In the rapidly evolving job market, upskilling has become an important aspect for both employees and the organization. According to the report released by the World Economic Forum, 44% of workers’ core skills will change in the next five years. This means that nearly half of the global workforce will need upskilling sessions to stay updated.
The organization that invests in upskilling programs for employees not only future-proofs their workforce but also sees real and measurable returns.
Upskilling programs for employees enhance their skills and increase their work efficiency. In this blog, we will explore the upskilling programs for employees by analysing their impact and ROI.
Why Upskilling Matters?
Upskilling programs for employees matter because of the rapidly growing technological advancements, automation, and evolving business models. Those lacking digital and up-to-date skills are going to be left behind.
According to the World Economic Forum, approximately 50% of the employees will need reskilling by 2025. Emerging technologies like cloud computing, data analytics, and AI automation are transforming traditional roles, and in such an environment, yesterday’s knowledge cannot guarantee today’s success. Organizations must ensure that the workforce learns continuously with the evolving technologies.
Employee’s Professional Growth:
A recent study by LinkedIn’s workplace learning report found that 94% of employees said that they would stay at work longer if it helped them learn and grow.
Most of the employees prioritize personal growth and development over perks like bonuses and free lunches.
Those organizations that are not investing in upskilling programs for employees face work delays. Skill mismatch slows down productivity, delays work, and companies have to outsource their work, which often costs more. The approximate cost of replacing an employee is often 50 to 200% of their annual salary.
Understanding ROI in Upskilling Initiatives
Investing in upskilling programs for employees can feel pointless initially, but it may give you higher returns in numbers and efficiency. Upskilled employees are confident and efficient in their work, leading to faster completion of the work.
Employee retention: Companies that invest in upskilling programs for employees have approximately 2.5 times higher retention rates than those that don’t. When employees see a future with the organization, they do not look elsewhere.
Upskilling programs for employees provide ROI benefits, like reduction in onboarding times, fewer support tickets, enhanced collaboration, and improved morale.
Building a High-Impact Upskilling Program for Employees
Investing in upskilling sessions online can be a challenging task, but here’s a list of high-impact skills that will help your employees learn faster.
Choosing the Right Learning Method – Online/Hybrid/Offline
The selection of the right learning method is important for investment as well as for the employee’s performance.
- Online Method: The online learning method is self-paced and ideal for global teams. Conducting upskilling sessions online may result in improved efficiency among the employees.
- Hybrid: The hybrid model is considered the best method and provides greater flexibility and learning experience.
- In-person: Great for leadership roles and building skills like problem-solving and collaboration.
Aligning upskilling programs with Business Strategy
The first step to create an upskilling program for employees is to analyse which business problem will be solved with this program. Whether it is the reduction of external hires or you are upskilling employees to keep up with the technical advancements, the upskilling must align with the business strategies.
Tracking the Outcomes and Setting Goals
A strong upskilling program has an achievable and clear goal. It can either be increasing the internal promotion rate in 12 months or reducing time-to-productivity for newer roles. Upskilling programs for employees must be analysed based on metrics like performance improvement post-training sessions, retention rates, and assessment scores.
Overcoming Challenges in Upskilling Programs
Upskilling programs are challenging to manage. Many organisations struggle with low participation and leadership indifference. Top executives must see the upskilling programs for employees as a business strategy and not as a side project.
Consider offering incentives or peer recognition to initiate participation in upskilling programs and make them a big success.
How HerKey Is Redefining Upskilling Programs for Employees
At HerKey, we believe that upskilling is not just a business investment — it’s a movement to unlock true potential, especially for women. With over 5 million aspirational women professionals on our platform, we understand that the path to career growth often starts with the right learning opportunities.
That’s why HerKey offers tailored upskilling programs for employees, designed to align with evolving industry needs while addressing the unique challenges women face at different career stages. Whether it’s returning to work after a career break or rising to leadership, we ensure that the right upskilling paths are always accessible.
HerKey bridges the gender gap in workforce development by offering upskilling sessions online, delivered in collaboration with 1,500+ learning partners. From technical certifications to soft skills development, our sessions are curated to help women build future-proof careers, all while balancing personal responsibilities.
Upskilling is the Smartest Investment You Can Make!
No doubt that upskilling programs for employees come with a huge cost, but it’s a massive investment and provides great ROI if done effectively. Learning shouldn’t feel like an extra task; it should be embedded in the everyday tasks of the employees to build better teams.
The real ROI of a company goes beyond numbers; it’s about creating a culture that makes the employees feel valued and supported.
At HerKey, we help you lead that change, it is a community dedicated to connecting women to opportunities, mentors, learning resources, and companies that commit to diversity. Let’s redefine growth together. Discover how HerKey can support your upskilling strategy.
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