Explode your profitability thanks to upskilling
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Estelle Barthes
Content Manager
November 5, 2022
6 min
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According to the comments reported by Les Echos Executive during the Davos forum held by PwC in January 2020, theUpskilling Is a”An essential tool for overcoming the talent shortage” in business. With a skills shortage that is growing every day on the job market (and mainly in the consulting sector), training becomes An obligation and no longer an option. In an era marked by chronic turn-over, Big Quit or Silent Quitting, Upskilling allows you to save the skills in place, to develop others, to engage employees... All while ensuring the sustainable profitability of the company.
According to the book published by the Association for Talent Development (ATD),”Upskilling and Reskilling, Turning Disruption and Change Into New Capabilities”, upskilling means the rise of skills already acquired as part of a training course. Its objective is simple: to ensure the sustainability and evolution of skills so that the employee evolves on his own workstation.
If you are doing research on the subject, you have probably also seen his Twin Brother, The Reskilling. This term refers to the development of skills as part of a training course as well, but To change jobs or career paths.
Upskilling starts with discussing with employees, operational managers and HR about the training actions to be implemented. These exchanges are favorable to the emergence of training courses with a real added value for the employee and above all, who He is interested ! Two essential elements so that the courses offered are not a waste of time...
Still according to a study conducted by PwC,”41% of French managers analyze the skills gap as a brake on growth”. However, upskilling pushes HR, managers and division heads to question the fundamental and transversal skills of their teams. Who has what essential skills? What are the ones that the teams are missing? What are the desired ones, which will become indispensable in the future, in view of emerging missions and business needs?
The establishment of an internal audit raises questions that are essential to the development and performance of the company.
For example, theAnalysis of the points that disabled project planning. An employee left along the way with rare skills and it was difficult to replace him at a moment's notice. The mission of upskilling is to redistribute skills, boost them and give them away news to employees.
Another example: a Staffing manager notes that only one of its managers has the necessary qualifications to resume his role in case of absence. Offer training to other managers allows him to delegate more often. At the same time, he can also train the manager on transversal skills, in order to support him on more delicate missions and, who knows, return to his post when the day comes. Chez Capgemini Invent for example, staffing managers often have a career as consultants, then managers before becoming staffing managers.
According to INSEE, the Turn-over phenomenon has not doubled or tripled, but has increased fivefold in 30 years. Head-spinning numbers that reveal that The business world has something to worry about. The new generation of workers has requirements. We will not talk about the health crisis, which has had a real impact on the world of work, including the rise and generalization of teleworking.
The implementation of training actions limits turnover, since employees become actors in their professional development. Life in the company regains its senses, since the employee is no longer stuck to his first skills.
In addition, by ending the rotation, the company continues to grow more calmly. Did you know that the time it takes to recruit and train a highly qualified employee can cost nearly 300% of their annual salary? A significant financial loss, when training actions are easily actionable...
Upskilling is only really effective if done all year round. So, rather than setting up one-off training (which sometimes turn out to be anecdotal for your employees) prefer the continuing education. Launching an open training program every month allows you to train your employees every day on new skills.
In addition, the objective of upskilling is to improve the skills of the employee based on his achievements. However, nothing prevents him from gaining transversal skills... as well as skills that interest him! Continuing training is also a good way to refresh a workstation, to bring something new and therefore to arouse the curiosity of the employee. In addition, it helps to counteract the Quit-Quitting, which is a real attack on your profitability.
Knowing that more than half of the positions existing in 2020 are likely to disappear by 2050, renew the skills collaborators are required. What's more, according to Employment center, more than 85% of the jobs of 2030 still do not exist ! Training your employees is therefore not essential only to limit turnover, or to promise more well-being in the company.
With the arrival of new jobs, having at your side talents loyal to the company will make it possible to cope with the arrival of new professions, to pursue growth and to multiply its chances of resisting the new competitors to come.
Do you want to go deeper into the subject? We have lots of resources at your disposal to help you go further.
In addition to this subject, find our White paper “What metrics should you follow to properly manage your staffing and improve your decision-making?”
Also discover our guides, templates and checklists in the Resources tab.
See you soon at Napta!
