Is “upskill” a buzzword? Sure. But is it something you should know about and maybe even do in your company. Upskilling means that you’re training your employees to take on higher-level roles in your company over time. It’s more than a trend, for many professionals its an essential part of a good working relationship with their employers. Training current employees will lead to better retention rates, and it’s always easier to fill entry-level roles than it is to hire someone and train them to better understand your corporate culture in a short period. Here is the case for upskilling.

Invest In Your Current Employees

It is always easier to promote employees who already understand your corporate culture to hire higher-level positions externally. It’s also true that hiring entry-level employees is easier than hiring more experienced professionals.

By investing in your current employees and giving them the tools they need to advance their careers within your company, you’re creating a healthier ecosystem in your business.

Prepare for the Workplace of the Future

All evidence shows that the modern workplace will continue to evolve to include new technologies. These digital tools, such as artificial intelligence, will play a part in every industry, and companies need to prepare now.

Training your current team to work with these advancements will be far more economical than hiring experts in the future. You can also build these solutions around your specific company and the people who understand it best.

Increase Retention and Satisfaction

Employees in today’s workforce also indicate that they want to have more job security and growth opportunities with their current employers. It’s a myth that younger workers are job hoppers. If they have a company willing to work with them in the future, they’re very loyal employees.

Employee engagement is one of the most significant motivating factors for retention and success. By providing an environment that improves satisfaction, you’ll find yourself less likely to replace critical positions regularly.

Tap into Employee Interests to Empower Growth

One strategy experts suggest employing is to tap into your employees’ “skill adjacent” interests. While they might bring to the table specific experience, they will always be interested in other aspects of the company. Where do their interests and skills meet to benefit both of you?

You can cross-train employees, so you don’t experience stasis when someone needs to leave, whether their absence is short term or permanent. This will increase the effectiveness of everyone.

Is upskilling right for your business? Contact Harvard Resource Solutions Staffing Agencies in Detroit, MI, to help you find top talent who can learn new skills within your organization.