Last year, the United States Chamber of Commerce published a report that found that 74% of hiring managers are facing a skills gap…job applicants do not have the necessary skills to fill open jobs. Because of this, managers are faced with choosing from “skilling” options, all of which are an investment in human capital.

Reskilling, upskilling, and newskilling (terms used for getting skill sets to workers) are often used interchangeably, but there could be some distinct differences. Workers may need to leave behind extinct processes as automation and artificial intelligence changes their position. Entirely new concepts may be necessary for a company to compete. The skilling solutions could be broken down this way:

Reskilling: Providing training to an employee whose previous occupational function has become obsolete.

Upskilling: Cross-training employees into higher tech positions, while they retain their previous functions.

Newskilling: Managing up an existing workforce to be ready to bring an entirely new technology into a company to keep the business competitive.

In 2019, the Wall Street Journal reported that American companies were failing at these skilling tasks. Why? The first reason was lack of data…companies don’t have a clear view of their existing employees’ talents.

This is where MyBenziger can help. Simply, this tool can give companies the data they need to prepare for skilling investments. Want to know how your company can assess workers to see who can be reskilled, upskilled or newskilled? Just contact us! Don’t tackle your skills gap alone…with the MyBenziger assessment you can find the employees within your own organization who will help bring new technology to the company.