In fact, the narrative of “upskilling and reskilling is crucial to survival and long-term employability” is not new, given that the job market has been hit by multiple economic crises over the years.
For instance, professional trainers would tell you that a fear of learning new things can be addressed once learners' focus is shifted from challenges to benefits. However, if organisations don’t encourage and facilitate continual reskilling, upskilling and cross-skilling, a substantial number of workers could sink into comfort zones, only to panic when their roles became obsolete.
This is not unique to Singapore. According to PwC’s 2019 Talent Trends Report: Upskilling for a Digital World, 79 per cent of global CEOs said they were"extremely" or"somewhat" concerned about the lack of essential skills among their employees. Generally, training your existing workers is more beneficial than getting trapped in a cycle of firing and hiring. The Society for Human Resource Management states that it could cost about 50 per cent of an employee’s annual salary to find a direct replacement.A lack of time is often cited as a barrier to learning and development, but the cost of having employees who lack the skills to enable your business to thrive is clearly much higher than the cost of giving your employees learning breaks.
Segmenting training programmes into manageable modules has also been known to increase the adoption of lifelong learning. Many organisations have been creating bite-sized modules that constitute both classroom training and virtual learning. As the learning outcomes begin to show in the way they work and manage staff, the merits of upskilling and reskilling will inevitably become apparent to everyone else.
“Help”? That’s a terrible term to use on employees. Provide training to employees to up their skillsets only benefits employers. Call that “INVESTMENT.”
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