6 Advantages of Upskilling and Reskilling to the Future of Your Career

Industries are meant to evolve. Many factors come into play, but the rapid advancement of technologies is perhaps the biggest driver today. It took a global pandemic to highlight its heightened adoption and reliance by organisations and individuals alike.

You, as the employee, need to prepare for it with new skillsets and knowledge, especially with the potential new jobs it will give way to. As DBS Bank chief executive Piyush Gupta says, "This is the course of human history—that jobs disappear when technology changes and jobs get created. The reality is more jobs get created in this period than ever existed in the past."

Upskilling and reskilling have always been essential in the workplace, but more so in today's uncertain and unpredictable economic climate. A resilient, flexible, and adaptable workforce can help companies keep up with the times through new business models and innovation.

Fortunately, workers understand the importance of upskilling and reskilling. In Singapore, there has been a surge as per 2020 data, with 72% of employees saying that reskilling has been more valuable amidst the pandemic for professional development.

A fancy degree from a top university doesn't guarantee employment resilience. Instead of resisting change, grab the opportunity to upgrade your skills and enjoy the exciting future of work.

Upskilling vs Reskilling: Similarities and Differences

Learning and development in the workplace often involve upskilling and reskilling, so the two understandably get interchanged. While they share similarities, these concepts have significant distinctions.

On the one hand, upskilling is training done to help you perform better in your position—meaning, the knowledge learnt is highly relevant to your role to build upon your current skill sets. With improved performance, employees can advance their current career path and contribute more to organisational success.

Another purpose for taking upskilling courses is to assist workers in adapting to changes in the industry, like using digital methods to improve manual processes. A good example is a graphic artist adept with traditional media like a pencil or paint transitioning to digital with Adobe Photoshop or Illustrator.

On the other hand, reskilling is training done to help you prepare for a new role—meaning, the knowledge learnt is entirely different from what you were initially hired for, so you can pick up new skills. This often happens when an organisation removes a department or a step in its process or shifts from one business strategy to another, requiring a transfer of personnel to a new department.

With reskilling, talented and high-performing workers who have already proven their worth but have limited growth opportunities can reposition themselves; in turn, employers retain them. An example would be an ad copywriter transitioning into a sales or client-facing role.

The Importance of Upskilling and Reskilling

Never stop learning. Here are six advantages of upskilling and reskilling for employees.

1. Prepare for changes

Education Minister Chan Chun Sing said that the "pace of acquiring skills and new knowledge must intensify," as Singaporeans may have to change jobs every five years.

Read: 10 Emerging Job Roles That Will Surge in Singapore

The evolution of industries is the result of other changes, such as the case of technological innovations shifting work arrangements and consumer preferences. With the changes happening faster today, new roles requiring advanced skills are similarly created faster. Companies need employees with the skills for current and future jobs, but there aren't enough people right now.

In preparation for more possible changes in the next few years, you must continuously equip yourself with the right skills and knowledge. This way, you also meet the fast-evolving industry demands.

2. Enjoy employability and its benefits

Skills and knowledge that are up to par with company standards, coupled with the effort to learn more, can help retain your employment and even future employability. Naturally, this also means you continue enjoying the perks of a monthly salary and other benefits your employer offers. Moreover, if you can stay with the same company for a longer period, you may be eligible for a 401k or insurance.

3. Sharpen your current skills or learn new ones

As mentioned, upskilling can hone your current skills, while reskilling gives you new abilities for a new position. However, training may focus too much on improving technical skills, but as proven, soft skills are equally important in the future of work. They help you better communicate with your colleagues or clients, and despite being difficult to measure, they can be learnt or developed.

4. More career opportunities

As you become more employable for a longer period due to upskilling and reskilling, you may see more opportunities to advance or take your career in different directions. Knowing there's a chance for a promotion or to stay with the company, despite economic uncertainties, can be a huge motivator to participate in skills learning.

5. Personal growth

People can have different reasons to undergo skills training. More commonly, employees use it to increase their value within the company, but some simply need the sense of satisfaction or accomplishment personal growth brings.

6. Mind-body benefits

A study by Oxford University found that lifelong learning positively impacts people's mental health. It can help with productivity and growth, alleviate stress, and keep the mind engaged and sharp. If you're looking for reasons to undergo skills training outside of work, these may be it.

How to Upskill or Reskill

Ready to take on the challenge of learning and development? Here's how you can start upskilling or reskilling.

Look at your current strengths and weaknesses

A personal SWOT analysis can help you with this—what are your strengths (current skills) and weaknesses (what to improve or your skills gap against market demands), the opportunities (available ways to learn), and threats (what may get in the way of learning)?

Set your career objectives and trajectory

Ask yourself what you want to achieve with the training and how it should help you with your career plans. Your answer will easily determine whether you need to expand your current skills in your field or learn new ones. However, you should be open to the possibility of doing both in the next few years.

Select and undergo upskilling or reskilling activities

With the information on hand, it's time to pick the upskilling courses or reskilling training you need.

Aside from free or paid programmes on sites like Udemy, Coursera, or SkillShare, there may also be a professional body in your country that offers training and industry-recognised qualifications for added credibility. For instance, in Singapore, there's Workforce Singapore or SGUnited Mid-Career Pathways Programme. If your employer is offering, you may also look into in-house training.

Apply what you learnt

Put what you learnt into practise to see if you picked up anything and stay proficient. You can also share your learnings with your team.

But aside from applying the knowledge in your current role, you can also dabble in other functions where they may be valuable, whether that means working for a different team within the organisation through job shadowing or swapping, applying for an internship, or venturing into a new company.

Make learning a lifelong endeavour

As mentioned, know that there's a chance you may have to undergo more skills training or do both upskilling and reskilling. Changes will continue to happen inside or outside your industry; thus, you need to review and update your skills learning plans to adapt to these shifts.

Reskilling or Upskilling? The Choice is Yours

Whatever your reasons are for educating yourself, and whether you choose to reskill or upskill, you will undoubtedly get the chance to expand your knowledge and use that to accomplish things that make you happy or satisfied.

What else do you need to adapt to the future of work? Read more employee insights on our Career Resources page. For more tips from JobStreet, download our app on Google Play and the App Store for easier access.