Upskilling vs. Reskilling: Top 5 Differences for Career Success

Vertical Institute recently conducted an engaging LinkedIn poll to gauge how professionals view upskilling. The poll was styled with a playful twist: it asked participants to vote on how they see upskilling—Is it the new “Black” (referring to the popular TV series “Orange Is the New Black”), a “Netflix binge” (a casual pastime), a “Career booster” (a serious career enhancer), or “Adulting” (a necessary but tedious part of growing up)? With responses ranging from casual to career-focused, the poll aimed to capture the varied perceptions of upskilling in a light-hearted way.

The poll results showed diverse opinions: 42% viewed upskilling as the new “Netflix binge” or “Adulting,” reflecting its blend of casual and necessary aspects, while 17% saw it as a “Career booster.” With such varied perceptions, it’s clear that understanding the actual value of upskilling and reskilling can be challenging. 

In the following discussion, we’ll define upskilling and reskilling and explore how each can boost employability and career growth in today’s competitive job market.

What is the definition of upskilling and reskilling?

According to the World Economic Forum, upskilling enhances existing skills to stay relevant in one’s current job or industry. At the same time, reskilling is acquiring new skills to transition into a different role or industry.

For example, upskilling might involve a data analyst mastering advanced machine learning techniques to enhance their data analysis skills and contribute more effectively to complex predictive modelling projects. On the other hand, reskilling could be illustrated by a cybersecurity analyst who undertakes a data science course to shift into a data scientist position, where they apply their cybersecurity expertise to create data-driven security solutions and improve threat detection capabilities.

Related: Mid-Career Switch to Data Analytics: A Starter Pack

How do upskilling and reskilling impact employability in today’s job market?

According to the World Economic Forum, the 2020s will be a decade defined by upskilling. The organisation highlights that ongoing investment in upskilling is essential for employees and employers to maintain adaptability and relevance amid industry changes. Furthermore, reskilling is crucial for futureproofing against technological disruptions and evolving industry needs. Acquiring new skills enables professionals to navigate job market shifts and secure roles in emerging sectors, ultimately boosting their employability.

In light of this, Singapore exemplifies successful upskilling strategies. The nation’s approach includes robust measures such as government-supported training programmes, subsidies like SkillsFuture, and collaborations with educational institutions. A particular focus is placed on tech courses and emerging technologies, which are essential for preparing the workforce for future demands. By prioritising upskilling and reskilling, Singapore demonstrates how targeted initiatives can significantly enhance workforce adaptability and career progression, serving as a model for other countries.

Here are five ways that upskilling and reskilling enhance one’s employability in the current job market:

1. Enhanced Job Security
2. Increased Career Opportunities
3. Competitive Edge
4. Adaptability to Technological Changes
5. Higher Earning Potential

Related: How to Future-Proof Your Career in the Era of AI & Tech Layoffs

Top Five Ways Upskilling and Reskilling Differ for Achieving Career Success

Understanding how upskilling and reskilling differ is crucial for career success. While both strategies are essential for staying relevant, they serve distinct purposes. This section explores how upskilling and reskilling differ, helping you choose the right approach for your career growth.

Skill Enhancement vs. Skill Acquisition

• Upskilling: Refines current skills to advance within the same role.
• Reskilling: Develops new skills to transition into a different role or industry.

Career Growth vs. Career Change

• Upskilling: Promotes advancement and career development within your existing role.
• Reskilling: Enables a shift to a new role or industry by acquiring different skills.

Industry Adaptation vs. Sector Shift

• Upskilling: Ensures your skills remain relevant amid industry advancements.
• Reskilling: Provides new competencies to pursue different career opportunities.

Current Role Improvement vs. New Role Preparation

• Upskilling: Boosts proficiency and effectiveness in your current role.
• Reskilling: Prepares you with the knowledge and skills needed for a different role or job function.

Increased Specialisation vs. Broadened Expertise

• Upskilling: Deepens your expertise in a specialised area.
• Reskilling: Broadens your skill set to cover new areas or functions.

How do I determine if I need to upskill or reskill?

To decide whether you need to upskill or reskill, ask yourself these questions:

Career Goals

• Upskilling: Want to excel further in your current role? Go for upskilling. 
• Reskilling: Planning to move into a new field or job? Reskilling is what you need.

Industry Changes

• Upskilling: Is your current job evolving with new tech or methods? Upskilling will keep you updated.
• Reskilling: Is your industry declining or changing fast? You should reskill for a more stable job.

Skill Requirements

• Upskilling: You already have a strong foundation but need to enhance specific skills? Focus on upskilling.
• Reskilling: You need to learn entirely new skills for a different role? Reskilling is necessary.

Job Advancement

• Upskilling: Aiming for a higher position or more advanced responsibilities in your current field? Upskilling will help.
• Reskilling: Interested in starting fresh in a new career? Reskilling will prepare you for that transition.

Personal Interests

• Upskilling: Happy in your current career and want to advance? Upskilling fits your needs.
• Reskilling: Interested in a new field or job role? Reskilling will help you make the switch.

How can I measure the success of my upskilling or reskilling efforts?

To measure the success of your upskilling or reskilling efforts, consider these methods:

1. Skill Application

Evaluate how well you apply newly acquired skills in your daily work or new role. Successful skill application can indicate effective upskilling or reskilling.

2. Performance Metrics

Track improvements in key performance indicators like productivity, accuracy, or project success. Enhanced performance can signal that your training efforts are paying off.

3. Feedback and Evaluation

Obtain feedback from supervisors, colleagues, or mentors. Positive evaluations and constructive comments can confirm that your newly acquired skills are having a positive impact.

4. Career Progression

Monitor any advancements in your career, such as promotions, salary increases, or new responsibilities. Successful upskilling or reskilling often leads to career growth.

5. Certification and Credentials

Check if you’ve obtained relevant certifications or credentials and how these are valued in your industry. Achieving recognised qualifications can demonstrate the success of your efforts.

Conclusion

Recognising the importance of upskilling and reskilling is crucial for both employers and employees. Employers should view these initiatives as investments in creating a more adaptable and innovative workforce. On the other hand, employees should actively engage in upskilling and reskilling to enhance their career prospects and personal development. Embracing these practices can lead to significant growth and success in today’s fast-changing job market.

About Vertical Institute

Vertical Institute is a key driving force in upskilling and reskilling in Singapore, empowering individuals with the essential skills for future career success. Our primary focus is providing cutting-edge tech education. Through our advanced technology courses and certifications, we foster the growth of leaders, innovators, and changemakers. 

Singaporeans and PRs can receive up to 70% of IBF Funding off their course fees with Vertical Institute. The remaining costs can be claimable with NTUC UTAP Funding or SkillsFuture Credits. We support graduates of our programmes through our job placement assistance (JPA), connecting them to over 1,000 hiring partners. Vertical Institute facilitates internships and career opportunities, enabling you to put your new skills into practice.