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One of the constants in the world of business is change. This year has exposed us to brutal nature of change– with the world in lockdown and its markets in shambles. Unemployment is the highest it has been in recent history, and layoffs have become commonplace. It is specifically this, which illustrates the need for upskilling and reskilling of employees in the current age.
Upskilling refers to the training an employee receives in order to perform better at his current job, whereas reskilling refers to the training of additional skills that an employee receives in order to help them perform a different job to their own. The benefits are as follows:
Hiring costs can be significantly reduced by reskilling and upskilling the current employee pool to better suit current company requirements, instead of having to sift through an untested batch of new hires.
A company with more knowledgeable, versatile and skilled workers can adapt better to changes in the market, and as such mitigate most of the losses they would have suffered otherwise. It allows you to futureproof your business.
Knowledge and skill relevant to the different sectors of a business can allow an employee to accomplish more than they would if they were to only know their role in the business.
Facilitating the reskilling and upskilling for the employees of a company is a very necessary practice in today’s world of COVID-19. It is more important than even before, to be prepared for change.
