Top 5 Benefits of Upskilling and Reskilling Your Employees

With the world waking up to a new tech discovery every day, with the rising increase of future work prospects, it has become imperative for organizations to keep their employee skills up to date to constantly adapt to the changing market dynamics. While tech advancements have helped create more business opportunities, it has widened the skill gap.  

According to recent statistics, more than 50% of employees will need to upgrade their skills in the next five years to fit into the evolving job roles and meet skill requirements. 87% of McKinsey Global Survey respondents agreed that they are already experiencing gaps now or are expecting them within a few years. These alarming statistics emphasize why upskilling employees is the only solution to bridge the dreadful skill gap that has been slowing down tech innovation and digital transformation of almost every organization today. 

While Upskilling teaches new skills to employees to help them perform better in their current position, on the other hand, reskilling employees train them for different jobs in the same company. The two-way beneficial aspect of upskilling and reskilling makes these learning processes essential to employee training and development strategy. Upgrading skills add value to employee resumes and career prospects and helps organizations remain competitive in a constantly changing work environment.

Did you find this blurb on the importance of upskilling & reskilling interesting? Read the complete CloudThat blog illustrating the five important benefits of upskilling here...

By Paramita Dey, Technical Content Writer, CloudThat