Workforce retraining is now a necessity for contemporary organisations where advances in technology, the evolution of customer needs, and changing business models occur rapidly. Actionable organisations that support retraining their workforce not only remain competitive but also ensure that their employees are prepared for the future of work. Workforce retraining is not merely a necessity for a competitive edge in the face of advancements, but also to aid employees in excelling in an evolving role. 70% of tech firms say reskilling their workforce is a high priority, and 65% of tech workers believe their skills will be outdated in five years, due to the fact that they have not engaged in upskilling.
This blog aims to clarify what workforce retraining means and its relevance, when it is appropriate to do it, and modern and typical approaches to this that can meet employee and organisational needs. We also outline its business relevance, associated risks and challenges, and best practices to consider aiding organisations in structuring sound workforce retraining that supports organisational and employee success. In fact, most tech firms (72%) provide formal training programs specifically for digital skill development, providing evidence of the prevalence of retraining.
Retraining is the act of providing employees with both new skill sets and modifications to their current skill sets to meet the changing demands of the workplace. The act of retraining employees creates a workforce that is productive, agile, and aligned with a changed organisational strategy. Retraining employees’ skills creates a workforce that is agile and ready to meet the changing demands of employers.
Employment retraining is intended to fill the gap between skills that are becoming outdated and the skills that are needed to continue contributing to, or participating in, a particular sector. Employment retraining may allow employers an opportunity to be better aligned with the demands of local industries, while ensuring their employees have the skills necessary to effectively implement new technology in compliance with regulations of the occupation or meet a growing skill gap.
Retraining employees will also increase employee satisfaction and retention. It doesn't have to be big things; even small things, like retention interviews, can be voluntary. Retraining or upskilling can reinforce to employees that the employer is fully committed to the development of their employees. This, in return, fosters loyalty, productivity, and a culture of continuous learning and improvement.
Before exploring the various reasons, it is helpful to note that retraining employees can allow businesses to adapt, grow, and sustain their business's competitive advantage.
With retraining, employees will be less likely to struggle to use new tools and systems. This can help the employee avoid skill obsolescence. A retrained workforce will be better prepared for the digital transformation. Adaptability can also make transitions much smoother with less disruption.
A retrained workforce can become more effective with task management and fewer mistakes. When the workforce has updated knowledge, employees can be more productive, saving time and resources. The accumulation of better productivity practices can lead to a more profitable organisation over time.
When an organisation invests in the professional development of employees, they are less likely to feel demotivated at their job. Retraining can develop value in the workforce, creating a sense of belonging. An employee can feel more motivated and valued, they can demonstrate a deeper commitment to achieving goals and improve teamwork.
After preparing their employees for the future, organisations can preserve and develop position roles to keep up with industry trends. With employees upskilled to handle any expectations from customers, the organisation becomes more agile, providing a more stable advantage over competitors.
Providing retraining resources signals to an employee that there are potential opportunities for promotion or advancement. Employees are less likely to leave if they have received assistance with multiple opportunities for advancement. In addition, retaining employees can lower the constant costs of hiring new employees.
Organisations should be mindful of particular situations when retraining is necessary for success.
When new tools, equipment, or software are deployed, retraining will help employees learn the new systems more quickly. Retraining will mitigate delays, mistakes, and resistance to using the new system. It can also enable employees to feel confident in using the new systems.
Retraining is necessary when compliance regulations or industry best practices change. Employees will be better informed about the new expectations to avoid risks and penalties associated with non-compliance. This can benefit stakeholder and client confidence.
If employees are consistently failing to succeed in their role, retraining can help bridge those skill gaps and develop their ability and confidence to improve their performance. Retaining skills and abilities early on mitigates the degeneration of performance gaps over time.
Employees promoted into new roles require retraining that will prepare them to take on new responsibilities. This includes preparatory training for leadership, decision-making, and strategising. Retraining employees well will support a smooth career transition.
Merging customer expectations often requires employees to change the skills they possess. Retraining ensures employees are ready to meet those expectations with the most current capabilities. This flexibility and reorganisation build confidence and optimism for customers.
Before implementation, it is crucial to understand how to retrain employees effectively to maximise results.
Complete a skills gap analysis of the employee/department(s) to determine what skills are lacking (or missing) in terms of competencies. Defining these needs will help ensure that the retraining program is better focused. This step prevents time and money from being wasted by training on content that will not transfer to the workplace.
Define the outcome you expect to see from the retraining program in measurable terms, whether in terms of put into practice agreements, compliance, or productivity. Having measurable goals will allow the retraining to be aligned with those bigger goals in terms of business strategy.
Determine whether to implement workshops, e-learning, or mentoring sessions. Individual employees often thrive with different learning methodologies and typically are found to be most effective with a more blended approach.
Implement re-training at appropriate times and consider the need for resource management. Make managers a resource to assist employees during training. Structure creates more buy-in from employees and increases the chances of success.
Once re-training is complete, assess learning through performance metrics. Feedback and data show effectiveness. You can also make modifications and improvements on an ongoing basis. This ensures the training remains relevant and continues to add value in the long run.
Before appreciating the benefits, it is important to keep in mind the concept of shared value when retraining employees in the benefit of both the organisations and individuals.
Retraining provides employees with the newest skills and elevates their confidence levels. Confident employees face challenges with more courage. This, in turn, leads to improved overall team performance. It also encourages employees to take the initiative to share new ideas.
Training employees to be retrained to an employment context helps to train for different roles or be prepared for promotion opportunities. It keeps the employee's career progression dynamic and rewarding. Employees who relate retraining to extending their career growth journey and success. Retraining also improves retention rates and job satisfaction.
Employees who have been retrained can adapt and adjust to organisational changes or changing business situations. That flexibility makes transitions seamless. They need to undertake less training, and there is not as much idle time when new initiatives are launched. Flexibility will help your organisation remain competitive.
Employees with improved skills undertake their tasks quickly with better precision. Productivity improves in the organisation overall. Productivity improvements use fewer resources and greatly reduce operational costs. Increased productivity equates to improved quality with minimal mistakes.
When employees have improved skills, innovation and growth occur. Retraining offers the employee the opportunity to gain independence in taking on larger scales of project work. Profits contribute to and demonstrate sustainable business success. Profitable businesses ensure the organisation has future business rounds and is adaptable.
Organisations must also prepare for obstacles that may hinder retraining effectiveness. This highlights the importance of recognising barriers early to ensure that training programs achieve goals.
It is sometimes challenging for employees to integrate retraining into their responsibilities. Ineffective time management can compromise the effectiveness of the learning experience. Organisations can address this challenge with flexible schedule options.
A workforce retraining program can absorb large investments in equipment, trainers, and other resources. Smaller organisations may have difficulty covering these costs. While these expenditures may be high, the advantages of retraining usually outweigh the costs over time.
Certain employees will be resistant to retraining because change is frightening. This opposition reduces participation in a program. Addressing communication and encouragement can help mitigate apprehension.
If a training need was not properly identified, retraining may miss its mark. Programs that do not fit mispend time and money. Gathering accurate data will lead to relevant skill development programs.
Evaluating the results of retraining can be overwhelming. Without a proper method of measurement, organisations do not know if they are successful. The best approach is to create KPIs for tracking progress.
