As information technology becomes the primary driver of different industries worldwide, including fintech, agritech, property-tech, education, blockchain, health-tech, and communication, some associated lingos and glossaries have emerged.
Examples are assistive technology, bandwidth, broadband, cache, cloud computing, download, domain, encryption, gateway, malware, and the list is endless.
Expectedly, this makes them difficult to keep track of. However, two words-not industry-specific, that play in your head like your favorite song, travels with you as you navigate from one web tab to another, and pop up at every given opportunity on your screen are reskilling and upskilling.
They are critical words because understanding them will go a long way in defining and refining your career choice, chances, and progression in the age of information technology.
Understanding Reskilling and Upskilling
A look at both terminologies shows that they have one thing in common; “skill’.
Skill is the expertise and experience required to get a job done. It boosts your employability and gives you an edge over others, especially if you have highly sought-after skills.
For example, you cannot compare an individual with six years of experience who has hard skills and soft skills to someone who only has the knowledge and no hard or soft skills. Depending on their field, the latter will likely be unable to perform appropriately in teamwork, communication, and work ethics.
So, what exactly does it mean when we add ‘Re’ and ‘Up’ to “skill”?
Reskilling is the process of learning new skills so that you can do a different job. It is likely to lead to a career overhaul. For example, you are a financial analyst, and you lose your passion for crunching numbers. Instead, you develop a love for the ingenuity and attention to detail required in cybersecurity and decide to pursue a career in that. So, you acquire the skills necessary to become a professional in your future career path.
To put the importance of reskilling in perspective, the World Economic Forum estimates that 54% of all employees will require ‘significant’ reskilling by 2022. Hence, if you have to reskill, the earlier you start, the better your competitive advantage. And what time is better to begin to reskill than now?
Meanwhile, upskilling is learning new skills to help you do your job better, enhance performance, and position you as an indispensable employee. Upskilling keeps you one step ahead in your career.
A couple of years ago, a career in bookkeeping required books to be literally filled. With computerization, books were eliminated; instead, all bookkeeping was done digitally. Then, as internet penetration grew, bookkeeping was moved to cloud-based software. Finally, with the innovation of blockchain technology, bookkeeping, accountancy, and the finance industry is being revolutionized. As an accountant, what is your future in all these?
Zart Talent is bridging the gap in skills acquisition. We can help reinforce, re-train and solidify your skillsets regardless of whether you are reskilling or upskilling as an individual or organization. The result is a workforce that is employable and has the relevant skills to contribute their quota to the growth of your company and the industry at large.
Visit ZartTalent.org to find out how to bridge the skills lacuna and create a viable workforce with competitive skills.