Why Upskilling is Better Than Hiring?

To match the pace of the fast-moving business world, one has to adapt to all the changes happening around. Surprisingly, technology is seeing new dawns every other day and hence it is the duty of every company to keep their workforce updated.

Yes, they should ensure if their employees are skilled enough to adopt these changes and that is where a question comes in- to hire or upskill the existing workforce? 

Most companies in India prefer posting advertisements, interviewing candidates, selecting some out of them and finally welcoming the lucky ones using the right offer letter and appointment letter format. 

Sadly, most of the companies don’t know the actual benefits of upskilling. And, if you are also one of them- this blog is just meant for you! 

What are the 5 advantages that come with upskilling?

1. Enhance Employee Engagement

Many managers mention, “our company will provide you with an excellent exposure to improve your skills”, in the offer letter that they write using the best offer letter format but not many stick to these words. That being said, every organization should train its workforce a new set of skills periodically.

Read more: How To Create The Right Employee Engagement Policy For Your Business

This way, they will be able to take on new challenges. Why devote time and effort recruiting when you can transform your existing workforce to excellent contenders?

2. Increase Morale and Motivation  

Employees automatically feel motivated when they realize that their company believes them. No matter how complicated the new technology is, good training will help the workforce to adapt to it.

Read more: technology and Education or Curriculum? Is it time to eliminate the ‘Or’?

After all, you offered them the appointment letter and they are still a part of your company due to their skills and talent. Hence, believe them and provide all the necessary opportunities to understand, learn and imbibe the new change. This will also give them the confidence to perform better.

3. Build Successors 

Every organization should start investing in its workforce. Encouraging training and development programs is a must at the present time. Spending a little money is not going to harm anyone rather it will only cultivate talented people.

In addition to this, upskilling will help a successor to step into a leadership role. For instance: New technology is nothing less than a new challenge.

The one who understands and solves it can be put in front. But ensure you make employees aware of it and also be transparent in the whole process. 

4. Create a Healthy Work Culture 

If one relies on upskilling, it will indeed build a learning culture, which will go a long way in creativity and innovation. Your current workforce has a good understanding of the vision, goals, and culture of the company.

So, no one can ever adapt to changes as easily as them. Given the required time, empowered to learn they will definitely make it there.  

5. Saving Money 

Let’s put some light on hiring first! From job posting, rounds and rounds of interviews, third-party background checks to using the right offer letter format, recruitment takes a lot of effort, time and money. And what if it is a wrong hire? The end result- Loss! 

Know more: National Savings Scheme Account – What it is and How to open an account

Why take a chance when you already have resources? Undeniably, training and development programs are not only readily available but also feasible for everyone.

Well, it may take some time as there may be some employees you will have to pay a little more attention to. But, the end results will be positive- FOR SURE! 

Bottom Line:

So, don’t waste time posting jobs and searching for a good offer letter or appointment letter format. 

By now, you must have had understood the benefits of upskilling. From enhancing workforce productivity to saving your money, there are enough reasons to try upskilling once. 

Just allow your employees to build and develop their career paths. Cut down the gaps in your current employees’ skills.

Read more: 7 Things To Do To Give Your Career A Boost It Needs And Become Successful

Lastly, when an organization decides to invest in upskilling, in turn, employees will decide to stay with them to flourish and thrive.