The Importance of Upskilling and Reskilling in Learning and Development

Learning and development (L&D) teams have traditionally aimed to equip workers with the skills needed for their current jobs and future career advancement. While these goals remain true, the rapidly evolving professional landscape has made them moving targets. Today, the skills required for existing roles are constantly changing, and career progression within organizations looks different from the traditional path.

Continuous learning and adaptation are now essential for workers to stay effective. This is why 59% of L&D experts worldwide prioritize upskilling and reskilling. These practices not only provide employees with the versatility and growth needed to thrive but also offer significant long-term benefits for organizations.

Why Upskilling and Reskilling Are Crucial

Adapting to the Changing Work Environment

As Chief Digital Officer Laura Merling notes in her course on Accelerating Digital Transformation, we are in the fourth industrial revolution. Businesses that fail to stay agile and adopt modern technology quickly become obsolete. Skills in cloud computing, user experience, data science, and connectivity are now essential.

The rapid pace of change underscores the importance of building a team of lifelong learners. 63% of L&D leaders agree that L&D should have a permanent seat in the C-suite. As Merling emphasizes, “We’ll need to reskill more than one billion people by 2030” due to technological transformations.

Retaining Employees and Reducing Attrition

Before the pandemic, 94% of employees said they would stay longer at a company that invested in their careers. The need for reskilling and upskilling has only increased since then. The World Economic Forum predicted that by 2022, 54% of employees would need significant reskilling to remain competitive.

Learning isn’t just about career advancement; it’s about career durability. Without opportunities to keep up with technological advancements, employees will seek employers who offer such growth. Over 40% of the global workforce considered leaving their employer in 2021, indicating that investment in current employees is crucial to avoid high turnover.

Meeting Gen Z’s Learning Expectations

As Gen Z enters the workforce, their priorities are reshaping workplace expectations. They value learning highly, with 76% believing it is key to a successful career. They are dedicating more time to learning, evidenced by a 50% increase in hours spent on learning content in 2020 compared to 2019.

Gen Z recognizes the rapid change in hard skills and doubts that their current jobs will exist in the same form 20 years from now. They know continuous learning is essential for staying relevant and advancing in their careers. To retain this top talent, employers must demonstrate a commitment to their learning and development.

Enhancing Work Culture Through Growth

Embedding a culture of learning offers perpetual benefits. Nearly two-thirds of learners agree that learning makes them more adaptable. Success in professional learning creates a flywheel effect, where employees see the value of learning and pursue it more actively.

Upskilling helps employees improve in areas they already understand and care about, leading to successful learning experiences. This opens doors for reskilling and exploring new capabilities, fostering a culture of continuous growth and development.

Encouraging continuous learning is one of the best ways to future-proof an organization. Focusing on upskilling and reskilling not only addresses current challenges but also prepares workers for future changes. The more prepared your workforce is to learn, the better equipped they—and your organization—will be for tomorrow’s challenges.

By Dana Weidinger, courtesy of SBAM-approved partner, ASE.  Source: McLean & Company, Reimagine Learning Blueprint

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