What is training ROI?

Training ROI, which stands for training return on investment, serves as a metric to assess the success of training in achieving desired objectives. Primarily a financial measure, ROI calculates training benefits in relation to the invested resources in an intervention.

Unlike subjective evaluations like ‘happy sheets’ measuring learner satisfaction and learning distance traveled, Training ROI focuses on quantifying tangible business results directly influenced by the training. It delves into the bottom line, providing valuable insights into the effectiveness of the training initiatives.

What’s the outlook for training ROI?

The encouraging finding from an employment survey conducted by the UK Commission for Employment and Skills (UKCES) reveals that employers are actively investing in training and development for their workforce. On average, approximately 60% of the UK’s employees have participated in the training, amounting to a substantial £42.0 billion in employer expenditure, equivalent to an average of £1,500 per employee.

However, the unfortunate reality is that only a few organizations are taking additional measures beyond making an initial financial commitment (such as paying for a provider/consultant or granting employee time off) to optimize their return on investment. As a consequence, the desired objectives of learning and training are rarely achieved to their full potential.

In a paper discussing how to maximize training impact, Jay Bahlis emphasizes that regardless of whether training decisions are based on financial measures like Return On Investment (ROI) or qualitative measures like Return On Expectations (ROE), the ultimate goal should remain consistent: to generate the greatest benefits (value) while minimizing costs as much as possible.

Here are 10 valuable pointers to optimize your training return on investment:

1. Use training as a strategic business tool

Usually, training is used as a mere solution to address team weaknesses instead of being strategically integrated into organizational development. As emphasized by Investors in People UK, aligning employees’ skills and development areas with the organization’s strategy will significantly enhance the overall performance of the business.

2. Have clear organizational goals in mind for training

Every organization must consistently inquire about its training objectives and the advantages it will gain from enhancing knowledge, and skills, and fostering behavioral changes within the workforce. Clearly communicating these aims and goals to employees is crucial, ensuring they comprehend the expectations before, during, and after the training. By elucidating the bigger picture, employees are motivated to align themselves with the overall vision of the business.

3. Identify skills gaps accurately by asking for outside help

Do not hesitate to seek external support in identifying gaps and potential interventions. Collaborating with an external consultant offers an impartial perspective to assess business needs and recognize skill gaps objectively. In small businesses, it can be challenging to see beyond immediate support requirements, making external input invaluable.

4. Ask your people to commit to what they want from the training

While setting organizational goals is crucial, it’s equally vital for your employees to grasp the value of training on an individual and personal level. Encourage them to contemplate the training’s potential content and what they wish to achieve from it.

A helpful approach is to have your employees jot down questions before the training and motivate them to find answers during the intervention. Additionally, ensure clarity on what knowledge and actions you expect them to acquire, as your objectives will shape your assessment of the training’s success.

5. Create a clear and focused environment

In your busy lives, juggling various tasks during the working day can be common. To ensure your employees gain the maximum benefit from a training program, it’s essential for them to be fully focused and free from other distractions. This entails no phone usage, no attending meetings, and no responding to emails, among other distractions.

Before the training intervention, proactively set deadlines for your employees to tidy up their schedules. By adopting an attentive approach to learning, they can pave the way for effective learning, retention, and application, ultimately leading to an increased return on investment.

6. Ensure that the training meets the needs that YOU have

Make certain that the objectives of the training course or intervention align with your specific business proposition. Opting for a generic training program designed for all companies may not effectively address the skills gaps and enhance performance in your unique business. While this might not always be the case, prioritizing ROI as a key driver warrants serious consideration when choosing between an ‘off the shelf’ program and a tailored or bespoke one.

If you decide that a tailored approach is the best fit, request a bespoke consultation, and ensure that the proposed plan of action is customized to suit your organization’s needs, delivering the desired outcomes you seek.

7. Evaluate job behavior before and after training

Assessing job behavior both before and after training is crucial to gauge the precise impact of the training. However, don’t halt your efforts there. It’s essential to consistently monitor changes over time to ensure the lasting impact of your training investment. Relying solely on post-training evaluation sheets is insufficient. A reputable training provider will collaborate with you to effectively evaluate the return on investment and ensure the training’s long-term effectiveness.

8. Aim to foster personal and professional development

Organizations that genuinely encourage and cultivate a learning culture are likely to experience significantly higher returns on their training investment, leading to subsequent improvements in overall performance. With this in mind, organizations should focus on developing three key factors that play a vital role in building a learning organization.

• Encourage top-down leadership behavior that positively reinforces and rewards all forms of learning, whether formal or informal.
• Implement systematic learning processes and practices that actively encourage learning and its practical application within the workplace.
• Foster a supportive learning environment where employees feel safe to experiment, practice, and reflect, without the fear of failure or making mistakes.
• Establish a method to align individual learning goals and interventions with organizational objectives, enabling employees to understand their roles within the broader organizational context.

9. Ensure your employees are consistently engaged

A lack of motivation or boredom can undermine a training program’s potential effectiveness. Ensure your team remains fully engaged and attentive throughout the training period. If any issues arise or your team starts losing focus, communicate these concerns with your training provider.

Reputable providers are open to flexibility and will be willing to adapt their program if certain aspects do not resonate well with your team. Continuous improvement and adaptation of training programs are essential to achieve the best possible results.

10. Consider training as you would a project

Approach training as a project, recognizing that the greatest ROI stems from well-planned, organized, and systematically controlled training (while allowing room for fresh thinking and innovation). Just like any project, begin by clearly defining your objectives and what you aim to achieve.

Involve all stakeholders, ensuring they understand their roles throughout the process. Select the most suitable training methods, considering the associated costs, and plan how you will measure the training’s ROI.

Design the training meticulously, prioritizing effective learning and application. After completion, evaluate the training’s impact and measure the ROI. Conclude the “project” by reviewing lessons learned and taking actions to further maximize future training ROI. Stay tuned for more insights on this topic in future blogs.

 

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Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

By 2030, a staggering 94% of the current workforce will lack the complete set of skills required to perform their jobs effectively. This statistic can leave you feeling disheartened or drive you to create a robust upskilling program that will fill you with joy by the end of the decade.

If you are in a leadership position or involved in shaping people development strategies, skills gaps will inevitably pose a challenge. The key is to identify the new skills you lack or the existing skills that need further development. Then, you can build a comprehensive upskilling strategy that ensures you stay relevant, productive, and competitive in the ever-changing landscape.

The good news is that it is entirely possible to bridge these skill gaps, but it requires laying the groundwork of understanding skill development and crafting an effective strategy. In this ultimate guide to upskilling, they will walk you through all the necessary steps to achieve success.

Defining Upskilling and Reskilling

What is Upskilling?

Upskilling is a wonderfully versatile concept, encompassing various definitions depending on its application!

It involves expanding the skill sets of individuals to close the skill gaps within a company.

It’s the process of acquiring new skills that ensure one’s relevance in rapidly evolving industries.

It entails developing the talents of existing team members, thus reducing the need to hire new personnel.

In reality, a well-crafted upskilling strategy combines all these aspects and more, showcasing the true beauty of upskilling. Its numerous benefits lead people to define it based on how it enhances their lives, boosts company performance, and drives overall success. We’ll explore these benefits further in the following discussions.

What is Reskilling?

Reskilling, as opposed to enhancing current skills for improved performance in one’s current role, involves providing training and education to enable individuals to transition into entirely different positions. This can occur for various reasons, such as employees seeking new career paths, employers restructuring their workforce, or adapting to changes in the external business environment. In such scenarios, reskilling becomes a valuable and necessary approach.

Defining Upskilling and Reskilling in a single sentence

Upskilling entails enhancing an employee’s existing skills and competencies within their current role, with the aim of improving individual and company performance. On the other hand, reskilling involves transitioning into a different role and acquiring new skills to fulfill the requirements of that position.

How reskilling and upskilling work in the working world

From the World Economic Forum to Walmart, numerous research studies and upskilling initiatives have been undertaken, providing valuable context. The prevalence of upskilling raises questions about its significance and impact. Influential companies actively respond to this trend, prompting us to explore and glean insights from their approaches. By examining these examples and experiences, they can develop a robust and effective upskilling strategy of their own.

Upskilling’s role and importance by numbers

When viewed from a limited perspective, the upskilling issue appears straightforward. Businesses often face challenges finding individuals with the required skills, impeding progress. To avoid falling behind, they embrace upskilling as a means to bridge the skill gap and continue moving forward.

Focusing solely on the business response would undermine the significance of upskilling. It is a global issue influenced by various factors, holding the potential to bring significant advantages or challenges to numerous industries worldwide.

The drivers behind global upskilling and reskilling

According to the World Economic Forum’s (WEF) The Future of Jobs Report 2020, it was projected that by 2025, half of all global employees would require upskilling. Factors such as the growth of automation, the demand for high-skilled jobs, and responses to the pandemic were identified as significant influences leading to this remarkable figure.

Employees are not unaware of these changes in the job landscape. 39% of them believe that their jobs may become obsolete due to evolving skill requirements, and 60% attribute this concern to the impact of automation, which they believe puts numerous jobs at risk.

In a PWC Upskilling Hopes and Fears 2021 study that surveyed 32,500 workers, 77% expressed readiness to learn new skills or undergo complete retraining, and 74% viewed training as a personal responsibility. This demonstrates that employees are actively engaged and motivated when it comes to their career development.

Another encouraging report, a joint effort between the WEF and PWC, highlighted the economic benefits of upskilling employees, stating that “Wide-scale investment in upskilling has the potential to boost GDP by $6.5 trillion by 2030.” Additionally, if skills gaps are closed more rapidly, similar benefits could be achieved nearly two years ahead of schedule.

The response from people and businesses

They could easily attribute these changes to the evolving work environments that demand a response. However, it’s essential to recognize that our lifestyle, shopping habits, research methods, and interactions with products are also continuously evolving.

As people discover and utilize their products in new ways, it can lead to significant shifts in the skills required to effectively market, sell, and perform our jobs. This concept involves elements we can control and those we must respond to, a notion supported by the data.

According to the World Economic Forum (WEF) findings, companies estimate that 40% of their employees will need reskilling programs lasting six months or less. Moreover, a staggering 94% of business leaders believe that their employees should acquire new skills while on the job. These figures reflect the growing recognition of the importance of staying adaptable and responsive to the changing demands of the modern world.

The growth of digital roles is understandably considered a significant factor in the evolving skills landscape. However, they can equally attribute this transformation to the impact of hybrid working and the changes brought about by the pandemic. A remarkable 84% of respondents acknowledged that COVID-19 accelerated the digitization of work processes, and half of them believed it would expedite the adoption of task automation.

Interestingly, 42% of respondents revealed that the pandemic gave a significant boost to their upskilling and reskilling efforts. This finding reinforces the idea that upskilling and reskilling are not merely responses to evolving circumstances but are becoming important priorities in managing change and driving growth. As their work environment evolves rapidly, the importance of acquiring new skills to stay relevant and adaptable becomes increasingly evident.

Who upskills well and how do they do it? Companies closing their skills gaps

Upskilling may not be a magical solution, but gaining insight into how innovative companies are successfully implementing it can be truly enlightening! By understanding their strategies and approaches, we can avoid the skill trap door and effectively navigate the path to upskilling success.

L’Oréal: Responding to changes in their environment and budget

Let’s begin with L’Oréal, as their upskilling efforts are truly remarkable! However, to fully appreciate the beauty of their approach, we need to delve deeper into the details.

During an interview with Elise Ducret, L’Oréal’s Chief Marketing & Digital Officer, she disclosed how budget constraints and the impact of the pandemic led them to shift their focus from paid advertisements to leveraging SEO and content marketing.

“…it has become clear that SEO has regained its first place as a performance channel for us and become more important than ever”, with Ducret effusive in her praise for the brand credibility that quality content allows them build with their audience.

As part of their response, L’Oréal equipped their marketing teams with Botify, an automated tool that continuously updates and optimizes content to maintain search rankings. However, Elise Ducret’s statement, “We develop a content strategy, become subject matter leaders, and ensure we are capturing the interest of our consumers in a more authentic way,” suggests that their approach involved more than just adopting new software.

Although the specific details of their actions remain undisclosed, it is likely that L’Oréal made investments in content and SEO upskilling, considering their shift towards the primary digital channel. Simultaneously, the individuals managing paid advertising might have received training to reskill in this area, as ad spending was scaled back.

Moreover, the key takeaway from this example is that upskilling doesn’t always entail learning entirely new skills. Sometimes, providing teams with tools or technology that streamline processes can enhance productivity, and effectiveness, and foster a positive feedback loop that encourages future upskilling endeavors.

Amazon: Analysing your employee data to drive relevant skill development

Amazon, known for its swift product deliveries, has embraced a noteworthy long-term approach to upskilling. Their journey began by analyzing workforce and hiring data spanning five years, which led to the identification of their fastest-growing highly-skilled job roles. Building upon these insights, they devised a comprehensive upskilling strategy.

During their research, Amazon uncovered astonishing growth rates in specific key positions, including data mapping specialist (+832%), data scientist (+505%), solutions architect (+454%), security engineer (+229%), and business analyst (+160%). Additionally, considering the significance of customer fulfillment, Amazon noticed a substantial 400% increase in highly skilled jobs.

In 2019, they announced a significant investment of $700 million to upskill 100,000 employees in the United States by 2025, launching the ambitious initiative called “Upskilling 2025.” As part of this program, the e-commerce giant is diligently preparing its workforce to acquire essential skills through various avenues, including:

• Amazon Technical Academy: Amazon has introduced a program that equips individuals with the necessary skills to transition into software engineering roles. What makes this initiative even more remarkable is that it was developed by Amazon’s existing software engineers, emphasizing the importance of social learning and knowledge sharing within the company. The program adopts a project-based learning approach, ensuring that students grasp the practical application of the skills in real-life scenarios and on the job.
• The Machine Learning University: On the other hand, this particular program is exclusively available to individuals with a coding and tech background. Acknowledging the busy schedules of the participants, the program is designed as six-week modules, requiring only a half or full day of commitment per week. Throughout the duration, participants receive guidance from Amazon’s Machine Learning Scientists to ensure they acquire the appropriate skills effectively.
• Associate2Tech program: This course is available to IT support technicians at Amazon, offering them on-the-job training spanning 90 days. Additionally, Amazon covers the cost of their A+ Certification test, and with no degree required, the course is accessible to a wide range of individuals.

PricewaterhouseCoopers (PwC): Building a growth mindset and continuous improvement focus

“You can’t protect jobs, but you can protect people.” This succinct and profound statement captures the essence of upskilling, making it a delight to hear. Carol Stubbings from PwC emphasizes that during times of change and innovation, it’s crucial not to leave people behind. As their Joint Global Leader for People and Organization, she elaborates on this perspective:

“You have a responsibility to protect people and provide them with the right skills and the right training to enable them to be successful within your organization.”

As expected from its title, “Upskilling: Bridging the Digital Divide,” this 12-minute video primarily focuses on technological advancements, yet it offers valuable lessons applicable to a wide range of skills. The video emphasizes the significance of cultivating a positive mindset and fostering a culture that encourages employers to support and employees to eagerly pursue learning new skills.

Stubbings emphasizes the importance of people being open to learning and being receptive to upskilling opportunities. CitiBank’s Kate Matthews further elaborates on the mindset required for individuals to successfully embrace and pursue such development initiatives.

Tamal Bhattacharya, Senior Manager at PwC UK, shares a similar sentiment, stressing the significance of continuously improving oneself and acquiring new skills that will make individuals relevant for the future.

Upskilling lessons from the PwC experts

While inspirational quotes can be motivating, the real value lies in tangible takeaways that can be gleaned from the message. Here are some practical insights you can use to upskill your employees:

• Manage the pace of change: Richard Edelman, the President, and CEO at Edelman highlights the reasons behind people’s apprehensions about developing new skills: “At the moment, people are governed by their fears; two to one, they think that the pace of innovation is too fast.”Their responsibility is to alleviate concerns related to keeping up with rapid changes and to foster the development of skills necessary to stay relevant within those time constraints.
• Demonstrate internal mobility: As highlighted by Kate Matthews, your existing employees possess a level of company understanding that new hires simply cannot match: “It’s also easier in many ways to leverage the institutional knowledge you already have and add new skills to it, rather than bringing in new people from the outside.”Establishing an environment that encourages frequent and visible internal mobility emphasizes the value and significance of learning new skills while also recognizing and appreciating your top-performing employees.
• Get the right leadership in place: “First and foremost, we must motivate individuals to willingly embrace a continuous learning mindset and seize the opportunities it offers. Second, it is essential to offer comprehensive training, skill development, and coaching to enable people to grow and progress, ensuring both job security and access to future job opportunities.”

Bob Moritz, the Global Chairman of PwC, highlights the crucial importance of having the right individuals with strong leadership skills to lead and implement our upskilling strategies and foster a culture of continuous learning. Visionary leaders are essential, capable of not only translating plans into action but also inspiring and engaging people along the way.

Recognize the role of technology: Instead of fearing the evolution of technology, we should embrace tools that automate tasks that hinder their progress or those we find less enjoyable! Carol Stubbings emphasizes that:

AT&T: Self-awareness of how fast your industry is changing and creating clear paths to new roles

Acknowledging that half of their 250,000-strong workforce lacked essential critical skills for staying competitive required immense courage. AT&T faced the daunting task of upskilling 125,000 people. In 2018, the company publicly admitted this reality while undergoing a transformation from a voice network to a data network.

As they delved into the skills necessary to thrive in the new mobile- and software-centric world, they confronted a harsh truth: they lacked sufficient talent. Key areas of concern included science, engineering, math, and technology skills. Additionally, the company anticipated that 100,000 workers were in hardware-related roles that might become obsolete within a decade. This CNBC article captures AT&T’s journey through this transformative period.

At a critical juncture in their workforce’s skill development, Bill Blase, the Senior Executive Vice President of Human Resources, articulated the situation they faced.

“We could go out and try to hire all these software and engineering people and probably pay through the nose to get them, but even that wouldn’t have been adequate. Or we could try to reskill our existing workforce so they could be competent in the technology and the skills required to run the business going forward.”

They did not overspend; instead, they committed $1 billion to Future Ready, their reskilling initiative, which primarily offered online training, courses, and reskilling opportunities. While many companies might consider this investment sufficient, the more important question is: where do these acquired skills lead?

AT&T established its Career Intelligence portal, which highlights available jobs, the required skills for each role, and remarkably, whether that field is expected to grow or shrink in the coming years. This clarity allows employees to focus on learning skills relevant to roles with long-term viability, ensuring meaningful career development for AT&T’s workforce.

Walmart: Creating new career paths in high-demand areas

“As the largest private employer in the U.S., Walmart aims to be the market leader in providing retail workers a path to careers in growing fields like healthcare,”explained Ellie Bertani, Senior Director of Learning Strategy & Innovation at Walmart.

That’s why they opted for Penn Foster’s upskilling platform to offer pathways into healthcare careers. This tool provides on-demand, career-specific coursework that combines online learning with practical skill-building in the workplace. At the time of the announcement in 2019, all Walmart employees not currently working as opticians or pharmacy technicians were eligible to enroll in this training.

This decision came after the U.S. Department of Labor identified healthcare as the country’s fastest-growing industry, and Walmart recognized the opportunity to elevate employees into more secure and higher-paying positions.

Another valuable lesson from this is the importance of defining the purpose of your upskilling programs. By offering a pathway to roles that address real needs, organizations are more likely to tap into their employees’ motivation and sense of purpose!

Why should we upskill employees?

The benefits and advantages of upskilling

When an employee clicks the “add skill” button, they provide skill suggestions based on their job role. These suggestions are derived from a pool of over 500,000 live job roles that we continuously measure and analyze. This enables you to gain insights into the in-demand skills required for the positions within your team.

Guided self-assessment

Have you ever been asked to rate something on a scale of one to ten without any context about what each point on the scale represents? People need context to make informed decisions! That’s why we offer it by providing five levels of proficiency, ranging from Novice to Expert, to help individuals accurately assess their skills.

Request a peer review

Some of us may be too modest about our skills, while others may overestimate their abilities. That’s why getting a second opinion is essential. After completing a self-assessment, you can click on the three little dots next to your rating and request an endorsement from a colleague to provide additional feedback and validation.

Get quick insights into skills levels in your team

After investing time in collecting and assessing your skills, you’ll want to generate reports quickly. While we’re not quite as fast as blinking, with just a couple of clicks, you can filter skills by proficiency, job role, and the date they were last updated!

With this feature, you can swiftly identify the skills present in your team, their proficiency level, and whether they are up-to-date – all within one user-friendly dashboard.

Step 3: Mind (and measure) the gap

At this stage, you can approach the skills gap analysis from two perspectives.

• Quick wins: Skills that are required but currently lack the proficiency needed for effective performance.
• Long-term goals: Skills that are completely absent, presenting a separate and urgent challenge.

This important step helps you avoid the knee-jerk reaction of hiring external talent to fill gaps. Instead, it enables you to identify individuals with internal potential for growth and determine where external hires may be necessary. It’s about being thoughtful and prioritizing the most urgent talent needs.

Step 4: Closing the skills gap

Congratulations, you now have all the necessary tools to tackle skills gaps! This means you can direct your resources and upskilling efforts effectively.

The next important step is figuring out how to implement your plan. In this section, you’ll cover a few key aspects to help you wrap up your upskilling strategy.

The role of a personal skills gap analysis

Now, certain companies may not prioritize upskilling, leaving employees to take charge of their own talent development. On the other hand, some organizations may encourage individuals to conduct a personal skills analysis to identify their areas for improvement.

Here are a few steps that someone can take to carry out a personal skills analysis.

• Review job descriptions for similar roles and take note of the key skills mentioned.
• Have conversations with individuals in your current position or those you aspire to be in and inquire about their skill sets.
• Reflect on your own performance and identify your strengths. This will help you recognize your existing skills, as well as pinpoint areas where improvement is needed.
• Access reports and research related to your field. Many studies are easily available by filling out a quick form with some personal details. These resources will provide insights into the industry’s direction.
• Examine your own CV. While knowing when you acquired a skill is essential, it’s easy to forget the exact timeframe. Review your CV to analyze the duration since you acquired each skill.

How to upskill, reskill and develop your people

Even when two individuals need to acquire the same new skills, it’s highly improbable that they will share the same starting point, existing knowledge, or experience. Unfortunately, most upskilling guides overlook this crucial fact and present techniques as if they can be universally applied.

In reality, successful upskilling requires a deep understanding of the context in which you apply these techniques, as well as knowing where and why to implement them. Effectively identifying skills gaps and providing individuals with the necessary tools to bridge those gaps is one of the most overlooked and underrated leadership skills.

Personalize your upskilling and learning programs

Arguably the most important tool at your disposal is the recognition that effective upskilling is centered around individual people. When there’s a specific skill or proficiency gap in your team, you can identify potential in someone and leverage that potential to close the gap.

However, there are numerous variables at play, making a personalized approach essential. You must take into account:

• The existing level of skill and knowledge.
• Where has that been obtained (in the same company, industry, or elsewhere?).
• The day-to-day tasks or responsibilities of that individual.
• How that person likes to learn.
• Where that person works (both physically and in terms of tools they use).
• Their current performance and metrics in the role.
• Personal goals for that individual.

Upon reviewing all the information presented, it becomes evident that generic programs and courses cannot effectively address specific skill gaps.

By assessing individuals’ existing knowledge, you avoid wasting time teaching them what they already know. Understanding their current job and skill-building aspirations enables you to tailor learning to their specific needs. Recognizing the sources of their existing knowledge provides valuable context for determining the most relevant content. This personalized approach is the key to the power of upskilling!

Define impact: Without it, how do you know if you’ve achieved success?

In the midst of upskilling efforts, it’s not uncommon for people to lose sight of the purpose behind developing a skill. While the ultimate goal is typically to support the company in achieving its objectives, solely measuring skill proficiency without considering its impact can lead to an incomplete understanding of success. That’s why it’s essential to measure both aspects.

When creating upskilling pathways, it’s crucial to set clear goals that define the intended outcome. For instance, providing Person X with Skill Y to achieve Outcome Z. By doing so, you ensure that building the skill is not the sole focus, but also achieving the desired impact and results. Without this defined impact, the overall clarity of the upskilling initiative might be compromised.

Leverage social learning and your internal experts

You must remain vigilant against developing tunnel vision when it comes to upskilling. It’s easy to view upskilling solely as a way to introduce new skills to the team, but it’s equally important to focus on developing existing skills in more individuals.

In fact, building a sustainable upskilling strategy involves nurturing the skills already present within the organization, rather than constantly seeking external talent. For instance, if we have an expert in product launches and plan to increase our number of releases, relying solely on that one expert would be impractical. Instead, we should aim to cultivate this skill in more employees.

The expertise possessed by our product launch expert is valuable and should be shared with colleagues, as it is company-specific and gained through hands-on experience. To achieve this, you need to capture and make this knowledge accessible to the right people at the right times.

As an L&D professional or people manager, your role is to create formats and platforms that facilitate the capture and sharing of such valuable knowledge. Silos should be avoided, and the auditing of skills and proficiency becomes essential in ensuring that valuable expertise is not trapped within the organization.

Furthermore, if social learning is part of your upskilling approach, being an excellent listener and relationship builder is important. This enables you to identify the challenges employees face, the skills they require, and the appropriate moments to connect them with internal learning opportunities. By actively engaging and fostering relationships, you can enhance the effectiveness of the upskilling process.

Incorporate mentoring and coaching

In a similar vein, you may consider pairing two employees together for an extended period to facilitate knowledge transfer. Providing access to knowledge is one thing, but having a skilled colleague guide others through the journey of acquiring new skills is even more valuable.

Let’s say that one of the major challenges your team faces is converting leads into closed deals. You have enough leads coming in, but during the sales process, potential clients drop off before finalizing the deal. In this case, your subject matter expert and top deal closer can play a pivotal role in helping others master this skill.

This process could involve various steps, such as introducing them to the theory behind effective deal-closing strategies, allowing them to shadow calls and observe how deals are closed, conducting mock client meetings to practice their skills, and troubleshooting with them as they handle real-life challenges on the job. This hands-on and personalized approach can greatly enhance their proficiency in deal-closing and contribute to the overall upskilling efforts of your team.

Create low-stress practice environments

Whether through mentoring or other means, creating practice environments can be a highly effective way to ease the pressure of developing new skills. Take KFC, for instance, which utilized virtual reality restaurants to train its chefs, recognizing that providing a less stressful kitchen environment for practice can lead to better skill development.

While not everyone needs a VR game and headsets, the underlying principle holds true. Striking a balance between learning theory and practical application is important, particularly in roles that involve interactions with people. It’s essential to avoid situations where employees learn about crisis management one day and then immediately face a full-blown customer meltdown the next. Similarly, developing compassionate leadership skills during challenging times in one-on-one settings can be daunting.

To address this, consider incorporating practice pitches, self-tests, and low-pressure scenarios to assess proficiency. By offering opportunities for individuals to practice and build confidence before diving into high-pressure situations, you empower them to be better prepared for real-life challenges. This approach ensures a smoother transition between skill development and on-the-job application, ultimately leading to more effective upskilling outcomes.

Offer microlearning and short-form content

Not only is brevity often the essence of wit, but it’s also precisely what people crave when they urgently need to learn something new! When you’re trying to develop a skill on the job or during client interactions, you don’t require a lengthy course or a colleague to help them; you need immediate guidance that you can quickly digest and apply.

This is where microlearning comes into play in the realm of upskilling. Let’s revisit the crisis management example. During a customer call when the system suddenly crashes, your response time and quality are important. In such a high-pressure situation, you don’t have time to delve into lengthy PDFs or wait for a colleague’s response. What you need is instant access to concise, step-by-step guidance on handling system failures.

If you can search your knowledge base and find a short-form resource that precisely addresses the issue at hand, you can effectively manage the crisis and perform better. Having access to microlearning resources allows you to quickly learn and apply the necessary skills in real time, leading to positive experiences and successful skill development. On the contrary, struggling through the situation without immediate and concise support could have a detrimental impact on customer interaction and your overall performance.

Provide access to on-demand content

When it comes to learning, each of us has our own unique preferences and styles. Some are early birds, while others are night owls; some prefer learning on mobile devices, while others are more comfortable with desktop studying. However, a common frustration in many companies is the lack of on-demand content. How can we effectively upskill employees if they can’t access the information they need at the moment they need it?

While there is a significant emphasis on providing the right content, the medium is often overlooked. As we discussed earlier, it is vital that people can readily access the resources they require on demand. For instance, if you host monthly live sessions on important topics, consider uploading the recordings for employees to watch at their convenience. Enhance the user experience by adding timestamps for each issue discussed, allowing employees to navigate directly to the relevant sections. Additionally, include a comments section to promote social learning and encourage interaction among learners.

 

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Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

The Information Technology Infrastructure Library (ITIL) is a widely recognized framework for IT service management. It offers a comprehensive set of best practices that provide practical and proven guidance for leveraging IT as a business tool. By following the ITIL framework, individuals and organizations can support digital transformation, facilitate service delivery, and drive overall growth.

To successfully adopt the ITIL framework, organizations need to secure corporate buy-in, designate project leads, and allocate funds for certification.

Implementing ITIL ensures that IT services align with business strategies and core processes, enabling organizations to maximize the value of IT and effectively meet the needs of users and customers. The framework incorporates best practices from both the private and public sectors, establishing a common terminology for IT services and operations

Starting with ITIL publications

ITIL, maintained by Axelos—a joint venture between the United Kingdom and Capita PLC—is a widely accepted framework in the field of IT service management. Its recognition has led to its mapping in ISO 20000-11:2015, the first mapping of its kind approved by the International Organization for Standardization.

Axelos is currently transitioning from ITIL version 3 to version 4. Version 3 comprises five core publications: ITIL Service Strategy, ITIL Service Design, ITIL Service Transition, ITIL Service Operation, and ITIL Continual Service Improvement.

These publications cover the entire ITIL service lifecycle and provide a cohesive set of best practices that address various topics, including incident response, service fulfillment, operations control, financial frameworks, and change management.

In 2019, Axelos released the first publication of version 4, titled ITIL Foundation, with subsequent guides scheduled for publication throughout 2020. ITIL version 4 introduces an IT operations model for delivering products and services while playing a role in the broader business strategy. It builds upon the previous ITIL publications and emphasizes value co-creation through a service value system, which promotes collaboration among different departments to deliver IT products and support.

Adopting ITIL

Adopting the ITIL framework can yield several benefits, including improved productivity, enhanced service delivery, increased customer satisfaction, cost reduction, and decreased help desk calls. While strict adherence to the framework is not mandatory, organizations can embrace ITIL’s best practices in a manner that aligns with their specific needs.

IT teams should first identify the specific problems they aim to address and establish their adoption goals for ITIL. It is crucial to consider the overall priorities and business strategies of the organization during this process. Based on this information, administrators can determine the necessary steps and resources required to achieve their goals, selectively adopting practices that align with their organization’s unique circumstances.

IT managers play a crucial role in determining the level of administrative expertise necessary for a successful ITIL implementation. They must decide whether to provide training to existing staff, hire new personnel, or engage external consultants. The organization needs to ensure that qualified individuals are available to guide the effort, which naturally leads to discussions about ITIL training and certification.

Certifying IT staff for ITIL

Axelos oversees a comprehensive certification program for ITIL, consisting of various qualifications that cover different aspects of the ITIL framework. The ITIL v3 program comprises five certification levels: Foundation, Practitioner, Intermediate, Expert, and Master.

The ITIL v4 program introduces four certification levels: Foundation (currently available), ITIL 4 Managing Professional, ITIL 4 Strategic Leader, and Master.

Each certification level has specific requirements, which may include passing an exam, completing approved training, acquiring a minimum number of years of field experience, or a combination thereof. Admins preparing for ITIL exams can enroll in courses offered by accredited training facilities.

To ensure quality education, the teaching facility must be affiliated with the Strategic Accredited Training Organizations group, which comprises certified Axelos partners providing training and consulting services. However, it’s worth noting that two certification levels, Foundation and Practitioner, do not mandate attendance at an accredited class, although Axelos strongly recommends it.

Preparing for organizational changes

Implementing ITIL requires providing in-house training and education to properly prepare the IT staff for upcoming process changes. Effective communication and fostering collaboration are vital during this process. Obtaining support from upper management and key stakeholders is also crucial to ensure everyone is committed to the transition. IT teams must be ready to embrace a new way of working, especially if the desired ITIL framework includes DevOps or Agile methodologies.

IT teams should assess their existing service and automation tools and determine if additional software is necessary. ITIL-friendly tools focus on automating routine tasks and repetitive processes to streamline operations and minimize the risk of human error. For instance, ManageEngine’s ServiceDesk Plus offers a help desk and asset management solution that incorporates ITIL best practices.

While moving forward with ITIL, IT teams should understand that the framework does not dictate how to implement best practices in a prescriptive manner. Since each organization is unique, there may be specific implementation needs related to cost, personnel, or software considerations. IT teams must identify what works best for their specific circumstances, seek guidance when appropriate, and recognize that their journey to ITIL will involve individual components but is well worth the effort.

 

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Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

As the demand for new capabilities continues to accelerate, reskilling and upskilling present opportunities for organizations to develop the necessary skills to stay competitive. According to projections by the Forum, by 2025, up to 85 million jobs could be displaced by changes in the division of labor between humans and machines. However, this also opens up the potential for 97 million new roles to be created, driven by technological advancements and ongoing digital transformation. Even for those who can remain in their current roles, it is expected that 40% of core skills will need to change. This highlights the urgent need for reskilling and upskilling in every job, department, and company. With significant changes on the horizon by 2025, the time to start is now.

In this discussion, we will explore the distinctions between reskilling and upskilling and how these approaches can better equip your organization to navigate future industry changes.

Reskilling vs. Upskilling

As defined by the Cambridge Dictionary:

• Upskilling refers to the acquisition of new skills or the act of providing workers with new skills.
• Reskilling refers to the acquisition of new skills in order to perform a different job or the training of individuals for a different job role.

Reskilling involves identifying individuals with “adjacent skills” that closely align with the new skills needed by your company. It offers a sideways learning experience that can facilitate the extensive reskilling necessary for employees in today’s workforce. The World Economic Forum predicts that by 2025, half of all employees will need to undergo reskilling to keep up with technological advancements.

On the contrary, a culture of upskilling focuses on equipping employees with new and advanced skills to bridge talent gaps. It entails actively involving team members in ongoing education and supporting their progress along their career trajectory. These employees, who may have been with your organization for a considerable time, have a deep understanding of your company’s culture and customers. According to LinkedIn Learning, when companies make substantial investments in their employees’ career development, up to 94% of workers express a preference to stay with the organization for a longer duration.

Although the majority of organizations recognize the potential of workforce development programs in bridging the skills gap, many are hesitant to take immediate action due to financial limitations and the absence of appropriate technology to support internal initiatives. However, failing to act promptly jeopardizes your company’s long-term goals, as the absence of necessary skills can hinder your ability to meet those objectives.

“What’s the solution? Let’s explore career pathing” 

Implementing structured career pathing is one of the most effective methods to incorporate reskilling and upskilling in your organization. Career pathing entails employees mapping out their personal career development journey. By creating a career pathing program, you can align your employees’ career aspirations with your organization’s business objectives, thereby integrating reskilling and upskilling strategies into your business.

Successful career pathing strategies are based on a competency-based approach. This allows your organization to evaluate and assess the specific competencies necessary for each unique role, as well as understand the skills development required for employees transitioning into new positions.

A career path is unique to each individual employee and assists them in breaking down the necessary steps to achieve their long-term career goals, whether through lateral moves or promotions. It requires an understanding of the knowledge, skills, and personal attributes needed, helping identify the specialized skills and additional training necessary to fulfill their aspirations.

The Benefits of Career Pathing

Implementing career pathing within your organization offers several benefits, such as:

• Meeting Future Demand: By identifying the existing capabilities, you can focus on developing key skills in your current workforce to meet future demand.
• Identify Hidden Skills: Career pathing enables employees to evaluate and analyze their own skills, uncovering untapped potential that the organization may not be aware of.
• Create a Culture of Talent Mobility: In today’s competitive talent landscape, employees seek employers who prioritize their long-term career development. Implementing a career pathing strategy not only attracts top talent to your organization but also enhances employee motivation and retention. By enabling internal mobility, both horizontally and vertically, career pathing visibly showcases your organization’s commitment to its workforce.

In the face of rapid digital transformation, an effective career pathing strategy that incorporates reskilling and upskilling is crucial for both employees and HR. It is imperative for your organization to prioritize talent development in order to stay ahead in the evolving skills market.

 

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Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com

In the workplace, upskilling involves fostering a culture of continuous learning through providing training and development opportunities to enhance the skills, knowledge, and competencies of your existing employees. Upskilling not only enables your team to gain expertise and advance their personal and professional growth, but also boosts employee engagement, satisfaction, and performance, all of which are crucial for the future success of your business.

Penn LPS Online offers an Ivy League Upskill Certificate program consisting of four courses specifically designed for working adults. This program enables individuals to develop in-demand professional skill sets in a format that accommodates their work and family commitments. One of the many valuable outcomes of this program is the ability to apply critical thinking skills in the workplace, leverage empathetic skills to consider different perspectives and utilize rhetorical strategies for effective written and verbal communication.

7 Benefits of Upskilling Your Employees

1. Increase employee retention

Retaining talented employees is crucial, and it’s important to recognize that if you’re not willing to invest in your team’s career development, you risk losing them to organizations that prioritize such investments. When employees are not given the chance to learn, grow, and progress, they struggle to envision a future with your company.

However, by investing in upskilling initiatives, you not only enhance the value of your employees to your business but also demonstrate your commitment to providing opportunities for advancement. To improve employee retention, it’s essential to show that you care about their goals and are eager to support their career development as a trusted ally.

2. Fill skill gaps within your company

In today’s job market, there exists a disparity between vacant positions that require new skills and the availability of qualified candidates to fill them. To bridge this gap, many leading corporations are dedicating substantial resources to upskilling programs that prioritize customer satisfaction and the training and development of their workforce. Key competencies that companies seek to cultivate in their employees include leadership, teamwork, critical thinking, communication, and data analysis.

Given this context, it is prudent to invest in addressing skills gaps within your organization by providing your workforce with the opportunity to earn an Upskill Certificate, rather than investing valuable time and resources in hiring new employees. This approach benefits everyone involved by demonstrating appreciation for employees and enhancing their prospects for internal advancement.

3. Avoid the Costs of Hiring New Staff

When employees depart from your business, the expenses associated with replacing them can significantly impact your budget, which could be allocated more effectively elsewhere. The costs of recruiting, screening, training, salary, and benefits, as well as the process of integrating new team members into your company and its culture, all contribute to the financial burden of hiring new staff.

According to a recent study by Training Magazine, companies invested $92.3 billion and an average of 64 hours per employee on training in 2020-21. It can take several months for your organization to recoup its investment after hiring a new employee. That’s why it is more prudent to invest in upskilling programs that leverage the strengths and capabilities of your current employees, reducing the likelihood of losing valuable talent that you already possess.

4. Create and Encourage a Culture of Learning

In the current challenging labor market, it is crucial to foster a supportive culture of learning within your company. By prioritizing upskilling, you demonstrate to your employees that you encourage and value continuous learning and personal growth, which can help mitigate turnover. Identifying the most effective training programs for your business may require some trial and error. It is advisable to seek input from your team regarding the knowledge and skills they are interested in developing. The more you can tailor the learning experience and content to their needs, the better. Including courses that focus on practical, immediately applicable skills—such as those offered in the Upskill Certificate Online—can help engage your workforce and inspire them to make the most of their learning journey.

Additionally, implementing mentoring programs can be an excellent way to assist team members in identifying new areas of specialization and gaining valuable insights on how to take actionable steps toward pursuing them.

5. Gain a Competitive Advantage

The skills and knowledge of your employees can provide your company with a competitive advantage, positioning you as a leader in the market and enabling you to outperform your competitors. When employees depart from your organization, they take their valuable abilities and experience with them to another company. That is why it is crucial to ensure that each member of your team is content in their respective roles and strongly believes in your organization’s mission. Satisfied employees not only perform better in their work, but their efforts can also contribute to increased customer satisfaction and loyalty. Upskilling plays a vital role in keeping your employees up to date with the latest industry needs and trends, empowering them to be proactive in offering fresh insights and identifying market opportunities that ultimately benefit your clients. When your clients are satisfied and share a belief in your organization’s mission, they are more likely to refer valuable connections your way.

6. Attract New Talent

Upskilling not only serves as a valuable tool for retaining your existing workforce, but it also plays a significant role in attracting new talent. Research conducted by SHRM reveals that 83% of human resource professionals face challenges in recruiting suitable candidates for job openings. The COVID-19 pandemic prompted many individuals to reflect on their careers and reevaluate their job preferences and expectations from employers. Offering competitive salaries and benefits alone may not be sufficient to attract top-tier talent.

Today’s employees often seek increased flexibility and autonomy, such as hybrid or remote work options, as well as a company culture that embraces diversity, fosters a growth mindset, and provides career development opportunities. To attract candidates who possess not only the necessary qualifications but also ambition and a willingness to learn, it is advisable to highlight your organization’s training initiatives and opportunities during the recruiting and hiring process.

7. Enhance Employee Motivation, Satisfaction, and Productivity

What leader wouldn’t seize the opportunity to boost morale and job performance? Employees who have access to training and development opportunities are more likely to find satisfaction in their roles and maintain a positive outlook on their future within your company.

While it is undeniable that salary and benefits play a motivating role, if you truly want to engage and inspire your workforce in a meaningful way, it is worth considering strategies that make your team members feel that their work is meaningful, that they have autonomy, and that there are opportunities for growth within the organization. By offering employees the chance to upskill, you can demonstrate their value, foster loyalty, and ultimately witness an increase in productivity that positively impacts your bottom line.

Why you should consider upskilling

They’ve discussed the numerous benefits of upskilling your workforce, but it is equally important to consider upskilling yourself to stay at the forefront of your field. By prioritizing career readiness, the Upskill Certificate program at Penn LPS Online offers a personalized approach, allowing you to select courses that align with your individual professional development goals.

Whether you aim to enhance your competitiveness in the job market or feel the need to update or broaden your skill set, this program provides opportunities to improve your communication, leadership, and problem-solving abilities. With the convenience of flexible online courses, you can achieve all of this from the comfort of your own home, on a schedule that suits you, and without the burden of commuting.

 

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Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com