Training: Secret to business success?

LinkedIn recently published their annual list of the most sought-after skills employers are looking for in 2017. Amongst the skills noted, it was great to see data analytics take the spotlight, with statistical analysis and data mining holding strong again this year at #4 for Singapore employers (#2 globally). For the first time ever, data presentations, which is visualising data, also made the global list in the #8 spot¹.

Considering the push to boost innovation across industries – in particular, through better understanding of data – it’s no surprise that the demand for data analytics skills is as high as ever.

In line with this (and as part of the country’s Smart Nation push), this year, the Singapore government launched the TechSkills Accelerator (TeSA), a skills development and job placement hub for the information and communications technology (ICT) sector. Data analytics courses are amongst some of the key courses offered through TeSA².

This is after the Info-communications Media Development Authority (IMDA) of Singapore recognised that the country is currently short of nearly 30,000 information technology professionals, in fields including data analytics³.

So what does this mean for the future of employment?

It’s a reminder that people are Singapore’s and organisations’ most valued assets. As such, employers should ensure that the right programmes are in place to help their employees grow and thrive. A comprehensive training or fast-track development programme is one way to instill an engaged and thriving workforce.

When it comes to training, organisations should also ensure they are offering the latest technology and most relevant skills. Looking at the LinkedIn results, and specifically at stastical analysis and data mining, there are a number of ways to train and equip employees in this area.

Here are four key points I’ve found helpful for fostering employee development and improving staff retention:

1. Cross-department training
Employees with adaptable and collaborative working environments tend to be more productive and efficient with their work. The same thought can be applied to internal training.

One way of doing this is through providing cross-department opportunities. For example, bringing the marketing team alongside the sales team to learn about latest negotiation techniques. Or sharing new technology tools across departments so that teams understand the ultimate benefits to the business.

This allows employees to improve their proficiency levels within their role and outside of their current responsibilities. Additionally, it can be motivating for employees to learn how processes work throughout the business, from start to finish, and how they contribute to the final results.

2. Looking externally
Another way of doing this is by sourcing for external experts to come into the office and deliver a workshop on a current industry trend. You might not always have the people available internally; which is why looking beyond the four walls of your office provides a great opportunity to explore new and diverse subjects.

One example is at Tableau APAC – we have a yearly APAC All-Hands Meeting where we bring together the entire APAC business. During these meetings, we invite a diverse range of external experts – from business partners to NGOs – to share key learnings and present examples of how data analytics is supporting their work. Employees walk away with a fresh perspective that helps them tackle challenges and develop new ideas.

3. Self-paced training
It’s no secret that in many cases, small businesses don’t have a lot of resources to pour huge sums of funding into training. In-person training will always remain a preferable method of employee training; however online solutions via videos, webinars, and whitepapers are an effective way of up-skilling employees.

Take data analytics skills as an example. There are a number of online training videos and courses that allow employees to learn at their own pace, and then apply that learing to their day-to-day work. In fact, busy working Singaporeans can very easily apply their SkillsFuture credit to online courses from providers such as Coursera and Udemy. These portals are amongst the many that offer a number of tech and data analytics courses at varying levels of expertise.

When resources are tight, it’s important for employers to be flexible in their approach to training. This means being aware of the latest online training tools and giving options to employees so they can learn at their own pace, and at a time when it’s convenient.

4. Keep training relevant
This may seem obvious but providing training that is relevant to not just the role but to the broader industry landscape is vital for the continuing success of your business. Matching skills and jobs has become a high-priority for many businesses which now recognise that skills are a critical asset for employee motivation and retention.

What does this mean for employers? Ensure you are aware of what’s happening in your industry – the latest trends, research and developments – so that you bring bigger picture thinking to the kind of training you offer. With this perspective, you’ll be well placed to offer the most relevant training to employees.

There will always be new competitors and innovations popping up. The latest LinkedIn report, and the data talent gap in Singapore⁴, shows us that to stay ahead, employers should be asking if they are skilling up employees with the most relevant and consistent training.

To those that think of training as a ‘nice to have’ incentive, think again. In today’s business environment, ignoring the development of important skills now could mean losing out tomorrow.

¹LinkedIn Unveils The Top Skills That Can Get You Hired In 2017, Offers Free Courses for a Week, LinkedIn, October 2016
²TechSkills Accelerator (an initiative of SkillsFuture), IMDA, Budget 2016
³IT talent in short supply amid Smart Nation push, IMDA, February 2016
⁴SkillsFuture, Singapore