Also known as “universal” or “portable” skills, transferable skills are useful across job roles and industries. For example, communication and time management are transferable skills because they are applicable in numerous job roles, from customer service to front-line management. Transferable skills benefit both learners and companies: Organizations that invest in developing employees’ transferable skills are better equipped to transition employees into new roles, or even across business functions, as needed. Employees with transferable skills have a competitive edge in the market, especially when switching job functions or industries. Also see: Cross-skilling.