Thinking of switching careers or finding a new job? You’re not alone. According to a poll of 1,000 U.S. professionals on LinkedIn, 85% are thinking about changing jobs this year. To stand out, workers should focus on developing in-demand skills through education — also known as upskilling and reskilling.
Education has always been key for members of the workforce hoping to earn more, find new jobs, or change careers. However, with the rise of AI, a continued push toward green technology, and post-pandemic changes in employment, 2024 has the most opportunities and challenges for a workforce in recent years.
Let's explore why upskilling and reskilling are more in demand than ever, how they can make you a more attractive candidate to future employers, and the major challenges faced by those hoping to upskill or reskill.
What’s Driving the Need for Upskilling and Reskilling?
A perfect storm of post-pandemic employee empowerment, the rise of AI, the continued push toward greener technologies, and general uneasiness around the economy's health have resulted in an environment where workers either seek better employment opportunities or are forced to consider them.
Post-Pandemic Employment
The “great resignation” — where a record number of employees voluntarily left their jobs to seek better opportunities was driven by “low pay, a lack of opportunities for advancement, and feeling disrespected at work” according to a Pew Research Center survey. Over half of those workers were rewarded, according to the same survey. 56% of workers earned more money, 53% had more opportunities for advancement, and had an easier time balancing work and family.
AI Entering the Workforce
Since the pandemic, AI has become another economic force that is disrupting the workplace. It’s increasing productivity, but also replacing workers. According to CNBC, over 37% of business leaders say AI replaced workers in 2023. Even though AI platforms like ChatGPT have debuted just in the past year or so, AI is already used for a variety of jobs. As companies continue to invest heavily in the technology, it’ll only grow more useful.
On the other hand, like most emerging technologies, AI will create job opportunities for those who can leverage the technology and demonstrate value. In a recent survey by Upwork, 64% of C-Suite respondents say they will hire more professionals of all types due to generative AI, the strongest level of agreement among those surveyed.
Rise of Green Technology
As more and more companies and governments try to decrease their carbon footprints and increase their sustainability efforts, jobs focused on sustainability have also risen. According to the World Economic Forum, the share of green talent in the workforce has increased by more than 38 percent since 2015.
While this may create new career opportunities for some, it may also force others such as those in fossil fuel industries to leave their current jobs.
Industry 4.0
Industry 4.0 refers to the Fourth Industrial Revolution which combines traditional manufacturing processes with the Internet of Things and AI to improve overall efficiency and data intelligence. As factories and other industrial companies become more interconnected, less mechanical, and more data-driven — it leaves room for workers to gain new skills to work alongside new technologies.
How Upskilling and Reskilling Help You Stay Ahead of the Curve
First, let’s define upskilling and reskilling. Upskilling refers to improving existing skills while reskilling involves acquiring new skills to find a different career path.
With so many emerging technologies, trends, and changes to the workplace, upskilling is a way to bridge the gap between skills you already have and skills that employers expect you to have. For example, as cybersecurity becomes more and more important for companies across the world, IT professionals can spend time becoming well-versed in cybersecurity best practices to become more valuable.
Reskilling refers to the process of acquiring new skills necessary to switch to a different career. For instance, if workers in a particular industry, such as manufacturing, find their job prospects and pay to be unsatisfactory, they can consider seeking employment in occupations that are in high demand, such as cybersecurity.
Challenges of Upskilling and Reskilling
As valuable and rewarding as adding new skills can be, many individuals fall behind for a few reasons.
Time Constraints
It takes time to develop new skills. Balancing work, home life, and all of the surrounding responsibilities is already challenging, add reskilling and upskilling into the mix and many workers will struggle to find the time.
Even in organizations that incentivize workers to develop skills during working hours, workers can struggle to balance accomplishing their work tasks and upskilling.
Reskilling can require even more time than upskilling, as adding the necessary skills to switch careers typically requires even more resources.
Fear of Change
Many individuals who wish to change their career path often face the challenge of having to take a step backward in terms of pay, seniority, and experience, which their current lifestyle may not accommodate. For example, a school teacher who aspires to pursue a career in coding may find it difficult to take the initial step back to undergo training and job searching while also ensuring that their family's financial needs are met.
Lack of Guidance
With so many emerging technologies, positions, and industries, some people may not even be aware of new job opportunities that they would be well-suited to reskill or upskill for.
Access to Quality Education and Training
There is an abundance of typical four-year colleges and universities, but there are far fewer avenues for working professionals to access continuing education.
EMU PPAT Can Help You Reskill and Upskill
Despite the challenges that face workers hoping to upskill and reskill in 2024, at EMU we’re committed to offering practical, relevant, and timely professional development, test prep, and certificate programs to help you gain the skills you need to excel in your current career or help you find a new one altogether. To learn more about our courses designed for busy working professionals, see our full list of available programs.