Providing employees the chance to upskill has numerous personal and business benefits. Encouraging personal development has a positive effect on individual wellbeing, as well as building a more innovative and productive workforce. Depending on your upskilling strategy, benefits you might see when a successful upskilling programme is implemented include:
Productivity – Giving employees the chance to develop skills that incorporate the use of new technology and more efficient ways of working can result in increased productivity at all levels of an organisation.
Satisfaction & engagement – Happy and engaged employees create happy and engaged customers. Providing a clear route for individual development will naturally increase employee engagement and have a positive impact on the customer experience and level of satisfaction.
Retention – Providing a clear path for development means that employees will be more inclined to stay with your organisation for the long haul, lower staff turnover means lower recruitment costs, better retention of business knowledge and a stronger organisational culture.
Competitive Edge – Allowing exposure to new tools, ideas, and approaches, will help your employees be more innovative and better equip the whole organisation to adapt to future marketplace trends. Upskilling your employees should provide you with a more competitive outlook and more agility to implement new ideas.
In the shape-shifting wake of COVID-19, companies the world over are renewing efforts to improve operational efficiency and cut costs, anticipating the difference these actions could make to their longer-term business performance.
The pandemic exposed lingering structural problems in payroll, revealing a pressing need for the function to evolve from unpredictable and reactive to data-driven and strategic.
These issues look set to intensify as firms face ongoing difficulties in recruiting payroll professionals with sufficient strategic, technical and analytical know-how.
Download this report covers:
Why payroll maturity matters
The three phases towards transformation
The technological capabilities needed to expand
Upskilling helps you develop organisational agility and resilience, especially with an increasing level of hybrid working, making quick adoption of new technology essential. Developing a successful upskilling strategy and implementing it will help deliver greater retention of key staff, more innovative solutions to challenges in the marketplace, and a greater degree of specialist knowledge to inform business critical decision making to deliver future success.