When it comes to engagement, companies often focus on ways to motivate employees.
But when they take time to upskill or reskill employees, they gain so much more than engagement. They end up with a more prepared and decisive workforce.
Plus, when you upskill and reskill, there’s this: LinkedIn researchers found that companies that are good at internal training keep employees twice as long as companies that don’t get it right.
Upskill or reskill to build loyalty
Upskilling and reskilling is often better than hiring new employees. And you gain a more loyal workforce.
Even better, you get employees who can handle more or different responsibilities and roles. And they have a better understanding of what makes your organization tick.
Here, in our 3-Point from HRMorning video series, we have HR leaders and experts who know that investing in training and skill development is essential to employees’ professional and personal success. As one of our pros puts it, “No one walks into work saying, ‘I think I’m going to do a mediocre job.”
No, most people want to do a good job today — and a better job tomorrow. That’s why you want to invest in upskilling and reskilling.
Click, watch and listen for more details on the best ways to do that.
Transcript (edited for clarity):
In HR, we often look for the next best thing.
But in today’s market, the best thing is probably right under your nose. It’s the employees you already have.
They can likely fill the roles you need with training. In fact, there’s evidence that upskilling and reskilling is better than hiring new employees: LinkedIn researchers found that companies that are good at internal training keep employees twice as long as companies that don’t get it right.
So how can you get it right? For starters, commit to the investment.
Link: We believe that any opportunity that you undertake to build the innovation capability or the knowledge base of your current or future employees is about the best investment you can make.
Once you invest, make your employees’ development THE priority.
Leschke-Kahle: Nobody walks into work saying, “I think I want to do a mediocre job.” Most people walk into work every day and want to make a difference. They want to add value to the organization. So I think if we flip that around a little bit and go, “How do we, as leaders, as people leaders, as well as whole organizations, create the space for people to, I’m gonna say, do a little bit more of their own unique best work?”
And Jim Link has another idea on this.
Link: And more and more organizations today are dropping previous requirements that they had, unnecessary requirements that is, which they felt like at that time might have given someone who had that opportunity or had that credential or that skill or that degree a better opportunity for success. Which this is great, because it now opens up the door for people who have critical thinking, skill and capability — but not necessarily that specific line item on their resume.
Back to that LinkedIn study. They found that employees who don’t feel their skills are being used or developed are 10 times more likely to quit. So, to help employees be their best:
- Invest. Put more resources toward improving your staff, rather than hiring for skills.
- Create the space for people to do their best – in training and on the job.
- Drop archaic prerequisites whether you’re hiring, training or promoting.
Employees want to learn. Now’s the time to give them the learning and development they deserve.