Employees with the most advanced skills and training are valuable and highly desired. The skills gap for advanced technological skills is wide, and many business owners are in a position where they are unable to fill job vacancies. This hinders growth and costs the company money. An alternative option to competitive and expensive recruiting efforts is upskilling. A company can upskill current employees or hire attainable unskilled employees eager and willing to learn the required skills for the job. Upskilling is not a new concept; however, there are some misconceptions.
Here are 6 myths we will debunk about upskilling:
1. Employees are more likely to leave you once you upskill them
2. It is better for the bottom line to recruit than to upskill
3. It is hard to offer an upskilling platform for your company
4. Upskilling courses won't have the specific information your employees need
5. The only benefit of upskilling is education
6. Employees don't want to upskill
Myth #1: Employees are more likely to leave your company once you upskill them.
Debunked: No, they won't leave! They will actually stay longer. CEOs are worried that once their staff is upskilled, they will want to leave; however, upskilling programs cultivate employee loyalty and drive retention. 94% of employees reported that they would stay longer at a company that invests in their career [1].
Myth #2: It is better for the bottom line to recruit than to upskill.
Debunked: Recruiting and hiring are extremely expensive, and upskilling is a budget-friendly option comparatively. Just the hiring aspect of turnover can cost up to 30% of a job's salary [2]. Total turnover costs vary between over 50% of the salary for entry-level jobs, 125% for mid-level jobs, and 200% for senior executive level jobs [3]. Upskilling employees costs a fraction of recruiting and helps increase retention rates, so there is less turnover.
Myth #3:Offering an upskilling program is time consuming and requires extra staffing resources.
Debunked: You can offer a custom online learning platformfor your companyeasily and quicklywithout additional staff. This is done by partnering with a company that specializes in creating online learning platforms and curating custom content for businesses. Amesite is the leading company for this service and can have a complete upskilling platform and curriculum ready in just 30 days. It is a simple process and requires no additional IT staff or administrative support to implement.
Myth #4: Upskilling courses won't have thespecificinformation your employees need.
Debunked: A custom upskilling course can be created for your business and fit its exact needs. This is done by partnering with a company that hires industry experts to curate courses on the most advanced topics. You can provide your employees with precisely the information they need to succeed.
Myth #5: The only benefit to upskilling is education.
Debunked: Upskilling has a myriad of benefits on top of educating yourworkforce. Upskilling fosters loyalty and increases performance, productivity, and retention. It also builds community, and 60% of CEOs report a robust upskilling program provides a clear improvement to their company culture [4]. Companies with advanced upskilling programs also saw a 300% improvement in innovation and accelerated digital transformation. Upskilling also results in an ROI of at least 100% [5], and companies that prioritize employee development make median revenue of $169,100 per employee. Companies that do not prioritize make less than half of that, at $82,800 [6]. Upskilling programs offer numerous benefits on top of education, making it an incredibly worthwhile investment.
Myth #6: Employees don't want to upskill.
Debunked: Not only do employees want to upskill, but they also value education opportunities immensely. Millennials will make up 75% of America's workforce by 2030 [7], and they value upskilling. 95% believe learning is key to success in their careers [8] and cite the opportunity for on-the-job training to be a decisive factor when accepting a position or remaining at a company [9]. Gen Z workers rank education as the second most important benefit a company can offer following health care [10].
How Can Your Company Launch an Online Learning Platform to Upskill Employees Easily and Quickly?
Circling back to the topic of myth three, it is easy to launch an online learning platform for your employees. With a smart partnership, your company can have a customized, comprehensive curriculum and branded online learning platform in no time. Not all online learning environments are made the same, so it is crucial to invest in the best platform for your company.
Here are key elements that online learning platforms need to provide value to your company and employees:
Custom branded platform and courses that are uniquely relevant to your workforce
Engaging delivery methods that keep employees actively learning
AI and advanced data capabilities for better learning outcomes and insights
Positive user experience and high retention rates
Turn-key systems capable of immediate implementation with no learning curve
An online learning platform designed to upskill your employees can set your business up for success in the future. Upskilling provides so many benefits to the employer and employee that implementing a robust upskilling program should be a no-brainer, especially after debunking these myths putting worries to rest.
Amesite Offers a Single, Easy to Use, Scalable Solution
Launch an upskilling program to retain employees, increase performance, productivity and revenue while building a strong company culture.
Amesite is a high-tech AI-powered online learning platform. We specialize in scalable, custom branded online learning environments and content curation to meet employer's unique upskilling needs.
Amesite's online learning platform is the key to upskilling your workforce and providing them with the educational benefits they desire. Amesite's high-tech AI-powered online learning environment is custom-branded to each company to build brand loyalty and meet specific upskilling needs. We source subject matter experts who design innovative and custom content for courses ensuring excellent value is provided to your employees. A host of self-paced, highly engaging, and intuitive courses can be ready for your company in as little as 30 days.
Amesite creates outstanding learning and user experiences delivered on its advanced platform. Using AI and advanced analytics to provide fresh content keeps learners engaged. Coupled with outstanding services, these experiences deepen professionals' interest in subjects important to their company's goals. Amesite's unparalleled retention rate in the enterprise sector is 100%.
Let Amesite help your company upskill today! Request a Demo!
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