by Laura Belyea, COO at Talivest
As the nine-to-five changes and working environment’s adjust, it has never been more important to invest in personal development. Not to be confused with training, personal development focuses on mental and social skills, which can be used professionally as well as personally. And this is why upskill training and development should be high on your HR strategic plan in 2021.
The Value of a Skilled and Motivated Workforce
We’ve seen a shift in employee values over the years. Today, personal growth is high on the agenda. Lack of career development and poor support for work-life balance are amongst the top reasons why employees leave their jobs.
83 per cent of employers believe that attracting and retaining talent is their largest hiring challenge. However, one of the easiest ways to overcome this, is by supporting colleagues in their personal career needs.
Which is why investing in upskilling matters, and it can benefit businesses greatly too.
Time to Level-Up
Upskilling and reskilling is the term used to describe learning new skills. This could be anything from learning a new language, to improving your coding skills, or pursuing a hobby with greater passion.
And it has never been more popular. We have all seen for ourselves, how useful it is to have a second set of skills to fall back on in uncertain times. To the extent that 16 million British people today have a ‘side-hustle’ (second income).
The Upskill Mindset
At a time when being resourceful is key to career longevity, upskill training and development is all part of the growth mindset.
Here’s 5 reasons why businesses should be supporting it:
1. Affordable investment in personal growth
Upskilling courses are the perfect go-between, often more affordable and accessible than corporate training, and with greater emphasis on transferable skills. HR teams should be setting aside budget for personal development, with many platforms today offering affordable and remote upskill courses and training bespoke to individual needs.
2. Vital for business growth
Having teams with a multitude of skills to access, allows businesses to grow, as well as promote from within. It has been shown that businesses with more diversity (in all respects) produce better results and see greater success.
3. Staying tech literate
The world is changing at a pace. An industry study from 2017 found that 14 per cent of the global workforce will need to switch jobs or acquire new skills by 2030, due to artificial intelligence alone. At the rate of technological change, digital skills need to be invested in, and should be seen as part of ongoing business investment.
4. Employee retention
Supporting career growth impacts on reducing turnover, while helping businesses to remain productive and progressive at the same time. Training of any type should be imbedded into the company culture, and viewed as part of personal development and investment in teams and resources. This also means that HR professionals should be keeping on top of business trends 2021 and beyond, to identify relevant upskilling courses for colleagues.
5. Identifies potential leaders
Offering upskilling is a great way to identify those who are keen to support their career trajectory and gain new skills. Those proactively seeking these opportunities will continue to grow and evolve into their roles, proving a valuable resource to employers.
Upskilling courses provide a cost-effective and modern approach to corporate training with personal development at the focus. Not only does it benefit the employee, but it aids businesses by having a skilled and up-to-date workforce, that feels appreciated and invested in.
Yielding a multitude of benefits, there has never been a better time to add upskilling to your HR strategic plan 2021.
Findings from the World Economic Forum’s Future of Jobs Report suggests that at least half of all employees will need to reskill by 2025, in line with economic and technological changes.
About the author
Laura’s role is to successfully support the growth and strategy for Talivest, as well as provide product support with her expertise within the HR industry. Previously posts were director of HR & operations in Telefonica, Elizabeth Arden and ICON