The COVID-19 pandemic has changed our lives in many ways. On the work front, it has accelerated the need for upskilling, as the shift to remote work and technological advancements have created new job requirements and demand for digital skills.

According to the World Economic Forum’s Future of Jobs Report, the adoption of new technologies will need retraining for 50% of all workers by 2025. Over two-thirds of the abilities that are necessary in today’s workplace will change, and a third of the essential talents will be technology-related skills that are not yet seen as being important.

There’s no denying that the market scenarios are increasingly unpredictable, but fortune favours the brave. To stay competitive in a rapidly changing job market, professionals need to invest in upskilling –  acquire new skills and improve the existing ones on a regular basis.

If you are wondering how this can be done, here are effective ways to upskill:

Formal education: This can include degree programmes, certification courses, and professional development workshops. These programmes are designed to provide in-depth knowledge and hands-on experience in a particular professional field.

Online courses: e-learning platforms offer a flexible and convenient way to acquire new professional skills. There are many free and paid courses available on such platforms today.

On-the-job training: This allows professionals to acquire new skills while they are at work. Shadowing a co-worker, attending workshops and conferences, as well as participating in cross-functional teams are some of the tried-and-tested ways to stay on top of your game at work.

Often, some companies even provide training programmes for their teams that include subjects that are not yet discussed enough in the mainstream. It is vital that employees go ahead and participate in those to upskill while they are working.

Why it matters: As a result of the pandemic’s cascading effects across industries, corporate leaders increasingly recognise the significance of upskilling and reskilling to maintain competitiveness in the face of volatile market conditions. Technology disruption has become the norm, and businesses are being forced to rethink how they should operate in a post-pandemic environment as they shift towards digitisation.

Tapping into new opportunities: The strong influence of globalisation is continuously altering the workforce and expanding access to latest knowledge and skills. New software programmes and technology developments lead to the creation of new jobs, particularly in fields like cybersecurity, cloud computing and data analytics. In order to transition into new professions with ease, it’s imperative to be prepared for these opportunities.

Staying relevant: The job market is constantly evolving, and new technologies and methodologies are being introduced at a rapid pace. Upskilling helps professionals stay current and relevant in their respective fields, making them more attractive to potential employers.

With the recent stint of AI penetrating the market, it is also vital to have basic knowledge about the same. Artificial intelligence has been making rapid progress in recent years and will ultimately change the way we work. The key to staying relevant is knowing how to use these new and upcoming technological progressions and incorporate them in your work. Knowledge about these new technologies will not only assist you in your day-day work but will also make it easier for you to work with them in the future.

Augmenting the earning potential: Professionals with a wider range of skills and knowledge tend to command higher salaries and have better career growth prospects. Upskilling can provide an individual with a competitive edge in the job market and increase their earning potential.

Improving job satisfaction: Quiet quitting – feeling demotivated and not being able to give your hundred percent at work – often emerges from the various disappointments that the workplace invariably metes out over time — favouritism, missing a promotion, the stagnant paycheck. Upskilling, on the other hand, enables you to feel more confident, encouraging you to look forward to something else along with your existing job. Learning something new has never not made someone happy.

It’s important to understand that even as workplace automation becomes more common and the threat of unemployment looms large, there will be no dearth of new professional opportunities. The question is: How prepared are you to meet the changing market demands? Are you equipped to make the most of the new opportunities?

By upskilling, professionals can prepare themselves for future job demands and ensure that they are not left behind in an evolving workspace. By embracing continuous learning, we can assure future success and professional growth, despite the volatility of the current job market.

The author is the Founder and CEO of the School of Meaningful Experiences (SoME)