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Why companies should invest in Upskilling and Reskilling

Upskilling y Reskilling

The impact of automation has been felt in many industries, with the emergence of robots and algorithms taking over certain functions traditionally performed by humans. This has led to job losses in certain sectors, but it has created new opportunities in others. That’s why, modern companies must invest in Upskilling and Reskilling to stay competent, be more productive, save on costs, improve recruitment and retention, etc.


What is Upskilling?

Upskilling is the process of acquiring new skills, knowledge, and competencies required for the labour market’s changing demands. This can range from developing skills an employee already has to learn entirely new ones. With the rise of technological advances, upskilling has become increasingly important for workers seeking to remain competitive in today’s job market.


What is Reskilling?

Reskilling or “retraining” consists of acquiring new skills, abilities, and competencies to be able to carry out the same job or another job and be updated to continue being part of a changing labour market.


Why is Upskilling crucial in today’s job market?

The role of human resources departments has become increasingly important in the training and updating of the workforce, Upskilling and Reskilling. As the global economy changes and technology advances, companies must be able to quickly adapt to changing demands and remain competitive. To achieve this, they need to ensure that their workforce has the right skills and knowledge and can adapt to new and changing roles.

A human resources department must constantly look for ways to improve and retrain its workforce in order for the company to stay competitive in the ever-changing job market. By Upskilling and Reskilling, an HR department can ensure that its employees are well-equipped to handle current and emerging roles. This can help the organization stay ahead and remain competitive in the industry.


Benefits of upskilling and reskilling

The Upskilling and Reskilling of employees provides numerous benefits to the company. These benefits include increased employee engagement, increased productivity, cost savings, better customer service, increased flexibility, access to new skills, better recruitment and retention, increased organizational efficiency, and increased job satisfaction. Additionally, upgrading and reskilling the workforce can help build a better corporate culture and support a more diverse, inclusive, and equitable workplace.

  • Increased Productivity: Upgrading and reskilling employees helps them become more efficient and effective in the workplace, allowing the company to do more with fewer resources.
  • Better customer service: Investing in employee development can help improve customer service by giving them the skills and knowledge they need to better serve customers.
  • Reduced staff turnover: Upskilling and reskilling employees gives them a sense of purpose and motivation to stay with the company.
  • Increased competitiveness: A well-trained and knowledgeable workforce can make the company more competitive in the marketplace, allowing it to stay ahead of the competition.
  • Increased Employee Satisfaction: Upskilling and reskilling employees can increase job satisfaction, resulting in a happier and more productive workforce.
  • Cost savings: Investing in employee development can result in cost savings in the long run, as the company will not need to hire new employees as frequently.


Strategies for upskilling and reskilling the workforce

In an ever-changing job market where skills can become obsolete overnight, it is essential that companies take proactive steps to upskill and reskill their workforce. Companies must take a holistic approach to ensure their employees stay ahead and are ready to take on new challenges as they arise. Here are some strategies for upskilling and reskilling the workforce:

  • Identify skills gaps: Companies should conduct a skills assessment of their current workforce to identify potential skill gaps. This helps the company identify which areas need to be addressed and which employees need additional training.
  1. Invest in Training: Companies should invest in formal and informal training programs to help employees develop their skills and stay updated on the latest industry developments.
  2. Leverage Technology: Companies can leverage technology, such as online learning platforms and virtual training sessions, to improve the efficiency of their upskilling and upskilling efforts.
  3. Promote internal mobility: Companies should promote internal mobility and offer employees the opportunity to change roles or departments to learn new skills and gain new experiences.
  4. Encourage networking: Companies should encourage employees to attend events and conferences to network and learn from industry experts.
  5. Provide Mentoring Opportunities: Companies should provide mentoring or mentoring opportunities to their employees to help them develop their skills and gain valuable insights from experienced professionals.


It is also important to remember that upskilling is an ongoing process, and it is important to continually learn and develop new skills.


In general, Upskilling and Reskilling are essential for a company to stay competitive and thus ensure that its employees are well-equipped to handle new roles and challenges. With the right skills and training, the human resources department can help the organisation remain successful and build a strong workforce. It is also a crucial strategy for employee retention and enhancing employer branding.


This is why, at the beginning of 2023, the Lavoropiù Group added the Formapiù brand, the new division specialized in training for companies and employees.