Upskilling: Why Companies in Canada Need to Invest in Skills Development

20 of December, 2022

Upskilling is the process of improving the skills and knowledge of existing employees. Typically to increase their job performance or to equip them for higher-level roles. It is an essential part of any business’s growth strategy.

In Canada, it is becoming increasingly important as businesses look to remain competitive in an ever-changing workforce. In this blog article, we will discuss the importance of upskilling in Canada.

We will provide employers with strategies to help them foster and support upskilling initiatives. We will also look at the challenges of upskilling in Canada and provide examples of successful upskilling initiatives.

What is upskilling?

Upskilling is the practice of helping existing employees build the skills and knowledge they need to perform their jobs better or to transition into higher-level positions.

It is an important part of any business’s growth strategy, as it can help to bridge the gap between existing skills and the skills needed to succeed in an ever-changing economy.

Upskilling differs from traditional employee training in that it focuses on the development of existing employees, rather than the recruitment of new employees.

Additionally, it is often tailored to a specific individual, rather than a generalized program. As such, upskilling can provide employees with a more personalized and comprehensive understanding of their job roles and how to best utilize their skills.

The Benefits of upskilling for Canadian businesses

Upskilling can benefit Canadian businesses in a number of ways. Firstly, it can help businesses to remain competitive in the global economy by equipping their employees with the skills and knowledge necessary to succeed. This action also improves company culture efficiently.

In addition, upskilling can help to reduce turnover by motivating existing employees and boosting their job satisfaction. It can also help businesses to save money by reducing the need to recruit and train new employees.

Upskilling can also help businesses to remain agile and responsive to changing market conditions. By training and developing existing employees, businesses can quickly respond to changes in demand or customer preferences.

Statistics on upskilling in Canada

According to a recent survey by the Conference Board of Canada, nearly 75% of Canadian employers believe that upskilling is important for their business. In addition, more than 55% of employers reported that they are currently offering upskilling opportunities to their employees.

The survey also found that most employers (81%) believe that upskilling is an important part of their business strategy. Also, nearly 70% of employers reported that they are willing to invest in upskilling initiatives.

The majority of employers are reporting that they are willing to invest up to one-third of their training budget in upskilling initiatives.

Examples of upskilling initiatives in Canada

There are many successful upskilling initiatives taking place in Canada. For example, in 2017, the Government of Canada launched its Pan-Canadian Professional Certification Program.

The program provides funding for individuals to obtain trade certifications in a range of industries, including construction, manufacturing, and technology. The program has been successful in helping individuals to upgrade their skills and to transition into higher-level positions.

Another successful upskilling initiative is the Canada Learning Code, which provides coding and digital literacy training to Canadians of all ages. The program has been successful in providing individuals with the skills and knowledge necessary to succeed in the digital economy.

Finally, some Canadian businesses have launched their upskilling initiatives. For example, the Canadian Tire Corporation has launched the “Upskill & Grow” program, which provides employees with access to online learning resources and mentorship from industry experts.

The program has been successful in helping employees to develop their skills and knowledge and to transition into higher-level roles.

Challenges of upskilling in Canada

While upskilling can be beneficial for Canadian businesses, there are several challenges associated with it.

Firstly, upskilling can be expensive and time-consuming, as it requires businesses to invest in training and development resources. Futhermore, it can be difficult for businesses to identify the skills and knowledge that their employees need to succeed.

Another challenge is finding the right upskilling initiatives for their employees. There are many upskilling programs available, this is true. However, it can be difficult for companies to determine which ones are the most effective and which ones will best meet the needs of their employees.

Finally, upskilling can also be not so easy to implement. Businesses need to ensure that their upskilling initiatives are effective and that they are providing their employees with the best possible training.

Besides, they need to ensure that their upskilling initiatives are well-aligned with their overall business strategy.

Strategies for upskilling in Canada

To successfully implement upskilling initiatives in Canada, businesses should take some steps.

Firstly, businesses should assess the skills and knowledge of their existing employees, and identify the areas in which they need to upskill. This can help businesses to develop targeted upskilling initiatives that will best meet the needs of their employees.

Businesses should also conduct research to identify the most effective initiatives and the ones that best meet their budget and time constraints.

In addition, businesses should consider partnering with outside providers, such as training companies or educational institutions, to develop upskilling initiatives.

What employers can do to support upskilling

To support upskilling initiatives in Canada, firstly, employers should assess the skills and knowledge of their existing employees, and identify the areas in which they need to upskill. This will help employers to develop targeted upskilling initiatives that best meet the needs of their employees.

Futhermore, employers should create a supportive environment for upskilling initiatives. This can include providing employees with access to resources, such as online courses or mentorship opportunities. As well as providing them with the flexibility to attend training or to pursue other upskilling opportunities.

Employers should also consider partnering with outside providers. This can help employers to ensure that their upskilling initiatives are effective and comprehensive. Using Sesame you can track talents and upskill their abilities to turn them into leaders.

Conclusion

Upskilling in Canada, it is becoming increasingly important as businesses look to remain competitive in an ever-changing workforce. By investing in upskilling initiatives, businesses can equip their employees with the skills and knowledge they need to succeed in the modern economy.

Besides, businesses can benefit from cost savings, increased job satisfaction, and improved agility and responsiveness to changing market conditions.

It is important to create a supportive environment for upskilling initiatives and partnering with outside providers. Keep reading Sesame‘s blog to stay updated of all HR news and trends righ now.