Why learning at work holds the key to a successful business

Why learning at work holds the key to a successful business Wed 22 Jun 2011 This article is reproduced with kind permission from the pages of Business Network, a magazine published by FSB Publications for the Federation of Small Businesses. The tough economic climate over the past two years has required businesses to develop a laser sharp focus on all forms of investment, writes Bill McGinnis from the UK Commission for Employment and Skills. Training budgets are just one of the areas feeling the squeeze. Whilst it might be easy to let skills development slip onto the back-burner in such a challenging economic environment, an encouraging number of SMEs recognise that continuing to invest in skills is not a soft option or a nice to have. The truth is, training doesn’t need to be expensive to be effective. For maximum effect, skills development should always be linked to business objectives. Sounds obvious, but do you know exactly what capabilities your employees need to drive the business forward? For some it might be great sales skills, client management capabilities or technical expertise that can drive product design and innovation. Once the required skills have been identified, businesses then need to understand where these skills already exist, where they need to be strengthened or even developed from scratch, and where significant skills gaps exist. Using your own people to coach and train co-workers requires careful planning and investment of time. This is inevitably challenging for smaller businesses which face considerable time and resource pressures. However, the rewards are fantastic and properly supported very cost efficient. Tasking employees with the responsibility of delivering training to their colleagues can be hugely empowering and fosters new skills for both those delivering and receiving the training. Developing such a programme inhouse also means that it is tailored to the needs of your business and employees. For businesses who want to improve their internal training and development drawing on external resources and perspectives is incredibly valuable. Talking to people and organisations who know your business best – your bank, accountant, suppliers or indeed customers – will help to refine your view of how your business and its people need to develop. Remember, these people are business experts in their own right and may let you draw on their advice free. It is also important to remember that in order to create a genuine culture of internal learning and knowledge improvement, the experience needs to be a positive one for employees. For some, learning at school or at college was not particularly enjoyable so making learning at work rewarding is vital. And, don’t forget to evaluate as this will drive continuous improvement. Also, it is important that business owners talk to their employees to understand how they are developing. Spending on training is an investment in people and it is important to measure that return. Get this right and the bottom line will look healthier and your workforce will be happier and more productive.

Wed 22 Jun 2011

This article is reproduced with kind permission from the pages of Business Network, a magazine published by FSB Publications for the Federation of Small Businesses.

The tough economic climate over the past two years has required businesses to develop a laser sharp focus on all forms of investment, writes Bill McGinnis from the UK Commission for Employment and Skills.

Training budgets are just one of the areas feeling the squeeze. Whilst it might be easy to let skills development slip onto the back-burner in such a challenging economic environment, an encouraging number of SMEs recognise that continuing to invest in skills is not a soft option or a nice to have. The truth is, training doesn’t need to be expensive to be effective.

For maximum effect, skills development should always be linked to business objectives. Sounds obvious, but do you know exactly what capabilities your employees need to drive the business forward?

For some it might be great sales skills, client management capabilities or technical expertise that can drive product design and innovation. Once the required skills have been identified, businesses then need to understand where these skills already exist, where they need to be strengthened or even developed from scratch, and where significant skills gaps exist.

Using your own people to coach and train co-workers requires careful planning and investment of time. This is inevitably challenging for smaller businesses which face considerable time and resource pressures.

However, the rewards are fantastic and properly supported very cost efficient. Tasking employees with the responsibility of delivering training to their colleagues can be hugely empowering and fosters new skills for both those delivering and receiving the training.

Developing such a programme inhouse also means that it is tailored to the needs of your business and employees. For businesses who want to improve their internal training and development drawing on external resources and perspectives is incredibly valuable.

Talking to people and organisations who know your business best – your bank, accountant, suppliers or indeed customers – will help to refine your view of how your business and its people need to develop. Remember, these people are business experts in their own right and may let you draw on their advice free.

It is also important to remember that in order to create a genuine culture of internal learning and knowledge improvement, the experience needs to be a positive one for employees.

For some, learning at school or at college was not particularly enjoyable so making learning at work rewarding is vital. And, don’t forget to evaluate as this will drive continuous improvement. Also, it is important that business owners talk to their employees to understand how they are developing.

Spending on training is an investment in people and it is important to measure that return. Get this right and the bottom line will look healthier and your workforce will be happier and more productive.