We live in a complex era of rapid socio-economic change. On the technology front, companies are forced to constantly adapt in order to remain competitive. In this context, investing in skills development has become essential to ensure the long-term success of organizations.
Upskilling and Reskilling: understanding the difference to drive change
Understanding the difference between upskilling and reskilling is critical to directing change within organizations.
Upskilling is about enhancing employees’ existing skills, enabling them to stay abreast of new technologies and industry best practices. It is a process of continuous upgrading that aims to improve skills and effectiveness on the job.
Reskilling, on the other hand, involves the acquisition of new skills to perform roles different from those currently held. It is a broader process, requiring employees to completely learn new skills to adapt to different work contexts or industries.
Impacts of Digital Transformation and Artificial Intelligence Require New Skills
The world of work is undergoing an unprecedented transformation driven by digitization, automation, and globalization of markets. Emerging technologies such as artificial intelligence, the Internet of Things (IOT) and robotics are radically changing the way we work and require a new set of technical and soft skills.
These changes are highlighting the need for continuous upgrading. A look at the data and outlook shows that nearly one-third of jobs around the world will soon be transformed thanks to technological advances. This is confirmed by the World Economic Forum (EWF)*, which pointed out that by 2030, in Italy alone, we will need to retrain more than 1 million professionals.
On the horizon, therefore, is a real skills emergency.
Upskilling and reskilling: what benefits for companies
Investing in upskilling and reskilling can provide companies with countless benefits. In particular, when people are properly trained to take full advantage of new technologies and methodologies, it paves the way for increased productivity and efficiency, creating an environment conducive toinnovation and increased market competitiveness.
At the same time, retention and talent attraction also benefit, as a company that invests in employees and engages in their professional development promotes a positive and stimulating work environment. This not only fosters individual growth, but also the collective success of the organization, thus helping to retain key talent and attract new talent.
The benefits of continuing education
By acquiring new skills, people strengthen their employability and increase opportunities for career advancement and personal growth, ensuring greater professional security. At the same time, the opportunity to develop skills applicable in different work areas promotes psychological satisfaction and well-being.
Moreover, the opportunity to try out new roles is an exciting time of growth for workers, especially younger workers, who can expand their skill set and develop broader career prospects.
How to incentivize Upskilling and Reskilling
Implementing upskilling and reskilling programs requires a judicious and well-planned strategy.
The first step for companies is to identify the skills they need to remain competitive in their target market, and then develop training plans aimed at acquiring them, up to and including attending conferences and wokshops to consolidate them.
An effective tool for facilitating the transfer of skills needed to stay ahead of innovation is reverse mentoring, a process in which younger employees with specific skills in emerging fields guide and instruct older or less experienced colleagues.
This approach not only allows for the rapid dissemination of new knowledge within the organization, but also encourages a mutual exchange of knowledge and perspectives, fostering the development of a climate of collaboration and continuous learning.
Investments in upskilling and reskilling require widespread commitment from the entire organization to understand their strategic relevance, as it is with everyone’s cooperation that positive results are achieved.
Companies and employees who embrace change and engage in continuous learning will be better positioned to meet the challenges and take advantage of the opportunities the future holds.
Investing in people skills, then, is not only a necessity but also a real opportunity to grow and thrive in an ever-changing world.
