Reskilling, Upskilling, Cross-Skilling: How to Build Your Dream Workforce

In fact, it has been estimated that up to 85 million jobs could be displaced by 2025 because of machines and new technology, but 97 million new roles are expected to be created as a result. It’s also predicted that an employee’s core skills will change by 40% even if they stay in the same role.

This is why reskilling, upskilling and cross-skilling have become crucial elements in building a successful workforce. This is no longer an option but a necessity for employees and employers alike.

These terms refer to the process of acquiring new skills or enhancing existing ones to keep up with the demands of the industry.

In this article, we will explore the importance of reskilling, upskilling and cross-skilling and how they can help build your dream workforce. We’ll also discuss the benefits of investing in your employees' skills and how it can help your company stay competitive in the market.

So let's dive in and discover how you can transform your workforce and take your business to the next level.

The importance of building a dream workforce

In today's competitive job market, building a dream workforce has become more critical than ever before. A dream workforce consists of employees who are highly skilled, motivated and passionate about their work. These employees are the backbone of any successful company, and they’re the ones who drive growth and innovation.

A dream workforce is essential for companies to stay competitive and adapt to the changing demands of the industry. It’s also crucial for attracting and retaining top talent, with 76% of professionals saying that a company is more appealing if it offers opportunities for training and upskilling to staff. 

One of the key factors in building a dream workforce is investing in your employees' skills. Reskilling, upskilling and cross-skilling are essential components of this process. By providing your current employees with the necessary training and development opportunities, you can ensure that they have the skills they need to excel in their roles. This, in turn, will help your company stay ahead of the competition and achieve its goals.

Another important aspect of building a dream workforce is creating a positive work culture. Employees who feel valued and supported are more likely to be engaged and productive. Creating a culture of continuous learning and development can help foster this sense of support and value. When employees feel that their employer is invested in their growth and development, they’re more likely to stay with the company long-term and contribute to its success.

What is reskilling, upskilling and cross-skilling

If the last few years have taught us anything, it’s that employees are very capable of adapting to big changes in the workplace. The pandemic saw millions of people having to adjust to working from home, while others lost their jobs and  had to quickly find new positions.

This has made strengthening their skills and employability a top priority for many professionals, with 55% saying they’re already seeking learning and development opportunities outside of work. Being able to offer these types of opportunities within the workplace is great for the culture, and it can engage and retain your best workers.

But what exactly do we mean when we talk about reskilling, upskilling and cross-skilling?

1. Reskilling

Reskilling refers to the process of learning new skills or transitioning to a different job role. This is becoming increasingly important as advancements in technology and automation are making many traditional job roles obsolete. The demand for new skills is growing rapidly, and companies need to adapt to stay relevant.

Reskilling also allows employees to acquire the skills they need to be successful in new roles and can provide them with new opportunities for growth and development.

For employers, reskilling can be a cost-effective way to meet the changing demands of the industry. Rather than hiring new employees with the necessary skills, employers can invest in their existing workforce and provide them with the training programs they need to succeed. This can also help companies retain top talent and reduce turnover.

2. Upskilling

Upskilling involves enhancing or upgrading existing skills to make them more relevant to the current job market. This is important because it allows employees to stay relevant and competitive and adapt to changes in their chosen industry. It can also help employees take on more complex roles and responsibilities, which can lead to career advancement and increased job satisfaction.

Upskilling can also provide employers with a competitive advantage. By investing in their employees' skills, companies can ensure that they have the talent they need to succeed. This can help companies stay ahead of the competition and achieve their goals.

Learn more: Design the Perfect Upskilling Strategy in 6 Steps

3. Cross-skilling

Cross-skilling refers to the process of learning skills in multiple areas or job roles. This is important because it allows employees to be more versatile and adaptable, as they can take on new roles and responsibilities within the company. This can be a valuable tool for career advancement and can help them stay relevant in their field and increase their earning potential.

What’s more, cross-skilling is also beneficial for employers. By having employees with a diverse range of skills, companies can be more agile and innovative. Plus, it reduces the need for external hiring, as businesses can rely on their existing workforce to fill different roles.

How to identify the skills your workforce needs

Identifying the skills your workforce needs is an essential step in building your dream workforce. To do this, you need to assess the current skills of your employees and identify any gaps or areas for improvement. Interestingly, a staggering 87% of companies say they’re already experiencing a skill gap, or expect to within the next few years.

The best way to conduct a skills gap analysis is through performance evaluations, surveys or interviews with your employees. You should also speak to the leaders or subject-matter experts within your company. They’ll be able to advise on specific skills, training, resources, etc., that can help bridge the skills gap.

Finally, you should take a look at your business strategy, product or services roadmap, and your technology roadmap as well. This will help you to develop and define the future skills your teams will need; it’ll also help you to prioritize which are most important in the coming months.

Just be careful that when you’re evaluating future skills, you don’t give all your focus to technical skills. You also need to consider the softer, transferable skills that are going to continue driving your workforce and your business forwards.

Learn more: 5 Reasons HR Managers Shouldn't Ignore the Soft Skills Gap

Once you have identified the core skills your workforce needs, you can create a training and development plan to address these gaps. This plan should be tailored to the specific requirements of your employees and should provide them with the skills they need to be successful in their roles.

Techniques for reskilling, upskilling and cross-skilling

There are several techniques you can use for reskilling, upskilling and cross-skilling your workforce. These techniques include:

• On-the-job training: This means supporting employees with hands-on training and guidance in their current role, typically in the workplace
• Classroom training: This involves providing employees with formal training, this time in a classroom setting
• Online training: By giving employees access to online courses and resources, they can enhance their skills
• Mentoring and coaching: This involves pairing employees with a mentor or coach who can provide guidance and support as they develop their skills
• Job shadowing: Affording employees the opportunity to observe others means they can learn from their colleagues in different roles
• Cross-functional teams: Lastly, you could create teams made up of employees from different departments or areas of the company. This can help employees develop new skills and gain a better understanding of the company as a whole

Learn more: How to Utilize Upskilling and Continually Refresh Your Workforce

The role of technology in building a dream workforce

Technology plays a significant role in building a dream workforce. It can provide employees with access to training and development resources, such as online courses and tutorials. It can also facilitate communication and collaboration, which are two essential components of a positive work culture.

One of the most significant benefits of technology is its ability to automate repetitive tasks. This can free up your employees' time, allowing them to focus on more complex tasks that require human expertise. It can also help companies reduce costs and improve efficiency.

Another way technology can help build your dream workforce is by providing employees with access to data and analytics. This can help them to make more informed decisions and improve their performance. It can also help companies identify areas for improvement and make data-driven decisions.

Measuring the success of reskilling, upskilling and cross-skilling programs

Measuring the success of your reskilling, upskilling and cross-skilling programs is essential to ensure that they’re effective. One way to measure success is through employee feedback. Again, this will likely involve surveys or interviews to gather employees' opinions on the training and development programs you’ve put in place.

Another way to measure success is through performance evaluations. By tracking employees' performance before and after training, you can determine whether the program was effective in improving their skills.

You can also measure the success of these programs by tracking key performance indicators (KPIs). These can include metrics such as employee productivity, customer satisfaction and revenue growth. By tracking these KPIs, you can determine whether the training and development programs are having a positive impact on the company as a whole.

Creating a comprehensive plan

Creating a comprehensive reskilling, upskilling, and cross-skilling plan is essential to building your dream workforce. The first step in creating this plan is to identify the skills your workforce needs. As we mentioned, earlier there are several ways to do this, including performance evaluations, surveys or interviews. Once you have identified these skills, you can begin to create a training and development plan that addresses these gaps.

Learn more: How to Create a Comprehensive Employee Development Plan

Your plan should include a mix of the aforementioned training techniques, such as on-the-job training, classroom training and online training. It should also include metrics for measuring success, such as employee feedback and KPIs.

Final thoughts

Building a dream workforce is essential for companies to stay competitive and adapt to changes in the industry. Reskilling, upskilling and cross-skilling are crucial components of this process.

By investing in your employees' skills, you can ensure that they have the necessary tools to succeed in their roles. This, in turn, can help your company to stay ahead of the competition and achieve its goals.

So, take the time to identify the skills your workforce needs and create a comprehensive training and development plan based on this.

Your investment in your employees' skills will pay off in the long run, and you’ll have a dream workforce that is motivated, engaged and ready to take on any challenge.