If the COVID-19 pandemic has taught the industry anything, it is about the uncertainty of jobs. Employees today, have been looking forward to learning new job skills to retain their work value. A lot of employees ended up losing their jobs during the initial phase of the pandemic. This has brought about an increase in reskilling and retraining among a large number of employees. Job retraining is now becoming a necessity for several employees.

In this blog, we discuss the importance of upskilling and retraining in HRM and how it may impact jobs in the future.

Upskilling v/s Retraining in HRM

When the existing employees of a company are taught new skills for their present work role, the process of acquiring relevant competencies is known as upskilling. It provides more opportunities and responsibilities to the workforce.

Retraining, on the other hand, refers to training employees with a new or existing skill set that may positively impact a business. It allows workers to update or retain their existing knowledge. Retraining may also be provided to an employee who is deemed as lacking the skills required for their job role.

Another aspect of retraining includes employees taking up courses that may help them develop skills for a job change. It is also helpful for employees wanting to change their field or area of work. Retraining ensures that the employees are eligible to work under updated policies. Career development loans and adult education grants provide financial aid to employees looking to retrain themselves through certain programs and courses.

Importance of Training and Retraining

The sudden need for training and retraining candidates can also be attributed to the changes in the work situations. It has been estimated that almost 22 million jobs have been lost in advanced countries since the onset of the pandemic. In recent times, some industries suffered more than others. In addition to the loss of income during the pandemic, employees feel threatened by AI, which might take over their jobs in the future.

Earlier, HR professionals depended on the resume/CV of the candidates, seeing to it that the job description matches the job roles. With changing times, diverse and developing talent is preferred. It is now considered important that the talent has diverse skills gained from their education, and work experiences.

Benefits of Retraining Employees

Companies are now retraining and upskilling their employees to keep up with the demands of the business. Learning and reskilling improve employee health and well-being while having a positive impact on the economy and community. With updated skills and training, employees can outperform themselves and improve the quality of their work overtime. With technology taking over several job skills, upskilling and retraining have become necessary for the workforce today.

Some of the benefits of job retraining include:

1. Improved work services: With enhanced skills and refined knowledge, employees can give better work performance that can improve the quality of work.

2. Fresh perspectives:  The employees develop a different outlook on their work process that can help them make changes and improvements wherever needed.

3. Better morale: The employees may feel more satisfied with their work and their jobs, it can improve their morale when it comes to new tasks and job projects.

Employees are also taking a step towards retraining themselves for similar job roles. This comes from the fact that several industries went out of business, and it was unclear if certain job roles would be relevant again in the future. Several employees are working towards upskilling themselves to advance in their careers or switching them. Some of the ways retraining and upskilling benefits employees include:

1. Improved Job Prospects: The employees can learn skills that are currently in demand within their industry. This may allow them to progress into better work opportunities in the

2. Job Satisfaction: Constant learning allows employees to develop professionally and personally. It may make them feel more valued in their company for their skills.

3. Developed Skills: With improved work skills, the employees would find it easier to carry out their jobs. It would make their work much more effective and enhanced.

4. Job Security: Employees may feel much at ease when their work skills are irreplaceable. It provides them a sense of security with regard to their jobs.

5. Better Pay: The uncertainty of the pandemic has led employees to be more reliant on jobs that pay well. An advanced and diverse skill set provides them with better work pays as well.

How Can Employers Help?

Employers can retain their employees and provide them with a better work environment with the help of training programs. They can create a learning culture in their workspace by:

• Investing in IT learning support systems: They can invest in modern IT systems by providing on-the-job training courses for employees. Employees can also be given the chance to learn new skills and employ them with the help of job rotations.

• Integrating learning with Performance: Employers can incorporate the learning rates of the employees in performance reviews. The leaders can also act as learning role models for their teams. This can help the workers feel motivated to learn.

• Self-driven learning: Employers can expect their employees to incorporate their learnings into their daily tasks. They can provide microlearning applications or online training programs that their employers can practically engage in.

Conclusion

Reports suggest that workers have been turning to more practical and realistic options for job retraining. Some of the most sought-after fields for retraining range from management, information technology, consulting and media, and so on. The workers today are focusing on jobs that can be easily transitioned into and have a wide variety of work roles.

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