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The ongoing COVID-19 pandemic and the recent outbreak of Monkeypox are radically transforming the way global companies operate and the employees’ work. This ever-evolving work culture prioritizes the need for engaged, productive and skilled employees who can enhance your business productivity and ROI. As reported by GoRemotely, happy, engaged, and motivated employees will be more productive at the workplace, resulting in a 21% rise in the organization’s ROI. A common discussion in HR departments is, “What are the best ways to build a productive, efficient, and flexible team?” Moreover, a separate report by INC states that over 4.5 million US citizens are quitting their companies in March 2022 alone, resulting to another season of ‘'Great Resignation'.

Driven by a stabilizing economy and a wish for a more flexible workplace that prioritizes career development opportunities, employees are re-examining their jobs in record numbers. The corporate world is struggling to retain its best-fit talents. As a result of these endless disruptions and the rapid development of technology, training employees has become quite challenging.  

Consequently, HR leaders around the world have started investing their time and money in upskilling and reskilling their employees. In this blog post, we will explain the terms upskilling and reskilling and why investing in upskilling and reskilling of employees is more crucial than ever.

Difference Between Upskilling and Reskilling

In recent years, you've probably heard these words quite a bit - but what are they? Here's what you need to know.

Defining Upskilling‍

Upskilling can be defined as the process of learning new skills to improve the overall skill set. Upskilling often happens within companies. Companies often prefer to provide advanced training to their employees, which will help them to learn new skills. When employees receive good workplace training, it will motivate them and give them an opportunity to progress in their careers and bring huge benefits to the company. In short, upskilling is all about enhancing one's career.

Defining Reskilling

Reskilling is all about training employees in new skills to prepare them for different positions within the same company. It is possible for them to continue their education in order to acquire the skills needed to enter into a completely different field than what they were previously engaged in. Similar to upskilling, reskilling also takes place within the workplace. If a job has become redundant or the employee’s skill set is better suited to a different position, the employer might wish to retrain the employee.

What Makes Employee Upskilling And Reskilling Crucial?

Today, there is an urgent need to reevaluate which strategies can be effective in a climate where the health crisis has greatly altered. Clearly, resilient organizations must have highly adaptable employees, and swiftly upskilling and reskilling employees is an effective solution to meet this need. For several reasons, employees must upskill and reskill to thrive in today's business environment.  

1. Changing workplace and workforce
   
   Ever since the pandemic outbreak, everyone in the world has had to accept the new standard of remote and hybrid work, fundamentally altering how we operate. Many of us are now required to work from our living rooms after attending meetings in our office cubicles. There has been a general change in the workplace. The company will teach its staff so that no one feels left out. They will have the chance to learn new skills and be able to deal with the uncertainties of the workplace. A company will keep its best employees if it offers flexible career growth possibilities.
   
2. Technological advancements
   
   Upskilling and reskilling are essential in a world where technology and skills are constantly evolving and changing. The pandemic demonstrates how businesses use cutting-edge technology to thrive, adapt, and endure in a constantly changing environment. Thus, it's essential to teach your employees about the newest technology.
   
3. Enhance employee retention
   
   Employees will not choose to stay with a company if they believe that the organization is unwilling to engage in employee development. They are constantly searching for a better company that values its employees' professional growth. Reskilling or upskilling employees builds a culture of learning within a business that motivates them to stick with it for a very long period.
   
4. Boost employee productivity and job satisfaction
   
   Enhancing employee productivity is every company's main objective. When a business invests in its employees' upskilling or reskilling, it will enable them to execute their jobs well, comprehend client needs, and provide services.
   
5. Improve organizational ROI
   
   Employees feel valued when you successfully create a modern workplace that makes investments in their professional growth. By fostering an environment of continuous learning, employees will be more engaged, perform better, and feel more loyal to the company. They frequently excel at their jobs. A higher organizational ROI will ultimately come from this.
   

How Can Microlearning Tools Help You?

A key tactic for bridging skills gaps and making sure your employees are well-equipped to contribute to your company's goals are: investing in employee upskilling and reskilling. Therefore, businesses must spend money on solutions that offer employees seamless training and growth. Employee training has been entirely transformed by modern ai-powered service desk solutions like Rezolve.ai, which offers cutting-edge AI-powered microlearning systems.

‍Morsel.ai - a conversational microlearning tool of Rezolve.ai is integrated with collaborative channels such as Microsoft Teams and Slack - is geared toward empowering workforces by providing them with quick access to pertinent knowledge. Employees used to be required to attend lengthy, traditional classroom training courses led by tutors that lasted for hours. After a while, employees found it difficult to remember what they had learned and to answer their questions.

Employees no longer have to spend hours studying new technologies or other training modules- all thanks to next-generation microlearning tools. They permit employees to participate in training that is delivered in multi-media forms, such as 5 to 10-minute-long images, GIFs, videos, games, and quizzes. Employees are neither boring nor worn out because the contents are in bite-sized chunks. Employees can pick up new abilities quickly and effectively with this training approach. Moreover, employees have fast access to both training and assistance.

Employees can contact a smart chatbot if they have questions or concerns about the training sessions. The conversational chatbot offers employees individualized support within 10 –15 seconds. Employees can quickly contact a dedicated live agent for the second level of help if they are unsatisfied with the bot’s response.

‍Read More: Conversational Microlearning For Professional Training And Development

Conclusion: Microlearning For Seamless Employee Training

Microlearning is a smart strategy that enables the business sector to reskill and upskill its workers with quick and to-the-point learning modules. A flexible and agile learning culture must be developed to support the expanding remote work culture. HR professionals can do this by including a microlearning approach into career development initiatives. Morsel.ai and other conversational microlearning platforms are effective strategies for upskilling and reskilling the workforce since they keep employees interested and productive.

‍Want to Know More about Morsel.ai? Book a Meeting Today

FAQs

What is the difference between reskilling and upskilling?

In order to perform a different job or take on new organizational responsibilities, one must reskill—acquire new skills or knowledge. On the other hand, upskilling concentrates on improving current skills to remain relevant and meet the shifting demands of the current job or industry.

Why is reskilling and upskilling important for employees? Reskilling and upskilling are essential for employees because:

1. Career advancement
   Developing or improving new skills can lead to more job opportunities and organizational advancement.
2. Adaptation to change
   Employees can stay flexible and adaptable in the face of technological advancements, industry changes, and shifting job requirements by reskilling and upskilling.
3. Increased employability
   Employees who constantly learn and develop their skills have a higher chance of finding employment and being more marketable.

How can organizations benefit from reskilling and upskilling their workforce? 

Organizations can benefit from reskilling and upskilling their workforce in several ways:

1. Talent retention
   Through reskilling and upskilling programs, employers can increase employee loyalty and retention while lowering turnover by offering opportunities for growth and development.
2. Elevate employee productivity
   Employees with current skills are more effective and productive in their jobs, improving the entire organization's performance.
3. Future-proofing the workforce 
   Organizations can build a workforce that can adapt to changing technologies and market trends through reskilling and upskilling, ensuring long-term competitiveness.

How can organizations identify reskilling and upskilling needs within their workforce? 

Organizations can identify reskilling and upskilling needs by:

1. Conducting skills gap assessments
2. Monitoring industry trends
3. Soliciting employee input

What are some effective methods for reskilling and upskilling employees?

1. Training programs
2. Online learning platforms
3. Job rotations and shadowing.
4. Mentoring and coaching