Upskilling and reskilling courses should be looked forward to, by professionals, in 2022

Up-skilling and reskilling courses should be looked forward to, by professionals, in 2022

The proportion of the workforce seeking upskilling has significantly increased as of 2022. It is necessary to reconsider professional growth from a new angle as the globe struggles with new office dynamics, a hybrid style of working, and a long-lasting effect on how we operate.

There are many distinctions in the Indian workforce, but one of the most obvious ones is a more vital willingness to keep learning and contribute new skills to our jobs. The modern Indian professional has realized that in order to adapt to the constantly shifting demands of the workplace due to the unrelenting nature of change.

Understanding upskilling and reskilling

Training that enables employees to perform better in their present positions is known as employee upskilling. Additionally, it makes the organization more adaptive and competitive as the industry develops. Furthermore, the development of new skills that complement and improve existing ones is required by developing technology and business models.

Reskilling, on the other hand, is the process of educating people on how to perform jobs that have nothing to do with their current line of work. This denotes that the worker will receive training for a new role inside the company. During the pandemic, several companies started reskilling initiatives to continue running their businesses with fewer employees and supply chain interruptions.

Reskilling and upskilling are essential.

Particularly during the epidemic, major firms adopted new trends needing regular upgrades, which prompted employees to upskill and reskill in order to stand out. Reskilling and upskilling have become more important in the workplace, and many companies have taken action to address the need for ongoing employee training. In a survey conducted in 2022, 75% of employees worldwide said they were delighted with the reskilling and upskilling training provided by their employer.

Even those with a lot of work experience have shown a desire to learn more about data science and cutting-edge technologies. Regardless of their chosen career path, many participants expressed interest in machine learning, analytics, and AI. According to Statista, 2.3 million jobs will be created by artificial intelligence (AI) globally in 2022, whereas 1.8 million jobs will be lost over the same period.

In addition to professional skill upgrades, attitudes are shifting.

Learning had previously been thought to be only accessible through physical courses, but the epidemic has caused a fundamental change in this perception. Through online channels, professionals and executives may now access the most significant education from the top institutions in the world and highly regarded instructors. Thanks to online learning, which has levelled the playing field and provided individuals who would not have been able to attend with previously unheard-of chances. Accessibility has changed recently, enabling these skilled professionals to enrol in upskilling and reskilling courses at their convenience.

Developing skills through online learning

As the employable population has become more skilled, the gap in the job market has expanded, increasing the level of competitiveness. Many professionals have been led by this to search for courses that would enable them to stand out in a sea of resumes. Several specialists who opted for AI and the cloud predicted a possible 50% boost in their pay. These online courses have been used by a large number of recruiters to upskill personnel. Due to this, students may now explore chances for professions and education that know no geographic boundaries. As evidence, individuals from throughout the nation are already applying for jobs in Tier 1 cities or even starting their own businesses.

Assisting in advancement

Despite the fact that many people use private platforms to diversify their skill set, the government of India has also been focusing on upskilling projects. 2020 will see the debut of the Future Skills PRIME Beta Platform by the National Association of Software and Services Companies (NASSCOM), which will provide remote and self-paced learning. This curriculum contained lessons on artificial intelligence (AI), the Internet of Things (IoT), robotic process automation, cloud computing, additive manufacturing/3D printing, blockchain, and other subjects similar to those studied by contemporary professionals and the future workforce.

The programs were created in reaction to the industry’s expected expansion. Retraining and upskilling are now essential for a professional’s career development. Companies wishing to further the careers of their staff members might look at the specialized training programs that several EdTech players provide. Many open programs from the best institutions in the world are now offered in a LIVE online format, giving people a wide range of options for professional development, upskilling, and reskilling. This enables individuals to improve their abilities without interfering with their careers.

What is Upskilling?

Upskilling is the process of teaching a worker or individual a new skill. Individuals must continuously acquire and unlearn new talents in order to keep up with changing fashions.

Reasons to Upskill

Particular technologies are fundamentally altering the nature of some occupations, and new developments in current technology need that professionals to be informed of all the changes. In order to put it into perspective, the World Economic Forum predicts that 65 per cent of students starting primary school now will work in occupations that do not yet exist.

Every working professional is now aware of the necessity of ongoing learning in order to ensure their future jobs and remain relevant in the workforce. But it’s also crucial what they decide to study. Nobody wants to be confined to a pager in an age when cell phones are ubiquitous. In order to avoid wasting time working in fields that can soon become outdated, first-year students and early-career professionals must have the necessary abilities.

Over 10,000 students have graduated from Great Learning and gone on to meaningful jobs in fields that we are confident will shape the future. After conducting a thorough analysis of future career opportunities and long-term development prospects, we have mainly decided to build programs in these fields.

Upskill Courses in 2022

• Artificial Intelligence and Machine Learning

By 2022, AI is expected to displace 75 million jobs, according to the World Economic Forum. However, within the same period, 133 million jobs will be created. There would be an additional 58 million jobs accessible for people with the necessary qualifications.

In addition to the employment opportunities, India is experiencing a severe scarcity of AI specialists. With 76 per cent of businesses reporting difficulty deploying AI owing to a lack of skilled staff, AI is an obvious choice for anybody looking to work with cutting-edge technology.

• Business Analytics and Data Science

No firm can afford to ignore analytics in the current market since data-driven decision-making is necessary for businesses to enhance their results. In addition to the rising use by analytics-driven industries like banking, logistics, internet corporations, and so on, data analytics are now pervasive since they are being used in fields like law, defence, and human resources.

• Cloud Computing

Cloud computing is the foundation for data distribution and management since it gives businesses a lot of flexibility and efficiency. The ability to remotely deploy hardware capabilities is key to the future of cloud computing, which has developed over the past ten years to make data available to everyone.

CDs, DVDs, Hard Drives, and USB flash drives have already lost ground to cloud computing as the preferred method of storing, and they’re only getting started. This is encouraging news for anyone wishing to advance their careers by entering the cloud computing industry since India is expected to have over 1 million cloud jobs available by 2022, according to IDC.

• Cybersecurity

The need to keep all data and services safe and secure is increasing as more systems migrate online. Modern security systems are in place for crucial activities like banking and the military, and the same level of protection is spreading to other industries.

Every organization that stores data is working hard to strengthen its security protocols in light of recent privacy concerns. This creates a chance for professionals to advance their cybersecurity skills and start their careers. 2.14 million cyber security specialists are needed alone in the Asia-Pacific area.

• Full Stack Development

Because they can examine a system comprehensively and handle any issues that could develop, Full Stack Developers, are in high demand as more businesses try to improve their software skills. They are qualified to take part in the entire process of creating and managing apps since they are familiar with both the front-end and the back-end. According to reports, employment is expected to increase by 20%, making this a desirable career profile in India.

• Digital Marketing

The digital marketing industry has proliferated over the past ten years as a result of practically all businesses investing more money in online digital advertising. Because every business must maintain a digital presence, there is a greater need for experts in digital marketing. A wide range of talents, including email marketing, social media management, content marketing, and SEO/SEM, have plenty of room for growth in the field of digital marketing.

Why is upskilling essential for the workplace of the future?

Upskilling has been more applicable during the past few years. There are several causes for this, but the most significant is the widening (digital) skills gap that many businesses are experiencing; this is the discrepancy between what employers desire or need from their employees and what those people are really capable of. There is now a skills gap, and the primary causes are:

• The ageing workforce is owing to a skills mismatch. Older employees’ retirement leaves a gap in the force that is difficult to replace and that results in the loss of knowledge and skills.
• A skills deficit brought on by digitization. The digital skill gap is the discrepancy between the demand for technical experience and the supply of it. Rapid advancements in sectors like artificial intelligence, robots, and other technologies make it prudent to change the nature of the occupations that result as well as the skills required to perform such tasks.

Benefits of upskilling

There is no denying that the economy is developing quickly. Because of this, the pace of technological advancement keeps accelerating, and the demands on labour in today’s worldwide society keep increasing. Even so, economic expansion has stalled.

For organizations of all sizes, keeping up with the quick pace of technological advancement is a challenging endeavour. While technology brings fantastic economic possibilities, it also leaves gaps in the capabilities of the workforce, particularly in fields like manufacturing, healthcare, and construction, where trained workers are in high demand.

How can companies close the skills gap while retaining their current staff? In today’s increasingly technologically advanced world, a company’s capability for upskilling or training and developing its employees to expand their skill sets produces a competitive advantage.

Why Is Upskilling So Important in Today’s Workforce?

Because of the severe skills gap, 58% of employees, according to Gartner, need new skills in order to do their jobs effectively. A crucial solution to this issue is upskilling, which is the act of expanding a worker’s skill set (often by adding to an existing body of knowledge).

It affects the entire world. The value of upskilling from an economic perspective was recently covered in a study from the World Economic Forum (WEF). It contends that corporations must act quickly to launch an “upskilling revolution” that will enable workers everywhere to become fully immersed in the job of the future, whatever that may entail. Huge financial repercussions stem from that possibility. The WEF estimates that a concerted effort to provide the upskilling individuals need will increase the economy by trillions of dollars, with businesses who act swiftly to upskill their staff and remain ahead of the competition winning a piece of the action.

Upskilling is necessary

As we all know, losing employees costs money. According to Gallup, the expense of replacing a single employee might be anywhere between 50% to TWICE the individual’s yearly compensation, and that’s just a rough estimate. As a result, it is possible that a 100-person firm with an average pay of $50,000 might have yearly turnover and replacement costs ranging from $660,000 to $2.6 million.

The cost of upskilling sometimes referred to as reskilling, is less than that of recruiting and onboarding a new employee. 

By reskilling your personnel, you may increase the effectiveness of your team and create a workforce that is more well-rounded and multi-trained.

The advantages of upskilling a company go well beyond this.

1. Improved retention. Nobody wants to work for a company that doesn’t put enough effort into the development of its employees. By ensuring that employees’ skills remain relevant, you may show your staff that you are concerned about their future employment opportunities.
2. Morale is boosted. Employees who have opportunities for training and development are happier at work and more optimistic about their future with the company. By reskilling your staff, you can show them the path to advancement and excite them about what comes next. Knowing they are striving toward something that will enhance their life offers them a better sense of purpose.
3. Improved customer satisfaction When employees are content, customers are too. When employees are happy with their employers and have faith in their objectives, they work more effectively. Additionally, upskilling keeps your staff members up to date on market trends, enabling them to give customers and prospects the best counsel and insights. Customers are prepared to spend extra to deal with a team that is more proactive and educated. Customers that are pleased with your work become more ardent brand ambassadors.
4. Brings in fresh talent for the business. The skills gap data from SHRM shows that 83% of HR professionals are having problems hiring, and 75% of those HR professionals think there is a skills deficit among job seekers. Of course, as your company expands, you’ll probably need fresh talent to augment currently knowledgeable, professional workers. When employees have a feeling of purpose within their company and their clients are satisfied with their job, they become better brand ambassadors. That suggests they are more likely to recommend your business to their friends, previous employees, and family members. You suddenly have access to a big talent pool when it’s time to expand your squad.

Strategies for Employee Upskilling in Your Company

Although the task could seem overwhelming, with careful planning and focused investments, your team might be operating at its peak in a surprisingly short period of time. A multifaceted approach is necessary for an upskilling program to be successful. These six techniques will help you upskill your personnel.

• Prioritize your target areas and skill sets.

Even if the majority of employees can benefit from upskilling, businesses will get the best outcomes if they prioritize skills and areas based on their overall objectives. For instance, a company would want to ensure that the logistics team is knowledgeable about industry software or that the sales and marketing teams are maximizing social media.

• Upskilling should be taken into account in staff development and performance strategies.

In order to bring their team or the entire company on board with the idea, business leaders and team members should stress how upskilling can improve employees’ careers. For instance, achieving specific abilities may be tied to a future promotion or included in an employee’s annual goals. The time needed for upskilling must also be prioritized by company management, and if necessary, employees’ schedules must be trimmed down so they can concentrate on learning new skills.

• Enrol staff in training initiatives or courses.

When it comes to developing particular talents, formal instruction is the only option. Online courses designed for professionals may be used by businesses to train their workers in machine learning or to get them ready for new leadership roles. Numerous programs offered by Emeritus were created in collaboration with notable colleges. The bulk of them gives the possibility to work on specific business projects, and many of them may be accommodated into a professional’s hectic schedule.

• Utilize both internal and outside specialists

There are usually not enough personnel in an organization with a certain skill set. In this situation, employers could urge seasoned workers to assume the position of a mentor or even trainer. Depending on the talents in issue, companies may mix an employee who already possesses a given ability with one who wishes to learn it for one-on-one coaching. They could also encourage more extensive learning opportunities from qualified professionals, ranging from one-time lectures to lengthy training sessions. Do not any internal experts exist? Many firms discover that hiring outside trainers who are experts in a specific area for group coaching sessions on particular skills or tools helps them flourish.

• Give your workers complicated responsibilities.

Stretch opportunities, or tasks outside of an employee’s existing responsibilities and job description, enable workers to advance their skills while showcasing their capacity for taking on new challenges. Stretch assignments may involve giving an employee a new project position or giving an individual contributor leadership of a project team (such as analyzing data or creating a marketing strategy).

• Monitoring progress and rewarding it

Like any other company expenditure, measuring results is essential for iteration and development. Both employees and other managers are seeking methods to upskill their staff and benefit from keeping track of what works and what doesn’t. You may ask the employee to do an assessment or test project or to write a report on what they’ve learned; however, tactics will vary based on the skill. You may also reward workers for their efforts to develop their abilities. Please give them a financial incentive to finish it in order to highlight the importance of training and development. A happier and more effective staff is another benefit of positive reinforcement.

Upskilling your workforce: 7 ways

Below are a few methods for upskilling your workforce based on your organization’s needs: 

• Learning and Development – 

The easiest route is typically to upskill your personnel through a Learning and Development (L&D) program. Depending on the model you choose, the following four steps are necessary:

• An examination of training needs
• the learning objectives are described
• the creation of training materials and techniques
• monitoring and assessment

Each organization’s L&D strategy program will ultimately differ somewhat. In essence, this implies that the learning strategies a business chooses to upskill its personnel will also discuss. While some firms choose peer mentoring and a “upskill track” on their LMS, others prefer online courses mixed with in-person lectures and seminars (Learning Management System).

• Job rotation – 

The process of switching personnel between roles within an organization is known as job rotation. It may be a fantastic technique to transfer specific abilities, skills, and information. Since most of these rotations are lateral, it is likely that they occur between occupations on the same level.

For instance, managers must obtain experience in many areas before they are qualified for senior leadership roles. In a similar vein, HR specialists can lack commercial knowledge. Rotating them outside the HR division is a better strategy to develop these abilities.

• Job enlargement – 

Job expansion necessitates adding new duties to an existing position at the same level. Said, it indicates that a worker will perform more or different tasks as part of their present position.

Job expansion provides people with a variety of talents with education and aids in their professional development. Training is required for new work duties. It may be a way to upskill your workers, in other words.

• Job enrichment – 

The process of adding new aspects to existing employment is known as job enrichment. Examples include increasing your skill set, developing greater autonomy, and providing feedback.

While increasing motivation at work is the primary objective of job enrichment, it can also have the “bonus” benefit of upskilling workers.

• Peer coaching – 

Another method of upskilling staff is peer coaching. Together, two or more employees develop, hone, and acquire new abilities, educate and support one another, and work through issues at work.

Employees have been exposed to more job skills thanks to peer coaching. The intriguing aspect of this upskilling is that it has a more casual side, which means individuals have a peer they can speak with directly, ask questions of, and learn from by looking up to them. 

• Peer mentoring –  

Peer mentorship is the process through which a more seasoned employee mentors a less seasoned worker.

Upskilling can be facilitated via peer mentorship. Employees learn the majority of what they know via their interactions with coworkers and personal experience. It’s challenging to communicate inferred knowledge of this type.

• Hire external experts/specialists – 

There are occasions when you need to upskill employees but lack the necessary workforce. Either because training new staff would take a long time and you need individuals with specific expertise as soon as feasible. Perhaps you lack the knowledge and experience to begin upskilling individuals because the skills required are unfamiliar to you.

The hiring of independent experts or professionals may be a solution. These people can provide the necessary knowledge, abilities, and experience to launch a new initiative. You may create an opportunity for upskilling by bringing together the appropriate group of people within the organization with these outside specialists.