Technological advancement pushed businesses to change their business model to cater to new customer demands and employee expectations. Businesses are urged to find the balance between having a profitable business while developing a culture of innovation and reinvention to remain globally competitive. With that said, having the right team with the right skill set during this time of digital transformation should be your top most priority.
Keep in mind that this isn’t a matter of learning how to utilize automation technology, it’s about creating a space for analytical, creative, and experimental thinking. This requires knowledge, new skill sets, and perspective that may not yet be present in the business. Upskilling your current team will help them learn these skills that can help both individuals and the business grow progressively.
But how is upskilling better than hiring new talents? Here are 9 reasons why:
5. Boosts morale
Employees who have access to training and development opportunities for their rules are more satisfied in their jobs and have a brighter outlook on their future with the company. Upskilling your team helps them see the path to career advancement. In turn, this gets them excited about work and what’s next for their careers. The best career motivation is knowing that they are working towards something that will lead them in creating a deeper sense of purpose.
6. Improves employee retention
No worker would want to work on a business that doesn’t invest in its employees’ career development. Your upskilling efforts will not only ensure that your team’s skill set won’t become obsolete, but it also shows your people that you care about their individual career growth.
7. Increases customer satisfaction
Upskilling keeps your team up to date on industry trends that help them offer the best recommendations and insights to your clients and prospects. As a result, clients are more than willing to pay to work with a more knowledgeable and proactive team.
And we all know what happens when customers are happy with the work your team does; they become your business brand advocates.