The Upskilling Imperative
How to navigate the future of work and thrive in times in change
In the face-paced environment of today’s workplace, there’s a term gaining increasing momentum: Upskilling. Life is teeming with buzzwords and catchy new terms though, so you might be left wondering what Upskilling even is in the first place. Related discussions of “Reskilling” or “Skills Gap” identification can further muddy the waters when addressing these topics. So, let’s start by tackling the first fundamental question: What is Upskilling?
The essence of Upskilling is the process of acquiring new and relevant skills pertinent to one’s profession or desired career trajectory. Reskilling tends to refer to this same process but in relation to skills in a different role or on a new career path, while identifying “skill gaps” is the process of identifying where vital knowledge and capabilities are missing from existing roles and business needs.
How does Upskilling work exactly?
Upskilling can take place at either a corporate or a personal level. Many organizations have formal Upskilling / Reskilling processes where employees can undergo training to enhance and grow their skillsets or pursue new roles internally by developing different ones. In other circumstances, individuals pursue upskilling on their own. Formal courses, online certifications, workshops, seminars and self-paced learning through books, podcasts or webinars are some of the most common methods of upskilling. The ideal path usually is best determined by your learning style, the nature of the skills being learned, and their application to the real world. More than simple office training, Upskilling is ultimately about enhancing your skillsets to remain valuable (or increase in value) in an ever-changing, competitive professional environment.
Is Upskilling worth it?
If you’re considering the merits of Upskilling or Reskilling, it’s vital to understand that learning new skills or altering a career trajectory can take a great deal of time and effort … and not insignificant financial investment in some circumstances. There are some critical pros and cons to evaluate when assessing whether the effort is worthwhile for you. Here are some of the most impactful pros and cons we have encountered across many industries:
Pros:
Competitive Advantage: Being a step ahead in your field by having a wider skillset gives you an edge. 35% of employees today believe that they don’t have the necessary skills to be competitive in their industries.
Job Security: You become an invaluable asset to your company, reducing the risk of redundancy.
Career Advancement: Upskilling can open doors to promotions, new job roles, and greater opportunities.
Enhanced Earning Potential: Specialized skills often command higher salaries. Employees with the most modern and relevant skills tend to earn salaries 50% higher than the national average.
Personal Growth: Beyond job roles, upskilling nurtures a growth mindset and personal development.
Cons:
Time Intensive: Acquiring new skills takes time and effort.
Potential Costs: Some courses or training might require a financial investment.
Overqualification: There's a potential risk of being perceived as overqualified for certain roles.
Today’s workforce is changing more and faster than ever before. In that landscape, Upskilling represents huge opportunities but can demand a lot in return. Over 375 million workers are expected to switch occupations by 2030 due to advances in automation and artificial intelligence. Our experience and insights into the labor market show that Upskilling is almost always worth your time and investment and tends to pay out big time in the long run. Achieving that payout requires commitment and a strategic approach though. If you want to make the most out of your Upskilling efforts, you need to have a plan.
How do I start upskilling?
With something as important as your career, you don’t want to leave things to chance. We’ve found that the best way to maximize the benefits of Upskilling is to create a plan that is clear, achievable, and strategic. To get started on your own plan, take the following steps:
Self-Assessment – Before diving into any upskilling process or program, it’s essential to understand where you currently stand in your career and what skills you possess. Conduct an exercise to reflect on your strengths, weaknesses, and areas of interest. What do you enjoy about your current role? Where do you feel lacking? You can even take a skill gap analysis or simple self-assessment tests to gauge your knowledge and experience. Questions and tools like these can help guide you to an accurate understanding of where you are currently; allowing you to chart a clear path forward.
Industry research – With the job market constantly evolving, certain skills can easily become obsolete, while others rise in demand. Take time to familiarize yourself with the latest industry trends, emerging technologies, and sought-after skills in your field. Websites
Set clear objectives – Specifically define the skills you are pursuing. Outline how you intend to use them. Establish your desired timeline for the effort.
Choose the right learning platform – Based on your objectives, determine if online courses, traditional classes, workshops, or self-paced learning is best for you.
Stay consistent – Set a learning pace that is sustainable and enjoyable. You might feel in a rush to learn as much as possible, as fast as possible but slow and steady tends to win the race.
Feeling excited? Maybe a little bit anxious? That’s totally normal. Having a solid plan and goals helps to alleviate stress and positively channels excitement when growing personally and professionally through Upskilling. It doesn’t need to be a journey you take alone though! Get buy in and input from your boss, your colleagues, and your team.
How do I talk to my boss about Upskilling?
Sharing your motivations and plans can be daunting, but it can also be critical to your success. Open communication can pave the way for professional growth and strengthen your position within your company. 80% of CEOs believe that the need for new skills is their #1 challenge today. When initiating these conversations with your team and leaders, it’s important to:
Position it as a win-win – Emphasize how your upskilling can benefit not just you, but your team, your department, and the entire organization. Acquiring new skills often helps streamline processes, drive innovation, or tap into new market opportunities for growth. Businesses that are actively Upskilling their workforce are 45% more likely to improve their market share. By presenting Upskilling as an avenue that yields mutual benefits, you’re much more likely to gain support, and perhaps even resources to support you, like time off, financial aid, or on-the-job training.
Provide a clear plan – Lucky for you, you now already have a plan in place! Backed with research, clear goals, a timeline, and a great starting point, you’re ready to present a strong case for your Upskilling endeavors. Detail the specific skills you’re looking to acquire, the courses or programs you’re considering, and outline how this learning aligns with your current role or the company’s interests through some new role. A well-organized plan showcases your initiative and commitment and makes it easier for your boss to visualize and support your upskilling journey.
Discuss implementation – End the conversation by discussing how you envision integrating these new skills into your current role (or transitioning into a new one). Whether it’s taking on new responsibilities, training others, spearheading new projects, or chasing company targets in innovative new ways, offer tangible ways that you will utilize what you’ve learned. Finalize details on when and how you will move forward, and what communication on your progress and results will look like.
At the end of the day, Upskilling is more than just an industry trend – it’s about investing in oneself. The advantages significantly outweigh the costs. While the journey may demand time, effort, and financial resources – professional growth, job security, and personal fulfillment are always worth the investment.
As we navigate our ever-evolving job marketing, it’s helpful to remember to put the Upskilling journey before the destination. It’s an ongoing effort, a habit that when mastered, will ensure you thrive today, tomorrow, and long into the future.
What are your thoughts and experiences with Upskilling so far? We would love to hear from you! Are you currently Upskilling? What challenges have you encountered? What tools and tips have made you more successful in the process? Join the conversation and let’s pay the way for a brighter, more Upskilled future!