Upskilling and reskilling have become buzzwords in the modern workplace, as organizations aim to keep up with the rapid pace of technological advancements. However, there are still several misconceptions about upskilling and reskilling that deter organizations from investing in their employees’ growth. As a training partner, we have the proven experience to debunk and shed light on the truth behind these misconceptions.
Misconceptions about Upskilling and Reskilling
Employees are more likely to leave you once you upskill or reskill them.
One of the biggest misconceptions about upskilling and reskilling is that employees will leave your organization for a different opportunity once they refresh their current skills or acquire new skills.
Studies have shown that upskilling and reskilling programs lead to higher employee retention rates, with 94% of workers willing to stay at their company if their company invested in their career growth. When employees feel that their organization is invested in their professional development, they are more likely to stay loyal and committed to their employer.
Furthermore, upskilling and reskilling programs can also improve employee morale and job satisfaction, as employees are more likely to feel valued and engaged in their work after training opportunities.
It is better for the bottom line to recruit than to upskill or reskill.
Another common misconception about upskilling and reskilling is that it is more cost-effective to recruit new employees than to invest in the development of current employees. But, this is not necessarily true.
Recruiting new employees is an expensive and time-consuming process, requiring multiple resources for job postings, screening, interviewing, and onboarding candidates. On the other hand, upskilling and reskilling programs can be tailored to the specific needs of the organization, resulting in a more targeted and cost-effective approach.
Additionally, training programs can lead to higher employee productivity and efficiency. When employees are equipped with the skills and knowledge necessary to perform their job at a higher level, they can complete tasks more quickly and accurately, resulting in a positive impact on the organization’s bottom line.