Attributed to Kathy Schneider, CMO at Sungard Availability Services
It is essential for organisations and businesses today to adopt new technologies, solutions and systems in order to remain competitive and achieve vital growth.
However, the current pace of change and rapid emergence of technological innovations is making it increasingly difficult for companies to find staff with the necessary specialised skills.
Forward-focused companies are increasingly aware of the importance of learning and development at work and that the regular upskilling of current employees is just as important for ensuring a company’s workforce can capitalise on these new technologies and enjoy competitive advantage.
Training is future-proofing
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
Continuous employee development is vital for businesses to future-proof their organisation. New applications and tools continue to shake up the way businesses are run. Ensuring your employees have the expertise, as well as the mindset, to welcome and use them is essential. Employees need to feel supported by and committed to their organisations and be confident they can do their jobs now and in the future.
Unfortunately, recent research by Sungard reveals this is not currently the case: both IT decision makers (31%), and line of business decision makers (41%) have labelled skills as the biggest issue impacting digital initiatives, yet seven in ten employees claim they’re not getting the training or tools they need. Here we see a true divide with organisations identifying a lack of skills as a pitfall, but not doing enough to ensure that staff are able to rise to the challenge and upskill themselves.
It’s crucial that organisations put in place a training strategy to ensure their workforce can develop the skills they need to use new technologies and retain their competitive edge. In addition, having a loyal and dedicated workforce that feels enabled and valued can help them avoid potential staff retention issues. Upskilling staff through schemes such as Learning at Work Week is a crucial aspect of tackling this issue and shows that their growth and development is important to the wider business.
An advocate for technology training
It would be rare to find an organisation that denied the importance of having regular training. However, many still aren’t offering enough opportunities to their employees to develop technical skills – and a reason for this is that they struggle to define who the responsibility lies with.
One of the challenges here is that training sits naturally within the HR department; but technology requires the application of specialist knowledge, and given digital tools are constantly evolving, HR personnel alone may find it difficult to guarantee a successful transition into the digital age.
As a solution, organisations should promote a cross-functional approach to identify skills needed by different departments, and leverage experts from inside the business itself. In marketing, for example, we have seen the emergence of new software and SaaS models across CRM and marketing automation to help run and measure marketing programs. These often require new skills, some of which can be found in sales operations. In certain cases, having ‘super-users’ who can train and support other team members within and across organisations can be an effective way to cultivate the new skills required. An effective Leaning and Development strategy should tap into the transferable skills across organisations to help employees develop and adopt new tools.
Digital adoption and wider cultural change
While it requires an investment of time and resources, driving a wider cultural change in your organisation is the best way to ensure digital adoption and get the most out of your employees. The businesses that survive the turbulent times ahead will be those that bring employees on board and invest as much time into training them as they do in hiring fresh blood.
Moreover, training is no longer something that only happens once a quarter, or even once a year. It needs to be woven into your business’s fabric. A cross-functional approach ensures gaps are identified and internal knowledge is leveraged.
The business world is in a state of flux, and organisations will need to manage and adapt their organisations as they encounter unpresented challenges. The market is tough; with Britain’s departure from the European Union imminent, and regulatory changes such as the introduction of the GDPR having serious implications for data protection, business leaders will need to ensure they are benefitting from the technology at their disposal. If they want to gain competitive advantage, organisations simply can’t afford the neglect their strongest asset – not the technology itself, but their staff.