Why Upskilling Fails to Deliver Employee Engagement
The Cost of Ineffective Upskilling Programmes
Irrelevance. That’s what everyone is implicitly trying to avoid when they speak about upskilling. The conundrum is, employees fear being laid off in favour of new talent, or robots, but companies need to constantly innovate or risk falling behind their competitors.
The pandemic and its catastrophic effects on the economy have only further stoked these fears. More than ever, employees are attending courses, whether on their own volition or their companies’, to keep themselves and their organisations ahead of the pack. As a result, demand for upskilling is at an all time high.
70% of employees in Singapore express a desire to stay relevant by attending courses and globally, the projected growth for the corporate e-learning market between 2020 and 2024 is a whopping $38 billion!
Yet, it seems HR departments are failing to capture their colleagues’ attention with their in-house training programmes. According to an article in Singapore, most employees prefer attending courses outside the workplace. Which shows there might be a disconnect between what companies are offering, and what employees expect.
The cost of ineffective upskilling programmes
According to The Industry Report, companies spend an average of over $1,000 per head on training programmes. As with most business expenses, this high level of expenditure only makes sense if companies get back their dollars’ worth in terms of increased productivity. This is especially so for larger organisations, where larger headcounts can lead to escalating costs. And money’s not the only concern.
Time spent training is time spent away from work. On average, companies spend up to 102.6 hours training their employees, the equivalent of more than twelve business days.
When you’ve invested that level of resources into your employees, it can be discouraging to hear research in Singapore that shows 46% of employees are not interested in courses that are offered to them. This is despite 86% of millennials saying that they would stay in positions where training and development programmes are offered. What gives?
Employees don’t have access to skills that they want
The picture becomes clearer when you take the current job market into account. We live in a time when formal qualifications are depreciating in value and demand for candidates with practical skills and proven track records are high. There’s also the looming threat of A.I. threatening to make many jobs redundant.
Training programmes that are given the green light don’t engage employees because they do not equip them with the skills that they wish to learn. Because of limited budgets, companies are often only willing to invest in skills that directly relate to the employee’s job scope. On the flip side, employees want to expand their horizons by exploring new areas.
But multi-disciplinary and multi-skilled individuals can bring much value to companies, especially during a time when remote and hybrid work is proliferating. With limited in-person guidance, employees who can pick up new skills and manage cross department issues independently are incredibly valuable.
Upskilling requires more time and commitment than companies can afford
Companies don’t realise just how much employees wish to upskill.
A 2021 study by PWC astonishingly revealed that 77% of employees are even willing to completely retrain, just to provide themselves with more employment options.
The reality however is that learning new skills takes time - far more than many companies are able to spend. 1 in 2 employees also find themselves too busy with increased workloads impeding their ability to find time to focus on improving themselves.
Here’s a breakdown of what it takes to pick up some of the more in-demand skills:
- Most software programmers agree that it takes three to six months of practice to grasp the basics of coding.
- Attaining basic fluency in a foreign language can take anywhere between 480 to 720 hours of study depending on how close it is to your native tongue.
- To become a licensed attorney, students have to spend 400 to 600 hours studying to pass bar exams.
- The average CFA candidate takes 4-5 years to pass all three levels of the exam, spending an average of 300 hours for each level.
The time investment required to effectively upskill is so large that it can only be realistically achieved if employees are self-motivated enough. That sort of enthusiasm can hardly be fostered if employees are constantly fed programmes that they didn’t ask for.
It makes much more sense for training programmes to be tailor-suited to individuals which will meet the demands of 9 in 10 employees, who want their upskilling journey to be personalised. On the company’s end, regular check-ins and conversations with employees can help ensure that employees are on track with their upskilling goals, and also allows both parties to figure out a way to incorporate their newfound skills into the business.
Help employees realise their full potential with personalised training
Upskilling and development does not have to feel like a chore. Let employees customise their own skills packages and schedule their own lessons so that they can learn in a time and setting that is optimal for growth. Select from CoachHub’s global pool of over 3,500 certified business coaches, to find one who resonates best with your employees. Through micro-learning sessions and daily reflections, you can be sure that your employees will be engaged and learning, in a way that benefits them, and their company.
At CoachHub, we believe in the power of aligning individual growth with organisational objectives. Our dedicated coaches work closely with coachees to ensure that their growth plans are directly linked to your company's overarching goals. This includes addressing specific leadership development needs within different departments or teams, and recognising that each area may have unique challenges and requirements.
To achieve this alignment, we collaborate closely with our clients and their senior leaders, taking the time to understand their organisation's specific challenges, objectives, and organisational culture well. By gaining deep insights into your company's dynamics, we can tailor coaching plans that address the specific needs of different teams and individuals.
Our approach is highly customised and adaptable. We recognise that each coachee has unique requirements, and we leverage our expertise to develop coaching plans that are relevant and effective for all participants, regardless of their role or level within the organisation. Whether it's helping to develop leaders, retain talent, improve leadership skills of middle management, or support C-suite executives, our coaching programs are designed to cater to diverse needs and ensure maximum impact.
By aligning growth plans with your company's objectives, we create a cohesive approach that enhances overall organisational success. Our coaches help coachees identify areas for improvement, set meaningful goals, and develop actionable strategies to bridge the gap between their current competencies and the desired leadership abilities. This alignment not only facilitates personal and professional growth but also contributes to the long-term success of your organisation.
With CoachHub, you can be confident that our coaching programs are tailored to address the specific leadership development efforts within your organisation. By collaborating closely with our clients, we ensure that our coaching plans are relevant, effective, and aligned with your company's objectives, driving growth and excellence across all departments and levels.
At CoachHub, we understand the importance of scalability when it comes to your leadership development program. That's why our programs are thoughtfully designed to accommodate a large number of participants simultaneously, ensuring that organisations of all sizes can benefit from our services. Whether you have a small team or a global workforce, our coaching platform is equipped to handle the scale.
With our advanced digital coaching platform, we bring high-quality coaching directly to employees all over the world. The beauty of our online sessions is that participants can access them from anywhere, at any time. This flexibility empowers employees to engage in coaching without geographical constraints or time zone limitations. Whether they're working from home, travelling for business, or stationed in a different country, our platform ensures that they can easily connect with their coach and participate in sessions at their convenience.
The digital nature of our coaching platform also means that participants can enjoy a consistent and seamless coaching experience, regardless of their location. Through video calls, instant messaging, and other interactive tools, our platform fosters a sense of connection and engagement between the coaches and participants. This virtual environment not only saves time and resources but also allows for regular and ongoing coaching support without the need for in-person meetings.
By leveraging the power of technology, our scalable coaching programs break down barriers and provide accessible coaching solutions to organisations and individuals around the globe. Whether it's a small team or a multinational corporation, our platform ensures that every participant can benefit from high-quality coaching, anytime and anywhere.
Absolutely! CoachHub's leadership development program is designed to seamlessly integrate with your existing talent development and performance management initiatives. We understand that every company has its own unique needs and goals, and that's why our coaching sessions are completely tailored to meet those requirements. Whether you're looking to strengthen leadership skills, foster personal growth, or achieve organisational success, our program aligns perfectly with your company's specific objectives.
By customising our coaching sessions, we ensure that each individual receives the guidance and support they need to thrive. We take the time to understand their strengths, challenges, and aspirations, and then craft a coaching experience that caters to their personal growth journey. This way, we can provide targeted development opportunities that directly contribute to their success within your organisation.
When you integrate our program with your leadership development efforts and performance management initiatives, you create a powerful synergy. Our tailored approach complements and reinforces your existing efforts, allowing you to build a comprehensive framework for maximising the potential of your workforce. Together, we can create an environment where employees are motivated, empowered, and equipped with the skills they need to excel.
So, rest assured that with CoachHub's leadership development program, you can easily integrate coaching into your existing initiatives and achieve remarkable results that align with your company's requirements.
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