Understanding how these two processes can drive organizational growth
Upskilling refers to teaching employees new skills they can add on top of their current abilities.
This process is mandatory for professionals who want to advance in their roles and stay up to date with the changing industry trends. Upskilling should always be a part of your company’s L&D strategy as it helps you maintain a talented workforce and stay ahead of your competitors.
Reskilling is the process through which an individual learns or renews skills that will help them change their careers, or even switch industries altogether.
Most often, when individuals opt for reskilling they’re looking for similar skills to the ones they have, or have a clear outline of what their company needs. Organizations focusing on reskilling keep their existing employees, but move them towards a different position or department.
More companies have started to realize the importance of these two processes as effective methods for preventing a severe skills' shortage. Before 2022, individuals were tempted to maintain a set list of skills and simply work hard, so their companies can thrive. In reality, this approach proved itself as inefficient, as employees who couldn’t adapt to new demands were furloughed or laid off.
