you more candidates to screen to find the perfect fit for your opening.

Better Return on Investment

If you think that upskilling your employees is an added expenditure for your company, you have to think again. Consider the bottom line. The overall picture is that by upskilling, you don’t have to go through the entire recruitment process again. You will save not just on job advertisement costs, but also on interviewing time  and processing time of applicants. Think about the cycle of onboarding a new staff again and all the knowledge lost from laying off a tenured employee.


Boosts Customer Satisfaction

Remember the saying, “if you take care of your employees, they will take care of your customers.” This means that by supporting them in their plans of acquiring a new skill set or even simply giving them the opportunity to do so, you keep your employees happy and invested in your company. In turn, you are indirectly paving the way for a better customer experience.

Learn more Upskilling Strategies for your Employees

Now that we’ve tackled the benefits of upskilling, the next question is how to do so? Learn more about the different upskilling strategies here (Related: 3 Ways to Upskill Your Workforce: Useful Strategies and Guidelines)




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Money Monkeys

Money Monkeys seeks to educate on topics related to finance, entrepreneurship, and the rising fintech innovations. We provide easy to digest articles with the aim of raising financial literacy, cultivating a growth mindset, and harnessing the spirits of fellow entrepreneurs.

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