Reskilling

What is reskilling?

Reskilling is a type of workplace learning where employees learn new skills outside of their existing skill set. It is a valuable employee development tool for lateral changes in an organization.

Example: After our teams combined with the merger, I participated in a reskilling program to broaden my skill set and adapt to my new responsibilities.

Reskilling vs. upskilling

While reskilling and upskilling both provide valuable skills development opportunities for workers and organizations, the two types of learning contain key differences. Unlike reskilling, upskilling involves offering opportunities for learning and development related to an employee’s existing skill set, and can be a valuable tool for vertical career development.

What are the benefits of reskilling?

Reskilling offers a variety of benefits for both organizations and participating employees. For workers, reskilling can facilitate career advancement and lead to greater job security. This is especially important in today’s ever-evolving global economy, where workers must show agility and adaptability in their skill-building abilities.

Reskilling employees can reduce the skills gap in an organization. It can also reduce hiring costs. Rather than making new hires to fill skills gaps, companies can train existing employees to perform new functions as workplace priorities change. It can even help strengthen a company’s culture by promoting lifelong learning.