A Study on Building a Future-Ready Workforce Through Upskilling and Reskilling

Abstract The rise in technological developments, automation, artificial intelligence, and overall digitalization and informatization leads to the constant evolution of the skill set required for any given profession. As such, companies tend to experience challenges concerning the inadequacy of the workforce in terms of skills, redefinition of roles and responsibilities, adaptability, and overall attractivity of the work environment. In this regard, the tendency of investing in the upskilling and reskill processes has become an effective way to address the increasing demands of the modern workplace. To begin with, the former process refers to the enhancement of the existing skills required for one’s position, while the latter one implies acquiring new qualifications needed for a different job. The purpose of this paper is to assess the impact of the two processes on future skills through conducting research. The data was collected via a five-point Likert scale questionnaire, administered to 120 participants. The results of the statistical analysis are to be discussed below. In general, the findings revealed that both upskilling and reskill processes are beneficial for individual development. That is evident from the provided results of the study. Moreover, most of the participants identified as agreeing and strongly agreeing concerning the key issues in the questionnaire. Additionally, the findings were aligned with most of the articles provided, thus, indicating the importance of training, learning, and personnel management to address future skills. Therefore, the study concluded the necessity of ongoing development for firms to ensure the alignment of their employees skills with the ever-changing business environment and technological progress.