HOW UPSKILLING CAN BOOST YOUR BOTTOM LINE
In today’s challenging and competitive business climate, developing the skills of existing employees is not always the top of our priority list, especially as it means parting with money we might think is better spent elsewhere.
However, studies have shown that investing in ‘upskilling’ your workforce can have significant long-term benefits for an organisation. Upskilling is simply training that allows workers to do their jobs – much better!Training employees for training’s sake or for a tick in the box isn’t the answer. For upskilling to have any real value to the business, it needs to be both beneficial and relevant to the day to day tasks and responsibilities of employees.
Four reasons your business needs to be upskilling:
1. Improves retention
High value employees who achieve high productivity and high morale can often be hard to find, but to keep them can be even more challenging. Creating a culture where employees are actively encouraged to develop and grow can play a valuable role in both attracting and retaining employees. It makes them feel more confident and appreciated, leading to higher levels of job satisfaction and morale.
2. Increases efficiency
Developing the skills of your existing workforce can help improve the service you deliver to customers and clients as well as supporting employees to advance in their career, potentially moving into more senior roles where they can lead, manage and mentor others.
3. Improves engagement and productivity
Providing your employees with opportunities to train and develop can dramatically improve employee engagement. Upskilling doesn’t just deliver new skills, it provides renewed enthusiasm for the job which in turn impacts positively on productivity.
4. Boosts your bottom line
Failure to retain valuable employees can dramatically affect your bottom line and can create wider organisational issues such as low self-esteem and increased feelings of job insecurity. Investing in a workforce development programme can be extremely effective in reducing staff turnover, improving motivation and ultimately boosting your bottom line!
Investing in workforce development
Investing in workforce development to upskill employees should be an ongoing process aligned with the wider business strategy. There are a host of training opportunities now accessible for all – from the shop floor to executive level – relevant to specific sectors or responsibilities of an individual.
Training can be delivered via a number of methods such as apprenticeships, on-the-job learning, virtual learning or individual study.
Developing a more qualified workforce with apprenticeships
Apprenticeships are a cost-effective way to develop and grow a more qualified workforce. There are now more high-quality apprenticeships than ever before to support and develop employees of all ages, background and job roles.
At GP Strategies Apprenticeships, we understand that training and development is not a one size fits all. In order to meet our mission to enable people and businesses to perform at their highest potential, we deliver a wide range of apprenticeship programmes, qualifications, commercial training courses and other value added services.
For help and advice on upskilling employees or on how to develop an effective workforce development programme, please get in touch or call us on 0330 1000 610.