By Mark Debono, VP for UK at Cornerstone
Small and medium-sized enterprises (SMEs) and mid-market companies are the unsung heroes of the British economy. These businesses, typically employing between 50 and 5,000 staff, have grown beyond their startup roots but haven’t quite reached large enterprise status. Despite individual successes, this sector continues to face significant challenges, grappling with broader economic hurdles. Nevertheless, it remains a resilient and optimistic force, poised to play a crucial role in Britain’s future prosperity. For these businesses to succeed however, it’s imperative that their workforce receive proper HR support and resources.
Each organisation, regardless of size, grapples with its own set of HR challenges. Talent teams in SMEs and mid-sized companies face the pressure of replicating the learning and employee experiences offered by larger enterprises, but with more limited resources and budgets. This is where leveraging the right technology can be transformative.
However, some organisations still fall into the trap of acquiring various incompatible bolt-on platforms. This approach is neither economically viable nor conducive to a positive employee experience. A unified approach is the foundation of a positive experience, and there are several key HR areas that SMEs should prioritise.
1. Supercharging growth through Data-Driven Learning Content
Today’s employees are moving away from lengthy e-learning courses or workshops. Instead, they prefer a hybrid model with tailored, short-form content. How can SMEs facilitate this shift? The answer lies in making data-informed decisions.
Data empowers executives or HR teams to make intelligent choices about content curation and development, ensuring it best supports their workforce. For instance, aspiring leaders in the retail sector require different skills and training compared to those in the legal sector. AI-backed learning technology can automatically curate relevant learning modules and collections in the employee’s preferred format. With robust reporting and analytics, HR teams can spend less time tracking learning progress and more time focusing on tasks that require their expertise.
Moreover, by leveraging AI and data analytics, companies can create personalised learning paths for each employee. This approach not only enhances engagement but also ensures that learning is directly aligned with both individual career aspirations and organisational goals.
2. Placing Skills in the spotlight
Tailored learning content is crucial due to its impact on skills development. In today’s rapidly evolving business environment, SMEs must focus on tracking their workforce’s current skills and identifying those needed for future success.
A comprehensive skills ontology can be a valuable tool in this endeavour. This is a set of unique skills with defined connections or relationships to other skills or job roles. With a skills ontology, companies can benchmark and assess skills, close skills gaps, empower skills development, and enable strategic skills deployment.
By implementing a skills-based approach, SMEs can create a more agile workforce capable of adapting to changing market conditions. This strategy also enables more effective succession planning and helps identify potential leaders within the company.
3. Keeping your talent agile through internal mobility
Employees are increasingly seeking visibility into internal mobility opportunities, with studies showing that a significant majority want to know more about internal openings. Moreover, mobility is the natural outcome of effective learning and development initiatives. When employees consume relevant content and develop the right skills, the next step is ensuring they’re aligned with the most suitable roles.
Consider an SME experiencing rapid growth but struggling to make informed decisions about expanding into new markets and hiring talent. Why not implement an internal gig economy, where for example employees are offered three-month stints to try something new, with the option to go back to their original role if desired. The result? Holistic employee development, and better organisational decision-making.
Embracing the Future of HR
For SMEs and mid-sized organisations aiming for sustained growth, having the right technology is crucial, but mastering HR fundamentals is what will cultivate a positive, evolving workplace culture. Leveraging engaging, data-driven content that tracks progress ensures learning is directly aligned with both individual career aspirations and organisational goals. Beyond content curation, highlighting skills is essential for companies to remain current and competitive in an ever-changing business landscape. Fostering an agile workforce should be a top priority too.
Britain’s SMEs and mid-market organisations can build resilient, adaptable workforces capable of driving innovation and growth. With these HR strategies in place, businesses will be equipped to nurture an engaged, skilled, and future-ready workforce.
