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16th Jan, 2024

Craig Lewis
Author
Craig Lewis
Job Title
Senior Content Writer

A lack of workers equipped with the skills they need is restricting growth in businesses across the country – but there is a solution.  

Organisations can futureproof their talent acquisition strategy by upskilling and reskilling their workforces.  

Our survey of 1,000 hiring managers, conducted in June last year, found 77% believed it was either very, or somewhat likely, that a lack of access to workers equipped with the skill sets they need will restrict growth within their businesses in the next three years.

It also revealed 80% think there is a significant gap between the skills held by their workforce and those needed to meet their business goals.  

But by adopting upskilling and reskilling as core strategies within your organisation, you can plot a course towards greater retention, higher employee satisfaction, and more potential for growth. 

Reed Talent Solutions’ tech and digital skills programmes provide upskilling and reskilling solutions which prepare employees to handle technological changes and ensure they can adapt to new tools and processes. 

Whether you are looking to utilise your apprenticeship levy in new ways or quickly access tailor-made courses for your workforce, Reed Talent Solutions can develop the right tech and digital skills solutions for your business. 

Our upskilling and reskilling solutions include: 

  • Industry-relevant courses to allow you to equip your team with the latest tech and digital skills through our comprehensive curriculum. From coding and data analysis to AI and machine learning, we have got you covered. 

  • Expert instructors who bring real-world experience from industry to the classroom. 

  • Flexible learning options, allowing you to choose from online, on-site or hybrid learning formats to suit your business needs. 

By upskilling and reskilling your workforce, you will: 

  • Retain talent: Employees appreciate growth opportunities. Upskilling and reskilling programmes help retain talent by offering career mobility within your organisation. 

  • Ensure agility: Technical skills can become obsolete quickly in todays’ rapidly developing world. Our tech and digital upskilling and reskilling programmes ensure your workforce stays relevant and adaptable to emerging technologies. 

  • Innovation: Tech and digital skills programmes encourage creativity and innovation. Upskilling and reskilling allow employees to learn how to think critically, solve problems, and explore new ways of doing things. 

  • Increased productivity: Skilled employees contribute more effectively, leading to improvements in productivity. 

  • Enhanced reputation: Organisations which invest in people demonstrate commitment to employee development, enhancing their reputation and improving retention. 

Defining upskilling and reskilling 

What is upskilling? 

Upskilling is the provision of training programmes and development opportunities. The aim of these programmes is to improve and expand the skillsets of employees, allowing them to advance in their job roles or to move on within an organisation. 

Workforce upskilling can be delivered via apprenticeships, courses and mentorships.  

What is reskilling?  

Reskilling or reskill training sees employees learn new skills which are currently outside of their existing roles. By reskilling employees, organisations allow them to set out on a different career path or to make a significant change in their role.  

What's the difference between upskilling and reskilling?  

While they are similar, it is important to notice the difference between upskilling and reskilling. Which strategy an organisation chooses to follow will be dependent on its business and staffing needs. 

Both upskilling and reskilling allow employees to expand their skillsets, but the end goals are different. 

Upskilling helps employees progress within their roles or in a specific area of an organisation. Conversely, reskilling is focused on lateral movement of employees within a company and will often result in people moving to a new position within their organisation.  

Integrating digital skills through upskilling 

The role of digital skills in modern workplaces 

Demand for new skills is accelerating, whether that be due to the influx of new technology or increased levels of hybrid and remote working meaning employees need to develop their digital skills. 

Digital upskilling prepares employees for any technological changes, ensuring they are able to adapt to changing tools and processes. 

We can enable organisations to access multiple routes to engage and develop diverse tech talent, supporting them to overcome tech and digital skills gaps by investing in workforce development through tailored reskilling and upskilling programmes.  

Impact on corporate culture 

Upskilling and reskilling initiatives can have a huge effect on an organisation, bridging any digital divide which may exist within it - making it more competitive as a result. 

By doing so, these programmes foster a learning environment, transforming a businesses’ culture and enhancing engagement and employee satisfaction levels. This will help create loyalty and talent retention, with staff aware that their company is investing in their future. 

An organisation which offers continuous upskilling and reskilling opportunities will also benefit from an enhanced corporate reputation, while also encouraging a dynamic business culture due to an environment of constant evolution.  

Measuring the success of upskilling and reskilling 

Upskilling and reskilling has measurable benefits for both employers and employees, resulting in increased retention of talent, reduced recruitment costs, improved brand recognition and reputation, and a reduction in skills gaps. 

Employees who receive upskilling and reskilling training are able to take advantage of clear career paths, which boosts their long-term motivation. Investing in employee development then provides teams with the skills and knowledge to succeed. 

Research by Reed Talent Solutions demonstrated the need for upskilling and reskilling training, showing almost 80% of hiring managers believe there is a significant gap between the skills held by their workforce and those needed to meet their business goals. 

And analysis from Deloitte revealed that organisations which are skills-based are 107% more likely to place talent effectively, 98% more likely to have a reputation as a great place to grow and develop, and 98% more likely to retain high performers.  

To learn more about our future skills solutions visit the dedicated page on our website.    

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