By: First Union
You Can Win the War for Talent By Looking In-House
With AI and machine learning automating more and more jobs, the candidates who understand how to work with and interact with this type of technology are in high demand. That said, such talent is scarce in relation to the needs that have to be filled by companies across the country. So what can be done? Especially as a small business competing with major brands, how are you supposed to win the war for talent? The answer, proverbially speaking, could be right in your own backyard.
Lately, there has been a push in many companies not to go out and hire new talent, but to reskill the talent they already have. In other words, you have the resources, the tools, and yes, the talent right there at your disposal. It's a matter of implementing a training/reskilling program that targets those weaknesses and gaps which need to be addressed in order to keep you competitive—and help make that employee more proficient at their job.
Some tips for more effective training and reskilling your current employees as you prepare your business for the future of work…
- Utilize in-the-moment learning. There are currently so many tools, systems, and platforms available that can in fact help you to deliver learning when it is needed—not long after the fact when the impact will be far less. When an issue arises, when you see an employee struggle, that is the moment when a learning module or some form of training should be administered. Again, today's technology enables you to offer such corrective learning immediately, even via handheld devices.
- VR for learning. The exciting world of VR has entered the L&D sphere. So there are opportunities for integrating virtual reality into corporate training and reskilling programs.
- Study the current and future labor market. While it may be impossible to in fact predict exactly what "work" will look like in the next decade (or even the next five years/) having as much of an understanding as you can about what potentially could happen will enable you to reskill your employees accordingly.
- Personalize your approach. Not everyone learns in the same way. This is why it is critical to have the data on each and every employee so that you can identify their strengths and weaknesses and gear their learning program to best suit their individualized needs.
- Offer rewards and recognition. All employees like to be told that they are doing a good job. Upskilling isn't all about corrective actions—it is thus important to take time to recognize when a worker has reached a certain milestone in their learning process.
If your company is ready to implement a more robust training program, then First Union Lending can help! Our small business loans can be used for just about any project you have in mind, including adopting more advanced training platforms and systems. Even if your credit score is less than ideal, we likely still have a funding solution for you. Call today!