Upskilling is your secret weapon in an ever-changing job market. Find out why!

FROM THE DESK OF MILES EVERSON: Are you familiar with Return Driven Strategy (RDS)? If you aren’t yet, it’s a pyramid-shaped framework that consists of 11 tenets and 3 foundations. When properly integrated into your business strategy, RDS’ principles help you achieve true wealth and value creation. Another thing I love about this framework is it’s applicable to professionals as well. Just apply RDS’ tenets and foundations to your career and you have Career Driven Strategy (CDS). Today, let’s talk about upskilling through the lens of CDS. Continue reading to learn why upskilling is crucial to your career and professional growth. CEO, MBO Partners Chairman of the Advisory Board, The I Institute

Upskilling is your secret weapon in an ever-changing job market. Find out why! The world is moving fast and the job market keeps changing each day. As a professional, have you ever wondered how you can keep up with all these changes and stand out from the rest of your peers? The answer to that question is upskilling! In case you don’t know yet, upskilling refers to the process of acquiring new skills or enhancing existing ones to improve one’s ability to stay up to date with the emerging trends in his or her field and the job market. According to the World Economic Forum, “50% of employees globally will need new skills by 2025 to take on new responsibilities brought about by automation and other modern technologies.” As industries evolve and technological advancements crop up, the demand for certain skills may change, thus affecting an individual's job prospects. By upskilling, professionals are able to remain relevant in their respective fields and adapt to the changes in the job market. Upskilling also comes with a host of other benefits: Increased job security Higher motivation and work engagement Increased career opportunities Increased job performance Now that you know the importance of upskilling to your career, here are a few tips to upskill effectively: Websites like Coursera, edX, and HubSpot provide courses that enable you to brush up on your existing skills and acquire new ones. More importantly, many of the short programs come with certificates upon completion. The courses found on these websites can also be completed in less than a year and some of them are even free of charge. Nowadays, most firms offer training programs and workshops aimed at improving their employees’ workplace and technical skills. For example, marketing firms might offer training on related subjects like search engine optimization (SEO), data analytics, organizational communication, public relations, and social media marketing. If your company has a training program related to your role, you should take advantage because it will help you acquire new skills and improve your existing ones. Career coaching is a form of professional support for individuals seeking guidance for their next career steps. Since career coaches work with clients from multiple industries, they are in the best position to provide you with information about the latest trends in your field. With this knowledge, they can tell you what skills you need to acquire or improve on. According to Coursera, working on projects related to your area of specialization enables you to practice the skills you’re trying to acquire. For example, try volunteering for a project at your workplace where you could work with other teams. Alternatively, you can try pursuing a passion project that’s related to your field and expertise. Enroll in courses relevant to your role. Websites like Coursera, edX, and HubSpot provide courses that enable you to brush up on your existing skills and acquire new ones. More importantly, many of the short programs come with certificates upon completion. The courses found on these websites can also be completed in less than a year and some of them are even free of charge. Take advantage of your firm's training program. Nowadays, most firms offer training programs and workshops aimed at improving their employees’ workplace and technical skills. For example, marketing firms might offer training on related subjects like search engine optimization (SEO), data analytics, organizational communication, public relations, and social media marketing. If your company has a training program related to your role, you should take advantage because it will help you acquire new skills and improve your existing ones. Work with a career coach. Career coaching is a form of professional support for individuals seeking guidance for their next career steps. Since career coaches work with clients from multiple industries, they are in the best position to provide you with information about the latest trends in your field. With this knowledge, they can tell you what skills you need to acquire or improve on. Work on other projects related to your field. According to Coursera, working on projects related to your area of specialization enables you to practice the skills you’re trying to acquire. For example, try volunteering for a project at your workplace where you could work with other teams. Alternatively, you can try pursuing a passion project that’s related to your field and expertise.   Upskilling and Career Driven Strategy (CDS) In CDS, Professor Joel Litman and Dr. Mark L. Frigo emphasized the importance of constantly finding and fulfilling the unmet needs of a client or employer. By understanding the current and emerging trends in your field, you’ll be able to know the skills you need to acquire or improve on in order to stay competitive and stand out in both your job and industry. Simply said, through upskilling, you’ll be able to keep up with the changes in your field and when done right and meticulously, you’ll be able to stand out from the rest of your peers and competitors. Remember: If you really want to thrive in today’s dynamic job market and work environment, you need to acquire new skills and knowledge related to your field. If you’re looking to gain a better understanding of Return Driven Strategy, we highly recommend checking out “Driven” by Professor Litman and Dr. Frigo. Click here to get your copy and learn how this framework can help you in your business strategies and ultimately, in ethically maximizing wealth for your firm.     Hope you found this week’s insights interesting and helpful. The COVID-19 pandemic drastically altered the way work was done. Learn more about this business case study and RDS’ Tenet 9 in next week’s article!