Upskill and Reskill

Avoid IT Layoffs! It’s Time to Upskill and Reskill

The career market for IT professionals is in a tumultuous state right now. On the one hand, the demand for a workforce to cater to the emerging needs of digital transformation has been growing by substantial margins. At the same time, layoffs also became one of the top headlines in 2022. Apparently, the tech industry registered around 649% more layoffs in 2022, implying that more IT professionals lost their jobs in 2022 than in 2020 and 2021. 

At this point in time, the need to upskill and reskill serves as a promising answer to the uncertainties regarding your career development. What is the meaning of upskilling? IT employees can seek opportunities to develop skills in technologies, which can help them achieve job security.

The primary focus of the benefits of upskilling and reskilling would be on preparing the workforce for the technology of the future. Interestingly, the best choice for capitalizing on the benefits of upskilling and developing a secure career would point to blockchain. The following post helps you learn more about the value of upskilling and reskilling for dealing with the threat of layoffs.

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Existing State of Layoffs in IT

The most prominent aspect of a job is the security it offers to the job holder. Interestingly, the popular sector for lucrative jobs is IT, especially considering the massive scale of digital transformation. However, layoffs have become a prominent trend in the IT sector, with big brands such as Zoom, Google, Microsoft, Yahoo, and Amazon announcing layoffs in 2023. As a matter of fact, around 121,205 employees have been laid off so far in 2023 in the field of tech. 

The growing threat of layoffs demands tech professionals to reflect on the methods for dealing with layoffs. As a matter of fact, the answers to “What is the best way to handle layoffs?” would revolve around preparation for skills in new technologies. Upskilling helps you elevate your skills in accordance with the trends in the tech market. 

In a way, you would prepare for technologies that companies would adopt in the future. Blockchain, smart contracts, DeFi, metaverse, fintech, and web3 are some of the prominent tech trends which are likely to dominate the tech labor market in the future. Therefore, you need to look for resources that can help you prepare for the challenges of layoffs in the labor market.

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Importance of Upskilling and Reskilling

Upskilling focuses on workers investing in learning new skills while reskilling involves placing a worker in a new role. The answers to “Why is upskilling important for employees?” draw attention to the fast pace of changes in the workplace environment. Business leaders are concerned about the existing skills of the workforce and their abilities to address dynamic demands in the workplace. Upskilling can play a vital role in improving the existing skill set of an employee so that they can contribute more value to the organization. On the other hand, reskilling exposes workers to new disciplines, thereby broadening their areas of expertise. 

The responses to “Why upskilling is key for the future of work?” would obviously refer to the ways in which it helps employees. Digital transformation is a strategic priority of businesses worldwide, and new technologies such as AI and automation have rendered many jobs obsolete. Therefore, upskilling can help in handling different digital tools and platforms, which can help them cope with the dynamic changes in the workplace. Almost everyone must develop digital competency with a broad range of skills. 

The importance of upskilling and reskilling is evident not only in adaptability to new trends but also in uncovering opportunities in adversity. Due to the unprecedented crisis of the pandemic, organizations have to encounter different hiring challenges. The benefits of upskilling and reskilling can help in attracting new talent alongside encouraging employee engagement and retention. In addition, it can also upskilling and reskilling programs can help in improving collaboration among departments. Most important of all, the skill development journey of IT professionals can align with the specific skill requirements of the workplace. 

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Which Upskilling and Reskilling Programs Are Ideal Choices in 2023?

The primary responsibility of upskilling and reskilling lies with the employer. However, employees and aspiring IT professionals can upskill and reskill through professional technical training resources. You can capitalize on the benefits of developing skills in blockchain technology and its applications through comprehensive training courses and certifications. 101 Blockchains is a trusted platform for blockchain technology training and certification courses. 

You can rely on the training courses on the platform for learning about blockchain, smart contracts, cryptocurrencies, and fintech. In addition, you can find courses on decentralized finance, NFTs, metaverse, and important concepts related to Web3. Each course on 101 Blockchains features insights from experts, which provide credibility to the course material. On the other hand, certification training courses can add validity to your blockchain skills.

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Top Choices on 101 Blockchains for Upskilling and Reskilling

The best way to use the advantages of upskilling and reskilling to your advantage for dealing with layoffs involves skill paths. You need to choose relevant skills paths on 101 Blockchains, which can help you build tech skills for the future. The answers to “What is the best way to handle layoffs?” would point to developing a broad set of skills. If you become an invaluable asset for employers with multiple skills, they are less likely to let you go in layoffs. Here are some of the notable skill paths you can pursue upskilling in blockchain technology and its applications.

  • Defi Skill Path

DeFi Skill Path

The DeFi skill path on 101 Blockchains is a credible option for developing skills in the most popular use case of blockchain technology. You can explain “Why is upskill important for employees?” by reflecting on how the DeFi skill path helps you catch up with the latest trends in DeFi

You can find seven different courses in the DeFi skill path to help you learn about decentralized finance and its applications. The skill path helps you familiarize yourself with the fundamental concepts of blockchain and DeFi. You can also learn about the implications of DeFi for the creation of CBDC and the role of tokenization in the DeFi ecosystem.

The DeFi skill path by 101 Blockchains also works on improving your understanding of NFT basics and the tech stack for DeFi solutions. On top of it, the skill path also includes a course on understanding DeFi security threats alongside the best practices for resolving them.

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  • Ethereum Skill Path

Ethereum Skill Path

You can find a suitable answer to “Why upskilling is key for the future of work?” in the Ethereum skill path on 101 Blockchains. The skill path includes six different courses which help you learn to build in-demand skills in one of the most popular blockchain networks, i.e., Ethereum. The courses in the skill path not only help you learn about the fundamentals of Ethereum development but also the technology powering the second biggest blockchain. 

In addition, the Ethereum skill path also helps you upskill and reskill as an Ethereum professional with fluency in smart contract development and Solidity fundamentals. You can learn about the Solidity programming language and its implications for smart contracts on Ethereum

On the other hand, the skill path also offers a technical course on addressing the requirements for building smart contracts with Truffle. Furthermore, the skill path also includes courses on blockchain and data privacy alongside applications of zero-knowledge proofs or ZKPs.

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  • Non-fungible Tokens

The search for ideal resources to learn new skills for avoiding IT layoffs would lead you to the NFT skill path on 101 Blockchains. You can use the skill path to familiarize yourself with the basics of non-fungible tokens and their practical applications. The NFT skill path provides a reasonable answer to “What is the best way to handle layoffs?” as it provides you the opportunity to learn about digital assets that will dominate the future. 

The skill path includes courses on NFT fundamentals and the basics of DeFi to help you understand the interplay between them. On top of it, the course on Ethereum technology and the fundamentals of Polygon can help you understand the technical foundations for creating non-fungible tokens. 


  • Metaverse

The Metaverse skill path on 101 Blockchains is also a promising solution for upskilling and reskilling to stay relevant in the IT market. You can find only three courses in the skill path for learning about metaverse fundamentals and the technical components underlying the metaverse. The skill path offers you an ideal answer for all your doubts regarding the metaverse, along with the opportunity to become a metaverse technology professional

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  • Cryptocurrency

Another promising choice among the skill paths on 101 Blockchains for you would refer to the cryptocurrency skill path. You can find answers to “Why upskilling is key for the future of work?” in the transformative impact of cryptocurrencies on the world of tech. The growing demand for cryptocurrency adoption in the field of tech has created the need for professionals with knowledge of cryptocurrencies. 

Upskilling in cryptocurrency with the 101 Blockchains skill path helps in learning about Bitcoin technology and cryptocurrency fundamentals. On top of it, you can familiarize yourself with the best practices for trading and investing in cryptocurrencies. The skill path on cryptocurrencies also focuses on the fundamentals of crypto compliance

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Certifications for Boosting Your Career Resilience

The competitive job markets in the existing environment with massive layoffs demand professionals to showcase resilience. How can a professional stay strong in an uncertain job market? The answer would point to certifications you can earn after you upskill and reskill in new technologies. You can choose 101 Blockchains certifications as a viable choice to reskill in a new set of expertise. The six certifications on 101 Blockchains include, 

Each certification helps you capitalize on the benefits of upskilling and reskilling to strengthen your opportunities for career development. In addition, the assurance of flexible training with in-depth insights on practical use cases and examples serves promising benefits. The certifications help in boosting the skills required for real job roles of blockchain professionals. Most important of all, you would have valid proof of your blockchain skills and Web3 skills to secure your career.

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The burden of unprecedented layoffs in the domain of IT has been quite massive, especially in recent times. Big tech companies announced huge layoffs in 2022, and the trend will continue in 2023. At this point in time, questions such as “What is the best way to handle layoffs?” can lead to numerous responses. 

However, the most effective response points to choosing technologies that would define the future of tech. You need to develop skills in technologies that organizations will use in the future. Blockchain and Web3 serve as the perfect choices for upskilling and reskilling to handle IT layoffs. Start your journey of developing valuable skills in blockchain and Web3 with professionals right now.

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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!   


About The Author

Founder & CEO of 101Blockchains

Aviv is a senior-level executive with 12 years of experience in technical, operational and business roles. He has significant experience in building enterprise products utilizing Big Data & AI. With expertise in launching, running, and growing programs and projects all the way from startups to Fortune 500 companies, Aviv has worked across a number of industries, business models, and technologies. He also has a proven track record of building and managing teams, products, and business strategies.

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