Benefits of upskilling include:
- Improving your adaptability
- Future-proofing your transferable skills
- Becoming more marketable to employers
- Asserting your value during technological changes
- Staying abreast of industry trends
- Preparing you for future career transitions
- Boosting job security and confidence
What is Upskilling?
Upskilling is the process of learning new and advanced competencies to close a skills gap. Many rising leaders and managers seek upskilling options to improve their communication, people management, problem-solving, emotional intelligence, and teamwork. Whether done on their own time or accessed through their company, classes (such as our Invited MBA) for industry-based skills improvements are more important than ever for every member of the workforce.
In fact, Steven Dineen, recently wrote for Forbes,
“With the speed of knowledge change ever-increasing and the new world of hybrid work here to stay, the need for rapid upskilling at scale has risen exponentially.”
Forbes
Upskilling Vs. Reskilling
In discussions of upskilling, the term reskilling will also be referenced. While upskilling is about upgrading or advancing existing skills, reskilling is about learning new skills for a different career path. The Invited MBA provides both.
Upskilling keeps employees on the same career trajectory, whereas reskilling may include switching job titles and can prepare an employee for a different job within the same company.
7 Ways Upskilling Benefits Your Career
Whether you’re looking for a promotion, changing careers, or exploring different types of job opportunities, upskilling/reskilling is an easy way to to level up your professional competencies and expand upon your strengths.
Improve Adaptability to Change
Upskilling provides you with an update to your current skills, which makes you more adaptable to change. This is especially true when it comes to technology. Upskilling to learn how to use new technology (like Zoom, metaversal environments, and Slack) can make you better prepared for internal company changes and better able to navigate the ever-changing digital landscape.
Future Proof Your Skills
Upskilling is all about future-proofing your skills. Technology will change and advance. And, it will likely happen quickly. Upskilling allows you to future proof your skills by learning a variety of different skills in different areas that prepares you to easily transition to a new job, get a promotion, or keep your same job when a technological change is rolled out.
Make Yourself More Marketable to Employers
Upskilling helps you upgrade your skills, which makes you a more valuable resource for your company. An easy way to do that is through continuously learning new skills and exhibiting strong, soft skills. Our Invited MBA program is the perfect way to learn leadership and problem-solving skills that will make you a more valuable employee.
Reduce Redundancy
Some of the newest technological advances are taking on the work of people. For example, AI programs and machine learning can do repetitive tasks that were once done by employees. Upskilling ensures that your skills stay up to date — Harvard Business Review considers good people managers irreplaceable. Soft skills, such as leadership, communication, and creativity, are always valuable to a company and are less likely to be taken over by technology. Hone those skills, and you’ll always find a way to advance in your career.
Stay Up to Date With Industry Trends
Upskilling is also a great way to stay apprised of industry trends and changes. As technology advances, the skills needed for specific jobs change. This change is happening more and more rapidly. Upgrading your skills can help you to prepare for these changes and be in the know about what’s coming next for your job and industry. Knowing what changes are coming is an invaluable skill to any employer.
Prepare for Career Transitions
While the focus of upskilling is better equipping yourself for the demands of your current job or position, it can also be a way to prepare yourself for a career transition or a promotion. Upskilling helps you maintain relevant skills and to outpace technological advancements within your position and career track. With fresh soft skills, it makes it easier to make a career transition if necessary.
Boost Job Security and Confidence
The final, but possibly most important, benefit to upskilling is that it boosts your job security. The more desirable skills you have, the more likely you are to be able to stay at your current company in your current role. Upskilling ensures that your current skills aren’t outpaced and replaced by technology.
Knowledge and skills also create confidence. When you know how to solve a problem or feel capable of tackling a task, you’re more confident in your work. This confidence can translate into happier employees and employers.
How to Get Started
While each industry and position has its own unique skills, the most transferable and important skills to have in this rapidly-changing work environment are soft skills.
The best way to learn soft skills such as leadership, communication, people management, and teamwork is through hands-on practice like the Invited MBA. The 12-week, part-time mini-MBA program helps you develop the leadership skills you need to enhance your financial literacy and build the transferable skills you need to succeed, no matter what step you take next in your career.
To learn more about the accelerated business program, click here.
