Digital Upskilling Can Give Your Business a Competitive Edge

Digital technology has transformed the 21st century beyond recognition. But for businesses, the constant march of technological advancement is both an opportunity and a threat. Staying up to date and making the optimum use of emerging technology can make your business work with better speed and efficiency, resulting in happy customers and superior margins. But if personnel lack the requisite knowledge and skill, that can be easier said than done.

A recent study commissioned by Microsoft found that two-thirds of hiring managers say they have difficulty finding suitably qualified digital talent. To market researchers, that is no surprise. Back in 2017, the Brookings Institution published a report titled Digitalization and the American Workforce. The study compared the level of digital skills demanded in 2002 and 2016 and found that while 56 percent of U.S. occupations required “low” levels of digital skills in 2002, that figure was down to 23 percent in 2016. Those requiring medium levels had risen from 40 to 50 percent, while jobs demanding high levels of digital skills from five percent in 2002 to 23 percent in 2016. 

Upskilling staff in terms of their digital capabilities makes them more valuable contributors to the business. It also means they can access higher-paying jobs, so it is beneficial for both businesses and employees. But it also brings challenges and demands investment of both time and money.  We have asked a cross-section of experts about the challenges of digital upskilling and how to do so with success. 

Is upskilling more cost-effective than hiring new staff?

Research we conducted in 2022 with senior business, HR and L&D professionals revealed that organizations value training employees through upskilling, reskilling and cross-skilling programs. It helps to retain good talent and valuable internal knowledge and demonstrates to employees there are multiple career paths within the company. It is also more cost-effective. When you consider the high costs for recruitment, the opportunity cost of replacing employees and the weeks or months it can take for new employee induction, upskilling can save businesses in the region of $35,000 to $45,000 per employee when compared to replacing them with new hires. Russel Kenrick, Managing Director at ILX

Where does a small business start when it comes to upskilling?

There are lots of different ways to upskill employees, it’s not all about training programs. There are two components to upskilling – one is employee-led and the other is business-led. An employee-led development program is where people have their own development plans in place. If your employees feel that they’re growing and developing their skills and that these skills suit their strengths and their career goals, they are going to be more satisfied and more likely to stay in their roles. Even though it’s employee-led, it still has a business benefit. Second, initiate a business-led program where you actively develop the skills you will need in your business over the next 12 to 24 months. One way to do that is to have a look at your strategy for this period, in terms of your company goals and strategy. Karen Kirton, founder of Amplify HR.

How do you stay ahead of the curve in adopting new digital strategies for engaging students?

“The SAT recently went digital. In 2023, College Board made available new official digital practice tests. I took the full exam and shared my findings with prospective clients.  I then adapted all of my materials and seminars to include all the changes involved with the SAT going digital.”  Steve Odabashian, President and Founder, Main Line Test Prep and Tutoring

What specific digital skills are becoming essential for professionals in the fulfillment industry?

As the owner of a successful fulfillment business, I can say that digital skills, especially in warehouse management systems, are crucial to our operations. WMS allows us to track inventory in real time, manage orders, and maintain transparency throughout the process. From receiving goods to shipping them out, it helps us optimize workflows and reduce errors in our daily warehousing and client's working of Prep Centers network Fulfillment-Box.

Every employee undergoes thorough training in using the WMS, ensuring that the entire team, from the warehouse floor to management, can handle tasks efficiently and spot potential issues early.

Data analysis is also vital. In today's environment, working with large amounts of data is essential for making informed decisions, such as predicting demand and refining our supply chain. Without solid data, staying competitive is challenging.

Additionally, our CRM system plays a key role in managing client relationships. It helps us track customer interactions, orders, and feedback, ensuring we remain in sync with our clients' needs. This clear line of communication allows us to address issues quickly and maintain smooth service.

Together, these skills and tools are essential for thriving in a fast-paced industry and meeting the high standards our clients expect.

Vitali Grenz, Founder and CEO of Fulfillment-Box Network

How can learning new digital skills enhance your work/life balance?

We have so many digital tools at our disposal these days, and it can be overwhelming, but it can also really help with work/life balance, or as I prefer, work/life harmony. Here are a couple of ways that learning new digital skills can help reduce our workload and mental load, thereby helping us acheive that oh-so-elusive balance we seek.The first is embracing AI. Learning how to properly prompt, and interact with, LLMs like ChatGPT can help with everything from writing that tricky email faster, to doing research for you on options for everything from soccer lessons for your toddler, to comparisons between different software vendors.  If you start asking yourself “could the AI do this?” you might find that a lot comes off your plate quickly. The second is shifting to digital task management. By going digital with your tasks and to-do's, you can make them much easier to capture, sort, prioritize, and reprioritize. This reduces the overwhelm of trying to keep track of everything in your head or on scattered pieces of paper, or multiple lists and systems. There are so many simple, affordable options available. Alexis Haselberger, Owner of Alexis Haselberger Coaching and Consulting

What areas of upskilling should Virtual Assistants be focusing on right now?

As a seasoned VA, I recommend focusing on skills in high demand right now. While AI has made its way to the scene, business owners are still in need of Virtual Assistants who are strong copywriters, graphic designers, social media experts, and funnel builders. These are oftentimes huge pain points for entrepreneurs. If you can come in with an upleveled skillset and strong work ethic, you're going to be irreplaceable! Amanda Rush Holmes, Founder and CEO of Notoire Media House