Jesse Gold, eager for career growth, decided to take matters into his own hands, and, rather than wait for an employer to offer new training, he pursued upskilling independently.
“I believe that continually striving to develop skills and improve yourself is not only fulfilling, but a key way to differentiate yourself in a crowded job market,” he said, explaining that he self-funded a number of business and technical certifications.
Today, he is Director, Strategy and Transformation for UJA Federation of Greater Toronto. Previously, he held multiple roles in Rogers Business over the previous decade. “I believe that my certifications, collectively, showed that I was willing to think critically, but also put in the work,” he said.
In his career experience, he’s felt as though employers should contribute to employee satisfaction, growth and development, with “some sort of program that covers some or all of a training opportunity,” or a conference every year or two.
“While it would be great to have any and all training or certification covered, this is not realistic,” he said.
Yet, an unfortunate aspect of employer upskilling is that “generally, employers who provide such programs provide specific training on-premises, offering only certain courses or training that are deemed to support the company’s current goals,” rather than planning ahead for burgeoning technology.
Call it professional development, call it upskilling, the concept is virtually the same. This can mean courses, lunch and learns, conferences, mentoring, peer coaching, or self-learning. Today, many companies and organizations are proactively giving these kinds of learning opportunities to their staff as a matter of course.
Essential skills in in an ever-changing tech landscape
But what’s behind the trend? In the constantly evolving landscape of technology, the rise of automation, the digital world’s blink-of-an-eye changes, upskilling today has become less an option and more of a must-have for companies in order to keep up. In fact, more than 40% of skills will change over the next few years, says one study. No one – not employees or employers – wants to discover they’ve been a laggard, asleep at the switch, while other industries make them obsolete.
One report estimates that the most in-demand skill areas include big data, analytics, AI (in risk assessment or fraud detection), and machine learning. Still another report says cybersecurity, cloud and customer-user experience skills are “essential.”
New training has become increasingly non-negotiable for employees – to the extent that some are willing to walk away from a job if upskilling isn’t offered. About a fifth of employees in one study have reported leaving an organization because of a lack of development opportunities. In a Gallup study, nearly half said they would be willing to leave their current job for a new one that included skills training.
Upskilling is “one of the core values of all my companies because of several reasons. Our services are our people. So the more educated, the more qualified I make them, the better it is for my business,” noted Dr. Hasan Akram, serial entrepreneur and CEO of automotive software company Matrickz GmbH. “I’m training everyone in AI. It’s always on the top of our priority.”
While there is no formal program, he recognizes that several times a year there is a new innovation with AI. To maintain this knowledge in-house, he created The AI Squad – where employees are updated with new AI tools and technologies.
“And we are teaching them,” said Akram. “This is a constant process.”
What upskilling means for employers
On the employer end, the advantages are clear: an average of two-thirds see a return on investment within twelve months. Nine out of 10 CEOs who brought in upskilling opportunities reported subsequent increased productivity and better retention.
In addition to boosting employee engagement, there’s also a cost benefit to an organization: it obviates the need to hire new staff, and the expenses associated with it, such as advertising the position, time to vet the candidates, and onboarding.
“Too often, employers look outside for new recruits to fill new roles. Employers might realize that they are sitting on incredible talent within its organization that can be better deployed,” said Jake Levant, co-founder of online learning portal Salesclass.co.
His company creates upskilling programs where new immigrants can develop their existing skills to forge new careers in the high tech industry. “We don’t just theorize, we have lots of role play and practice. These are critiqued by co-learners and by professionals that coach those types of roles in industry,” he said.
The company has trained hundreds of people and seen a 70% placement rate in careers that have “incredible growth trajectories,” said Levant. On average, he added, graduates more than double their salary coming out of the program.
“The challenge to unleashing that talent is knowing people’s desires, matching with opportunities, and ensuring there are the right programs to help them upskill to fulfill those new roles.”
Gold, for his part, adds to this word of caution: Upskilling for upskilling’s sake is not a good idea. A critical point before even embarking a new learning journey is to know how or if the new skill will translate to the work environment, so as to ensure the entire exercise isn’t a waste of time.
“Regardless of what type of upskilling you’re looking to undertake, it is important to do the research, to understand what skills the market is looking for, and what skills or certifications people hold that have the job title you’re seeking,” said Gold.
“Being laser-focused in this way can help you hone in on what type of training, mentoring, coaching or support you need to successfully upskill.”
Offering new challenges
Still, one business leader feels differently.
Lauren Imparato, CMO of the all-female led impact investing group Delphos Capital, leads a staff of 120, and believes that there is a form of upskilling that doesn’t involve a formal course or training. Rather, it’s about immersing an employee in a new challenge.
“I always really keep my eye out for initiative – somebody that takes initiative and someone who thinks outside the box. If you take those two things together, they usually point to a prime candidate for upskilling, either in the type of role they do or role out of left field,” said the former Morgan Stanley Fixed Income Vice-President and founder of I.AM.YOU, a wellness company.
“I like to give the person a project. I often think these things like mentorship and courses can take so much time, and have so many steps to get through, that in that time the candidate can lose interest, or even move on to another job. So I start by giving the pinpointed person a project, and if that goes well, even if it is medium well, and they continue with that initiative, then we discuss next level training or a move of position. I’m a big believer in giving someone as much rope as they think they can take,” Imparato said.
“I think that having them understand that you are giving them something outside their box, but you think they can handle it, engenders the best results. Not ‘If you don’t get it you’ve failed and you are out’.”
How to build an upskilling program at your organization
Assess skill gaps and improvements
This evaluation can be carried out through surveys, performance appraisals, and engaging in dialogues with employees.
Establishing upskilling objectives
These objectives should align with the organization’s strategic ambitions and target the recognized skill deficiencies. Well-defined objectives will serve as a compass for the upskilling program and gauge its efficacy.
Customizing training to individual requirements
Recognize that not all employees have identical training needs. Therefore, customize upskilling programs to cater to the specific requirements of each individual, taking into consideration their current skill levels and career aspirations. Personalized training plans are more potent in nurturing employees.
Ensuring access to learning resources
This may encompass in-house training, online courses, workshops, and mentorship. Employees can select the methods that best align with their preferred learning styles.
Articulating the advantages
Outline how it can lead to career advancement, heightened job stability, and personal growth. In doing so, it is likelier to incentivize the learning.
Cultivating a supportive atmosphere
Foster an environment that endorses upskilling; for example, where employees feel at ease asking questions, learning from their errors, and seeking assistance when required. A culture that prizes learning and development naturally motivates employees to upskill.
Offering flexibility
Employees often have diverse commitments and responsibilities outside work. Provide flexibility in the upskilling process by presenting part-time courses, remote learning alternatives, or accommodating different timetables.
