Before you apply for a job, you might spend hours learning a particular set of skills to thrive in that industry and role. Then you land your dream job — that’s great! — but learning and expanding your skill set isn’t over. In order not only to grow in your role, but to stay in it, you’ll need to upskill. Upskilling is when you learn new skills on the job that build upon your current skill set. It can be a powerful tool for your professional growth, job satisfaction, income, and career prospects.
In this guide, we’ll walk through why upskilling is so important, especially in 2024, and give you tangible tips on how you can start upskilling right away.
Upskilling is when you learn new job skills, either independently or from your employer, that relate to your current skill set. Essentially, upskilling is leveling up your current skills, either by delving deeper into what you already know how to do, or learning skills that relate to ones already within your wheelhouse.
For example, as a writer, the first skills I learned were, not-so-surprisingly, writing skills. In my current role, I’ve practiced upskilling by learning skills related to writing, like research, proofreading, editing, pitching, and finding sources. All of these skills are content skills that build upon what I already knew how to do and help me grow in my current role.
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Upskilling vs. Reskilling
What’s the difference between upskilling and reskilling? While both areas are about learning new skills, they differ in what you’re learning new skills for.
Upskilling is about learning new skills to be better at your current job and in your current career path. Reskilling is when you learn new skills for a different job or function.
Companies may reskill their employees when they need to fill a hiring gap. Employees may do so when they want to change careers.
Why Is Upskilling Important for Employees?
In 2024, upskilling is a crucial part of not only maximizing your career success at your current job, but also ensuring you’re staying up to date with industry and world trends.
“An employee’s ability to upskill is important because it allows an individual to grow professionally during their career as well as grow personally by learning a new skill,” Olga Eippert, people operations professional, says. “Upskilling helps employees to improve their flexibility, adaptability, productivity, and efficacy – all of which can help the employee to perform their job duties better and more efficiently. Employees who upskill themselves are more likely to succeed in their career and have better career options overall.”
Growing Your Skill Set Without Getting a New Job
Generation Z is known for job-hopping. According to the National Society of High School Scholars, one of their main reasons for doing so is to upskill. A majority — 67% — of Gen Zers want to work somewhere where they can improve their skills.
But what if you like what you’re doing, your company, and coworkers — but just want to develop your skills? If you like your current position, but still want to grow, you can upskill within your company. Upskilling is especially feasible if the skill aligns with your company’s business goals, fills a knowledge gap, or helps you do your job better. It’ll be easier to make a business case to your employer if you ask for resources to learn a skill they’ll benefit from.
Upskilling can make you feel more confident, capable, and productive in your role, all of which can improve your job satisfaction. According to a survey from Amazon and Gallup, 71% of workers who participated in upskilling said that they agree or strongly agree that upskilling increased their work satisfaction.
Satisfaction doesn’t just stop with work. In the same study, nearly two in three workers said upskilling also improved their standard of living and quality of life.
According to research from McKinsey, skills you learn on the job contribute to nearly half — 46% — of the average person’s earnings throughout their lifetime.
Upskilling can help you learn the skills you need to take the next step in your career. It can help you land that promotion or higher-level role at another company, with a raise or more money in your pocket. According to Amazon and Gallup, workers who take advantage of training opportunities — inside or outside of their employer — raise their pay by an average of 9%.
Protecting Your Current Role
Unfortunately, upskilling can also be a matter of survival, especially in an economic market full of layoffs and a professional world of rapidly changing technology.
“With a continued talent shortage, as well as rapid and continued changes in everything from software and automation, to collaboration and leadership expectations, keeping current on the skills needed is no longer just a matter of getting the top salary you want, but of being able to stay within the scope of the job you’re currently in,” Ginger Auchter, director of scientific talent at Carex Consulting Group, says. “Like a product not invested in and kept up-to-date, those that don’t stay current will find themselves passed over and trying to catch up.”
For example, as a writer, the widespread use of tools like ChatGPT definitely makes me more concerned about my career. However, I’ve focused on upskilling to ensure that I use these tools to my advantage and increase my impact at work. I’ve practiced my prompt engineering skills to learn how to use the tool to help with content brainstorming, and improved my editing skills to practice revising and proofreading, which comes in handy when dealing with AI-produced content.
Why Is Upskilling Important for Employers?
Offering upskilling opportunities is an excellent way for employers to retain talent and improve their business model.
Fills the Skills Gap
When a company is looking for specific skills to get a job done, upskilling can be a great way to fill the skills gap without hiring a new employee.
“Regardless of company size, geography, or industry, employers are coming to the realization that the talent shortage is here to stay,” Auchter says. “There are very few tools companies have to overcome this, but arguably one of the fastest, easiest, and most cost-effective is to work with and upskill the great employees they already have. Upskilling is a win for the company, a win for the employee, and a win for the economy.”
Maximizes Employee Potential
“Very few — if any — companies have fully skilled people in every role in the company,” says J.R. Lowry, founder of PathWise.io, a career coaching company. “You have to be focused on strengthening the skills of your employees, to improve the effectiveness of the organization, to build bench strength, to create succession, and to enable growth. Upskilling your employees is as existential for you as an employer as it is for the employees themselves.”
Employee satisfaction isn’t just good for the employee — it can make them more productive and efficient and even improve their quality of work.
“Upskilling can further contribute to improving morale, improving employee engagement, improving employee satisfaction, and improving employee performance within an organization,” Eippert says.
Hiring and Retaining Employees
“Upskilling is both a talent acquisition and retention strategy,” says Joe Mull, employee leadership, engagement, and retention expert. “Helping employees who already know the organization add to their skill set typically comes with lower costs than attempting to recruit and onboard new talent. At a time when there are more jobs than people to fill them in nearly every industry category, upskilling programs help employers keep good people and demonstrate to potential new hires that joining the organization can lead to an evolving career path, rather than a static job with no future.”
When companies focus on upskilling their employees, they retain talent better. According to McKinsey, companies who invest in their people have attrition rates about five percentage points lower than their counterparts.
How to Start Upskilling
We know upskilling is essential not only for your career growth but it can boost your job satisfaction and income, too. But how can you upskill, even if your company doesn’t have clear upskilling opportunities?
1. Take Ownership
Upskilling starts with you, not your employer encouraging you to learn new skills.
“Regardless of your level in the foodchain, figure out what you’ll likely be doing over the next few years — remember, YOU are driving the bus — and what knowledge/skills you’ll need in order to complete,” says Bill Catlette, executive coach and partner at Contented Cow Partners, a leadership development firm. “Whether it’s via employer-provided learning or secured on your own, take ownership of your upskilling. Approach your professional development in the same fashion and with the same intensity that every star athlete does!”
2. Be Specific With What Skills You Want to Work On
There are tons of skills you can learn: digital and technology skills, business skills, hard skills and soft skills, to name just a few. So, which ones should you pursue?
“When assessing the skills you want to focus on first, take a step back and look at both your broader company, as well as the broader industry,” Auchter says. “What isn’t currently a strength but is needed for a promotion to a more senior role in your company? Also look at active job postings with companies you admire and see what is listed as a requirement for a dream role you aspire to, and would eventually like to apply for.”
Further, if there’s anything else your manager or coworker has commented on in your reviews, consider if there’s a skill you can learn that addresses their feedback. You can ask them what skills they find valuable or think you could benefit from.
3. Take a Forage Job Simulation
Forage job simulations are online programs that help you build job skills in a real-world context. For example, if you take a JPMorgan Investment Banking job simulation, you’ll select M&A targets for a client, perform a target company deep dive, and prepare a discounted cash flow valuation based on the forecasts you receive from the client.
Simulations are free and self-paced, which means you can join them at any point in your job search or career process. Forage offers job simulations to help you upskill a variety of skill sets:
|Forage job simulation to upskill with
|Marketing skills, like strategic and analytical thinking, developing marketing plans, and product strategy
|lululemon Omnichannel Marketing
|Consulting skills, like brainstorming, creative thinking, and innovative solutions
|BCG Introduction to Strategy Consulting
|Data skills, like data modeling, analysis, and understanding
|Accenture Data Analytics and Visualization
|Software engineering skills, like basic programming, Python, Git, and web applications
|JPMorgan Chase Software Engineering
|Customer service skills, like active listening, communication, research, and empathy
|Fidelity Customer Service
|Sales skills, like overcoming objections, account management, and strategy
|Red Bull On-Premise Sales
|Project management skills, like Agile, synthesizing, and presenting
|Accenture Project Management
|Goldman Sachs Excel Skills
4. Get Certified
Another great way to upskill and boost your qualifications is to get a certification in your field. There are more formal certifications across fields, like certified associate in project management (CAPM) for project managers, chartered financial analyst (CFA) for accountants, and professional in human resources (PHR) for human resources professionals.
You can also get certified in specific skills through platforms like LinkedIn or Google. For example, you might get a UX design or data analytics certification, or even a certification in soft skills, like leadership or conflict resolution.
5. Work With a Mentor
You can also upskill in informal ways, like working with a mentor. Finding a mentor is a highly personalized way to get feedback on your current skill set, find areas of improvement, and check-in on your progress in real time.
The most crucial part is figuring out who you’d like to be your mentor. You might find someone within your company, but it’s OK to look outside too. Anyone who has the skills you’re hoping to develop can be helpful.
Once you establish a connection, be sure to set clear expectations and an actionable plan for how you want to go about setting goals and defining progress.
6. Identify SMART Goals
You shouldn’t just set a goal to “learn X skill.” Set SMART goals and get specific about:
- What skill you want to learn
- Why this skill is important to you and your company
- When you’ll learn this skill
- How you’ll learn this skill
- How you’ll prove whether you’ve mastered the skill
>>MORE: Practice setting SMART goals in an education setting with Teach for Australia’s SMART Goals Virtual Experience Program.
7. Make a Business Case
If what you’re doing will require ample resources, like time out of your workday or money, you’ll need to make a business case for why you’re upskilling.
Go beyond how this will benefit you and consider the business: would this help fill a hiring gap? A knowledge gap? Could this help your company complete a task more efficiently or save money on some software?
To make your case, start by asking your manager.
“[Your manager] is going to be able to offer direction and guidance on what types of upskilling opportunities you should focus on that will advance your career,” Steven Waudby, senior recruiter at Delta Hire, says. “They will also be able to share details about any company-sponsored continued education or upskilling efforts. Additionally, when it comes time to review salaries and potential promotions, a manager will typically prioritize those who have asked for growth opportunities over those who are content with their current role and skill set.”
8. Believe in Yourself
It may sound cheesy, but upskilling can be difficult, especially if there’s no formal support or structure for it at your company.
“Learning a new skill is not easy, so often people shy away from learning something that they find initially difficult,” Eippert says. “To be successful in upskilling, it is important to adapt a growth mindset and view learning as something positive that gives you pleasure or helps you to grow.”
9. Share What You’ve Learned
What’s the point of learning a new skill if you don’t put it into practice?
“The most valuable upskilling isn’t just about taking a course or gaining a certificate, but using and honing those skills and knowledge once you get them,” Auchter says. “Actively seek out ways to practice and perfect these skills in your current role, volunteer roles, or any other opportunity you can.”
When practicing your skills, you should also track how these skills benefit you and your company. Like any other project, you want to know the results — and prove that your upskilling is making a real impact on your career.
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