Upskilling Vs. Reskilling: Delivering the Training Your Organization Needs to Succeed Today & Tomorr  

12 November 2019:

The global workforce landscape is changing so quickly and there is a severe shortage of qualified talent in the pipeline to meet the workforce needs in the ever-expanding digital economy.

Organizations big and small are struggling to find the solution to this growing problem, both from inside and outside their companies. Many recent college graduates will quickly find out that the skills they left school with will not be the skills they need as technology continues to advance. The high cost of hiring and retraining their current workforce makes things even more difficult for organizations, but it is a path they must pursue.

“Train people well enough so they can leave, treat them well enough so they don’t want to,” says Richard Branson, founder of Virgin Atlantic.

So it’s no surprise that more than half of the companies that took part in a 2019 Upskilling Initiatives Survey, compiled for Raytheon Professional Services by Training Industry, Inc., say upskilling is a high and urgent priority.

Upskilling vs. Reskilling

Upskilling initiatives are different from traditional, ongoing corporate training programs. Upskilling training expands an employee’s competencies to meet future business needs and promotes career growth within the organization. These initiatives can be companywide or cover an entire function. Advances in learning methods and analytics are now available to help speed up these processes for the good of the employee, and these techniques help companies move people into new jobs where they will excel, or help them be more successful in their current job. All with the ultimate goal of ensuring the company remains competitive in its marketplace and continues to thrive.

Reskilling, as we see it, is a much broader societal issue around providing new skills, or employment opportunities, to members of the workforce whose skills no longer match those required by the current job market, or have become obsolete due to advancements in technology.

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Source: Raytheon Professional Services

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