Develop an Upskill Training Program That Delivers Value
Skill development and employee training programs can make a huge positive impact on your organization, if approached the right way.
Ongoing learning is the best way to ensure your workforce can meet today’s needs and will be ready to face tomorrow’s challenges. Achieving this agility within your organization requires your learning and development (L&D) upskilling program to run like a well-oiled machine.
But, first, you need to build the machine in a way that creates value that is easy to see.
Upskill training that aligns with business goals
C-suite executives across industries have embraced L&D as a tool to accelerate business growth, and it’s up to your team to create the program that enables this continual upskilling.
Here’s a look at what some of the overarching goals of a value-driven upskilling program should be.
Build an agile workforce
Developing skills that ensure your workers and teams are prepared to pivot at a moment’s notice means your business can succeed in the face of whatever comes next – be it a challenge or an opportunity.
Agility is often discussed in terms of being prepared to meet difficult times. This is a valid concern, considering nearly everyone working today has faced economic recession and disruptive world events within their lifetime.
However, there is even greater value to be realized in being prepared to meet opportunities. As an L&D leader, cultivating a growth mindset in your learners can inspire the innovation that helps your business evolve.
Increase employee retention
Creating a culture of learning within an organization has proven to be a key factor in increasing employee engagement and retention.
The latest LinkedIn Workplace Learning Report found that 93% of organizations are concerned about employee retention and view learning opportunities as the No. 1 way to improve retention.
Support career pathing
Your next leaders may already be at your organization – they simply need the ongoing upskilling support to usher them from where they are now to those seats at the C-suite table.
The Workplace Learning Report found that at the two-year mark:
Employees who have had one internal move have a 75% likelihood of staying.
Employees who have not made an internal move only have a 56% likelihood of remaining.
These goals work together to create value. Internal mobility and employee retention go hand-in-hand and ultimately result in an agile and motivated workforce.
Companies that excel at internal mobility retain employees for an average of 5.4 years. That’s nearly twice as long as companies that struggle with it, where the average retention span is just 2.9 years.
Learning metrics that demonstrate value
Upskilling and reskilling a workforce is a long-game investment, but it can have more immediate returns. Being able to share metrics that demonstrate the value of your program is necessary for proving its worth as a driver of business results.
Here are some metrics you should be tracking.
Improved performance reviews
A successful upskill training program is reflected in individual performance. Once your workers and teams have adopted new skills, their utilization of these skills will positively impact their daily work, and supervisors and managers will notice.
Learn more: 5 Ways to Put Learning at the Center of Performance Reviews
Team and organization business metrics
When your upskilling program is aligned with business goals, the results will show in other metrics you’re tracking. These include team performance such as efficiency numbers or employee hours per task, as well as larger organizational metrics such as sales revenue, churn rate, and cost of customer acquisition.
Improved employee productivity
There are endless upskilling opportunities around gaining efficiencies in both personal performance and as teams. Whether it is learning how to better manage time or adopting a new software solution that eliminates repetitive tasks, these wins will be reflected in improved employee productivity numbers.
Learn more: Developing Employees and Improving Performance
Progress toward closing workforce skills gaps
As hiring trends have shifted focus from traditional career-track experience to specific skills competency, there may be people within your workforce who have top-notch soft skills but lack specific hard skills to excel in their role. Closing these skills gaps is both an important metric to monitor and a significant factor in increased employee retention.
Achieving a value-oriented upskill training program
Aligning your program goals with business objectives and knowing which metrics to use for meaningful insight are a great foundation. The next step is using the L&D tools available to you to ensure you are creating a robust upskilling program.
Individualized career pathing
Creating career pathing plans for your workforce will ensure you are getting the best of what your employees have to offer. Investing in upskill training that aligns with the goals of both your worker and the organization will help your workforce optimize their existing skills and develop their greater potential.
Leveraging technology for flexibility
With more remote and hybrid employees in the workforce, using online learning platforms can provide your employees with a variety of learning opportunities that meet their individual needs while still hitting organizational targets.
Let LinkedIn help bring value to your upskilling strategy
We have a full library of resources to aid you in developing your upskill training program. Here are a few to get you started: