Employee Retention and Upskilling: A Match Made in Heaven

Want to hear something alarming? Your workforce doesn’t have most of the skills it’s going to need in the future. LinkedIn recently announced a list of the most-sought after skills for 2019 based on their data, and chances are there are skills on this list that your current workforce does not have. Here are a few to give you an idea:

  • Cloud Computing
  • Artificial Intelligence
  • Analytical Reasoning
  • People Management
  • UX Design
  • Natural Language Processing
  • Industrial Design
  • Competitive Strategies
  • Data Science

If your company doesn’t have a need for these skills today, it’s almost certain it will in the future. So wouldn’t it make sense to begin training your current employees in these skills now?

Amazon certainly thinks so, as it’s demonstrated by announcing a massive retraining initiative that will involve upskilling over 100,000 employees over the course of the next six years.

Read more: Amazon’s $700M Retraining Bet: How to Jumpstart Upskilling

And they’re not alone: AT&T rolled out a similar effort in 2018 when they invested $1B in upskilling more than half their employees! It’s clear there’s a trend taking off, and now is the time to join in. 

Upskilling is an employee retention tool 

Starting to retrain your workforce now is like setting aside a portion of your paycheck each month for your 401K: it’s an important investment in your (and your company’s) future. But the long term benefits of upskilling go much further than that.

The competitiveness and agility of your brand are going to rely on having a team of highly skilled employees, but having them isn’t enough: you have to keep them. 

What makes Upskilling such a win for organizations like yours is that by retraining your staff and providing development opportunities, you are improving employee engagement and increasing their likelihood at staying with the company, making your team more efficient all the while.

Upskilling Your Workforce

Are your people strong enough to compete?

I want to find out

How? New findings from Gallop showed that an effective learning program has been shown to drive employee engagement and positively impact employee retention. The data from Gallop’s report shows that a lack of development and career growth is the No. 1 reason employees leave a job (source: State of the American Workplace). 

When we take this information into account, a retraining initiative will impact employee retention as well. And this is why Upskilling is such a valuable tool. 

Here’s how to start 

You’ve invested in your current employees. The people working inside your walls already know your company lingo and processes are familiar with your workflows, and you’ve already established that they are a culture fit. The work is already done!

Getting into the habit of continuously upskilling your workforce is one of the best ways to prepare for the future. Not only will you ensure your people have what it takes to succeed, but you will also drive employee engagement by investing in your employees’ development – a true win-win! 

If you’re ready to dive in and follow Amazon’s lead, download our free eBook, Upskilling Your Workforce, where you will learn step-by-step how to implement a culture of continuous learning within your company!