Set New Career Goals and Jumpstart Growth by Upskilling And Reskilling

There are days when you face the proverbial mirror and list goals to help you become a better, more accomplished version of yourself professionally. It could be the new year, your birthday, the start of a new job, or the end of an era. Now and then, a moment in your life happens to trigger self-improvement.

The good news is that the world is with you on this plan. As roles change – and with automation making that evolution more rapid – you must constantly be on your feet, keeping up. Without upskilling and reskilling, you may get lost in this job landscape full of algorithms, AI, and machines.

According to the World Economic Forum’s Future of Jobs Report, the 20 major economies will displace 75 million jobs – replaced by 133 million new roles that require a whole new range of in-demand skills, most of which current employees are unfamiliar with. 

So how do you stay needed and employable in an ever-changing world? You must understand the difference between upskilling and reskilling. Make a tailored plan for your career goals, pacing your growth alongside the developments in your field.

Remember that all companies strive to meet the standards set by the rest of their industry to stay relevant. Failure to keep up with these new demands puts the organisation at risk of being obsolete. Hence, an organisation must employ talent who either fit these new roles or can grow into them.

Give yourself an advantage by staying on top of the latest skills required in your industry.

What Is the Difference Between Upskilling And Reskilling?

People often use these two terms interchangeably. However, they have significant differences. Upskilling means upgrading your current skills to meet your profession's new demands. For example, you work in human resources. You know how to conduct job interviews and manually calculate payroll. However, familiarising yourself with software, such as SparkHire or Bamboo, could make recruitment processes faster and more in tune with today's remote-work environment. 

Another example of upskilling would be content creators who train in data analytics. They must learn to analyse algorithms and data to create valuable content.

Upskilling means updating your capabilities to propel you forward in your work. On the other hand, reskilling entails acquiring a fresh skill set to take on a different role. Maybe you used to be an HR professional but have decided to switch to project management. Learning new soft and hard skills can help you adapt and thrive in your new job.

Reskilling happens when there is a shortage of lucrative roles in your current industry, you desire a career move, or technology has made your current technical abilities obsolete. It is a lifeline that will take you on a new path of better career opportunities.

Enrolling in IT-related certificate courses is a clever choice for reskilling. It can help you get a foothold in the industry, which will inevitably permeate nearly every department in any company.

Benefits of Upskilling And Reskilling

Employers hire employees for the sole reason that they contribute skills to the company. Therefore, upskilling and reskilling ensure that you consistently have a higher value to bring to the table. You also have higher chances of staying afloat in a volatile economy that may leave you displaced if you fail to raise the bar in your career abilities. Apart from being the only way to survive in the age of technology, here are more benefits of upskilling and reskilling:

1. You break digital barriers. 

View technology as a friend who challenges you to improve yourself – not a foe that eliminates jobs. Technology aids professionals with a fire in their bellies and who are unafraid to take on its learning curve, challenges, and competitiveness. It rewards you with unbeatable skill assets and an inherent grit from succeeding in bridging the digital divide.

2. You feel fulfilled at work.

Ask employees why they are unhappy, and many will say that they feel their job is at a standstill, with no new challenges or mobility. Upskilling and reskilling will help broaden your horizons, equipping you with tools that could help you move along your career path. You'll feel more satisfied knowing that you're growing.

3. It makes you wired for growth.

That broad horizon isn't just a one-time thing. Consistent action – i.e., constantly retraining yourself – can become a habit. Being open to learning will only make you push your boundaries further. Employees who see challenges as a platform for growth are the most likely to come out successfully from any setback.

Steps Towards Upskilling And Reskilling

1. Set your goals.

First of all, what do you want to achieve? Knowing your goals will help you create a roadmap for getting there. Putting your plans on paper will show you where to upskill or reskill to achieve your aims.

Make sure your objectives are specific, measurable, achievable, relevant, and time-bound for the best results! Learn more about how you can employ the S.M.A.R.T. technique to further your career.

2. Attend conversion programmes for reskilling.

One of the many benefits of living in Singapore is that you can take the government-led Career Conversion Programme. It provides you with training subsidies, salary support, and training allowance to help you reskill for a better career path.

If you are a mid-career individual, you may take the SGUnited Mid-Career Pathways Programme, which helps you gain relevant experience and broaden your career network.

Both programs have partnered with various companies for their Attach-and-Train, providing you with sure work opportunities to practise your new skills in the real world. This way, you achieve your reskilling goals and contribute to an organisation simultaneously.

3. Enrol in courses to upskill with your company or as an individual.

Any company worth its salt would invest in upskilling. Check with your employer if they are willing to back you in taking supplementary training. Should your desired field be outside the scope of your company, do not hesitate to invest in external training, which you can complete during your personal time.

You can find affordable and even free courses to take and complete remotely. Try YouTube, Udemy, Skillshare, ZilLearn, and other platforms to get started. 

Singapore citizens and permanent residents are eligible for up to 90% subsidies to SAP Skills University, which has partnered with SkillsFuture and Temasek Polytechnic. Its goal is to equip fresh graduates and mid-career professionals to learn industry-valued skills.

You can also enrol in a vocational course to help you learn technical skills.

What Do Upskilling And Reskilling Mean for the Top Hiring Industries?

The top hiring industries will be the first to adopt new technology and job roles from the digital wave. The job market in Singapore's top sectors will be more competitive than ever, so upskilling and reskilling to match in-demand roles will be mandatory for employees to remain economically relevant. Upgrading yourself as early as now will prepare you for when the economy transforms radically in the years to come.

1. Banking and Finance

With brand-new ways to steal and scam sprouting like mushrooms, one of the finance industry's priorities is upgrading its fraud detection, risk management, and artificial intelligence. With online transactions now being the norm, banking will need new talent with analytical skills to interpret the data from back-end consumer patterns.

Apart from banking, the finance industry is also on the lookout for other skills involving blockchain engineering, programming, and cryptocurrency.

2. Infocomm Technology (ICT)

Automation has been at the forefront of many industries in the last decade. As telecommunications and technology integrate for efficiency and transparency, there has been an increased need for IT professionals to spearhead digital advancements across industries, ensuring they’re at the top of their game.

Like the financial sector, cybersecurity skills are a top priority in IT. Several institutions in Singapore offer part-time cybersecurity courses for professionals, such as  PSB Academy, COMAT, and the National University of Singapore.

3. The Service Sector

While humans once employed manual skills in serving customers, service professionals will adopt hardware and software to make work more efficient. The most distinct change is e-commerce. Service professionals are expected to acquire new technical skills such as operating POS (Point of Sale ) software, CRM (Customer Relationship Management) platforms, and online store websites. You must also be able to adapt your analytical, marketing, and organisational skills to the online environment.

4. Manufacturing

Since 2022, the demand for core capital goods has reached a 40-year high, and manufacturing jobs are projected to be highly lucrative. Robotics are now taking centre stage in this particular sector. It replaces what used to be human workers at assembly lines and conducts large-scale data analysis to predict supply and demand. 

When robotics eliminated the most tedious, repetitive, and even dangerous tasks from humans, it also eliminated low-skill jobs, replacing them with high-skill ones, such as engineers and coders. You must be able to train in six sigma, operations management, and facilities training. Find out more about pursuing a career path in manufacturing.

Exciting new roles in the industry are Digital Twin Architect and Robot Teaming Coordinator.

Our world is changing much more rapidly than it did in the previous generations. It means we are constantly adapting at any age. It’s time to forget the belief that you're done with learning once you get that diploma. Even when your career journey ends up in zigzags, never stray off the path of self-improvement. You’re never too old to learn and adjust your career according to the market’s demands.

Being in control of your career is a power you will always have. #SEEKBetter opportunities to turn your goals into reality! Check out our Career Resources page or download JobStreet’s app available on the App Store and Google Play for more tips on setting and accomplishing your new career goals.