Entrepreneurs Are Prioritizing Upskilling Over Hiring

Key Points:

• Experts explain the benefits of upskilling already existing employees over hiring new people.
• It’s cost-effective, addresses skill gaps quicker, and boosts employee morale—what’s not to love?
• How upskilling can avoid all of the risks associated with new hires 

What is upskilling? Although the term has been used sporadically since the mid-80s, Google data has tracked an absolute explosion in its usage in the last decade. This data suggests managers are waking up to the fact that upskilling their existing workers—or giving them extra training to expand their skill set—is often a better option than hiring new staff. 

To explain why upskilling has such an advantage over hiring, the experts at Robertson College, a leading Canadian career-focused educational institution, give their top five reasons entrepreneurs prioritize upskilling over hiring.

1. You Save Money Over Time

Hiring new employees is a bit like going on a first date: exciting but expensive. You have to cover the cost of posting the job, interviews, background checks, and training, not to mention a whole new extra salary.

Upskilling, on the other hand, is less flashy but infinitely more cost-effective. Instead of paying to bring someone new up to speed, you can channel those funds into training programs that sharpen your team’s existing talents. 

2. Faster Adaptation

When you hire someone new, they must learn everything from scratch: who’s who, what’s what, and where the coffee machine is. Upskilling skips all that awkwardness and gets straight to the good stuff. 

Your team already speaks the company lingo, knows the workflow, and remembers that Wednesday is pizza day. A little targeted training, and voilà! They’re ready to hit the ground running, while a new hire would still be figuring out where to park.

3. Happy Workers Stay Put

By offering upskilling opportunities, you tell your employees, “Hey, you’re amazing, and I want you to be even more amazing.” Employees will feel valued and be far less likely to eye up the exit. 

Plus, when people are happy, they work harder—and with a smile! It’s a win-win: you keep your best employees, and they keep getting (and feeling) better.

4. Addresses Skill Gaps Quickly

Got a specific skill gap? Rather than combing through endless resumes, hoping you find someone who checks all your boxes (spoiler: no one will), you can identify an employee who’s close to what you need and give them the extra training required so that they can fill your skill gap. 

Micro-courses are particularly effective here. These short, focused training programs target specific skills without requiring a long-term commitment. This approach is precise, quick, and tailored to your company’s needs. 

5. Avoids Recruitment Disasters

Recruiting new staff is a gamble—sometimes it’s a perfect match, and sometimes a total catastrophe. Unfortunately, you won’t know which it is until you’ve invested time and energy (and money), only to realize they’re “not who they seemed on paper.” 

Upskilling sidesteps all that uncertainty. You already know your employees’ strengths, weaknesses, and quirks. With upskilling, there are no surprises and no awkward adjustment periods—just reliable results from people you trust.