How can an Entrepreneur Increase Productivity through Upskilling and Re-skilling
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A recent McKinsey Global Institute report suggested that more than 375 million workers may need to change their skill sets entirely by the year 2030. The workspace as we know it has faced and will continue to face massive disruptions through the advent of newer technologies and Artificial Intelligence. The uncertainty this implies, has understandably, caused a lot of apprehension around the need to upskill and reskill. But instead of being overwhelmed by this, it is important to stay ahead of the curve by understanding these concepts, finding ways to adapt, and using them to your advantage.
Here’s What it is
The Cambridge dictionary defines ‘upskilling’ and ‘reskilling’ as learning new skills or training people with new skills so that one can do a different job. So while upskilling requires an individual to build on their current skill set so as to enhance the value they bring to their current roles, and their chances for advancement to higher positions; reskilling requires one to develop a new skill set within their current field, earn a new degree or certification, or choose to enter into a different field entirely.
At a time like this, the willingness to evolve is key. Whether we’re conscious of it or not, we are all constantly evolving. Upskilling and reskilling may be professional terms, but those processes are part of our personal lives too. If you have a setback at work or get a promotion, if you move towns, if your body starts reacting differently to certain foods, you have to adapt to those changes, but your perspective of that change is what makes the difference. It is important not to look at it as being backed into a corner and embrace it instead as an opportunity to move forward.
Coping in With the Time
It is true that technology is rendering a number of jobs and professions obsolete, but the evolving nature of our world has also created a number of jobs that didn't previously exist. Recruitment jobs, for instance, are being taken over by AI that can now scan resumes, so if you’re a recruitment professional, what do you do? For one, you could think of innovative ways to do the same thing differently. In this case, you could use your expertise in recruitment and work with AI developers to help them identify what to look for in resumes and cover letters. Another option would be to think about what your passions, skills and interests are outside of what you currently do. Your love for yoga could possibly inspire you to become a fitness influencer. Be willing to understand and explore such new age businesses that could help you find your calling. Next, think of a niche. Did you just have a baby? Maybe you could become a fitness influencer targeting new moms. If what you’re truly interested in at this stage in your life and career is furthering your education, then that's the avenue you should pursue.
Skill is For Growth
If you’re a senior executive, you could choose to upgrade your qualifications by enrolling in an executive program at a reputed University like Harvard. Doing so wouldn't just add a certification to your resume, it will also add value in terms of networking with professionals from different countries, opening yourself to a wider range of opportunities, and enriching yourself with new perspectives.
If you’re stepping into the role of running a family business, you could hire family business coaches so as to introduce a sense of balance between old values and new ways of doing business.
Upskilling and reskilling can both be great for your career. They could challenge your notions of what you’re capable of, modify or diversify your aspirations, define your career path, and help you learn a lot more about yourself and what you want. Think of them as assets in navigating a brighter career.
Evolution happens regardless but becoming conscious of the process allows you to maintain control and reinvent in a way that is true to who you are. Making the effort to increase self-awareness will give you deeper insight into what you want out of this stage in your life, and more importantly (for the sake of this article) help you identify talents and abilities you never knew you had. Building on those and figuring out how they may add value to your professional life could help you move up the ladder and stay ahead of the competition.