Employee Upskilling and Reskilling Training with Levelup LMS

How Does Levelup Help in Upskilling and Reskilling Your Employees?

How Does Levelup Help in Upskilling and Reskilling Your Employees - Evolvous

How Does Levelup Help in Upskilling and Reskilling Your Employees? 

Our workplace is evolving faster than ever, and key skills that we are acquiring on a regular basis are becoming outdated fast. Upskilling and reskilling are two of the most robust strategies that can help companies enhance their employee’s skills and enable them to take on more responsibilities or move into new roles. By pursuing these two strategies, you are boosting your employee’s satisfaction and retention rates, ensuring you maintain a competitive edge over your competitors in the industry. In the present scenario, 93% of CEOs who have pursued upskilling programs see increased productivity. 

Now let us first discuss these two key terms Employee Upskilling and Reskilling

Upskilling: It basically means to teach employees advanced skills to maximize their efficiency in their current role, so that they can evolve according to market trends. This helps employees to improve their performance without changing their career path, by bridging skill gaps to stay competitive. 

Reskilling: it mainly focuses on teaching new skills required for a new role. This will help employees to transition into different roles within the company or another company, allowing them to adjust to their career path. 

How Levelup can help you in upskilling and reskilling your employees and what are the benefits of these two strategies.  

  • Helps in boosting employee satisfaction: 

According to a study by Will Tower Watson, almost 70% of employees leave their job when they see no future in skills development in their current job. Employees may feel insecure about not being valued, and they may exit the company. As a result, companies fail to retain their top talents. 

Upskilling and reskilling are great ways to show employees that you care about their progress by providing them with skill development, a better working environment, and most importantly, work-life balance. This way, you can help them see their future growth and improve job satisfaction.  

  • Enhance return on investment (ROI): 

Who does not like getting maximum profit for what they have invested? Probably, none. Upskilling and reskilling can help you achieve financial returns for your business. In a study, 66% of employers got a financial return within a year by upskilling and reskilling their employees. Furthermore, you can eliminate spending extra money and time on hiring new employees. You can save extra cost on onboarding training and screening candidates and spend carefully on relevant trainings. 

Read our other blogs: Top 8 advantages of Leveraging LMS in 2023 for remote employee training 

  • Lowers employee turnover: 

Employees lose their confidence if they feel their abilities have not been properly trained, which can affect their performance, resulting in employee turnover. Upskilling and reskilling can help your employees by offering them relevant training and learning opportunities, which enhance their personal growth and job satisfaction. 

Upskilling and reskilling also help in filling skill gaps and upholding professional standards at work relevant to employee’s specific skills, which vary from person to person. This makes employees feel confident and empowered, resulting in better productivity and, ultimately a longer stay with the company. 

  • Reduce training and recruitment cost:

Training and recruitment of new employees are another major expense spend by a company. By upskilling and reskilling your existing employees, you can avoid unnecessary expenses on hiring new talent, which can be costly and time-consuming. This not only helps to fill the skill gaps but also enhances employee’s performance, resulting in a more efficient and effective workforce that requires less training overall. Not to mention, it is more worthwhile investing in existing experienced employees rather than to spend on new talents. 

Read our other blog: 5 Reasons You Should Switch to a Cloud LMS Software 

  • Bridge skill gaps in employees:

Today every sector is evolving at very high pace and needs to adapt the trending skills and knowledge. By pursuing upskilling and reskilling, you can easily fill theses skill gaps and ensure that your employees are well armed with necessary skills required to meet your organization goals. By filling these bridge gaps, you not only improve your employee’s overall performance and efficiency but also creates agile and adaptable workforce capable of responding rapidly to changes in the business landscape. 

  • Enhanced reputation of the brand: 

As mentioned earlier, employees exist in their current job when they see no future professional growth. When you invest in your employee’s growth by providing necessary training, you are building a good reputation, which shows that you are investing in their success. This way, you can improve your brand reputation and attract and retain top talent who are looking to enhance their skills and advance their careers. Upskilling and reskilling can enhance your productivity, ultimately lead to better customer experiences, and contribute to the success of your organization. 

 Read our other blog: Benefits of Using Learning Management Systems 

  • Adapt to new technologies: 

In this advanced digital era where businesses are constantly evolving, you need to provide your employees with new skills to stay up to date with the latest tools and software. By pursuing upskilling and reskilling, you can help your employees to adapt to new technologies and use them to their fullest potential. This way you can be innovative and stay ahead of your competitors. 

Upskilling Reskilling Employees Conclusion:

By now, you might have a clear idea of how upskilling reskilling employees are beneficial for your organization. By investing in these strategies, you can improve talent retention, reduce recruitment and training costs, enhance their brand reputation, as well as improve ROI in your workplace. 

Levelup is one of Canada’s leading learning management system providers to support your upskilling and reskilling initiatives to boost the overall skillset of your workforce. We offer a flexible and effective upskilling and reskilling program that allows you to bring in specially trained professionals to meet new demands or challenges. 

Check out our consultant services or get in touch for more information! 

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