Upskilling and reskilling - why should you invest in your team's development?

When you want to accelerate the development of your business, one of the challenges you will encounter is finding the right people for the organization. At this point, it is best to turn to HR specialists to help search for the specific needs of your company and analyze the current situation with your employees.

1. Why is it important to analyze the human resources you already have?

If you want the company to grow at a fast pace or to optimize its operations, you must rely on а "A-team", or in other words - the right professionals in various fields who will contribute with expertise and knowledge. It is very likely that you already have the required workforce for emerging roles without even knowing it.

Among your employees, you may come across people who would like to take on new responsibilities and more challenging tasks in their field of activity., But you may also find those who would like to retrain. Before deciding to post a job ad and start the recruitment process, take a look inside the organization.

2. What is the difference between the two processes?

Let's start by explaining the similarity, which is helping employees expand their knowledge. However, the difference is in the nature of the skills learned and the ultimate goal of the training. In the first case there is linear progression - deepening of  existing skills to take on additional responsibilities and advance to a higher position. The other refers to acquiring a new set of capabilities (hard or soft) in order to change career paths and take on a different role within the company.

3. What to do after you define the aspiration for upskilling or requalification?

If you have already found out about the presence of such an employee in your team - have a few conversations. If necessary, you take the initiative to talk about the topic. Try to understand what motivates them and why they made the decision. That way you can assess their commitment to the idea of ​​taking a new position (whether hierarchically or organizationally). Next, you'll need to assess their current skills and how to develop and realize their potential.

4. What are the benefits of upskilling?

Lack of career development is one of the main factors for turnover in companies, regardless of industry. In most companies, employees are motivated and career-oriented, with a desire to establish and prove themselves in their work field.

Investing in upskilling is an opportunity to increase productivity - every employee will appreciate the efforts and funds, invested by the company in his career growth. Opportunities to acquire new knowledge and skills significantly increase the job satisfaction, which always leads to better results.

Another benefit is creating a more creative and innovative workforce. Any training encourages employees to think outside the box and explore new ideas. Such work brings fresh perspectives and creative solutions that will positively affect the growth and success of the business.

5. What are the benefits of reskilling?

One of the most significant advantages is giving a platform to a person who is already familiar with the company's activities, as well as its mission and values; a professional who understands the interrelationships between departments and is aware of the processes and procedures. Investing in such staff could be more expedient than hiring an external candidate who has yet to be introduced to the corporate environment, the company and its operations. In this case, it is also necessary to give a certain period of time in which to determine whether the appointment is successful (for both parties).

The reskilling shows that the company is broad-minded, forward-thinking and committed to creating leaders and building talents. On the other hand - the process could be an excellent way for internal reorganization when the company is facing difficulties in keeping its employees and avoiding destabilization of the structure by dismissing them.

Retraining employees gives an equal start and it’s a positive trend for affiliation. Anyone can develop their skills and gain access to higher-paying positions, regardless of their education or previous career experience.

6. What are the employment relationships allowed by the law on upskilling and reskilling?

The Bulgarian Labor Code provides for the possibility of concluding a contract for upskilling and reskilling - Art. 234. The parties must have agreed on the matters regarding the profession and specialty for which the training will be carried out; the place, the form and the time, as well as the financial part. The regulations also allow an agreement between the company and a person who is not yet hired for the job, but just applying for it.

In order to be able to protect the investment in the retraining, the employer could obligate the trainee to start working in the company for a certain period, but not more than 5 years (Art. 234, paragraph 3). Another reasonable insurance for the investment is a penalty in case of incomplete training or non-performance of the job.

In conclusion - increasing qualification or retraining are logical processes that companies use increasingly. is increasingly used in companies. This is an efficient way to meet the needs of your organization in a dynamic and highly competitive labor market. The very first and most important step is to determine the expertise that employees will need for each role in your organization. In addition to the opinion of the direct leaders of your teams, you can address specialists who will conduct conversations, professional and personality tests and give a comprehensive assessment of the situation - an activity with which Bulmint Recruitment can assist you with on the e-mail: recruitment @bulmint.com or phone: 0311 39 047.