Small and medium-sized enterprises (SMEs) make up a whopping 99.9% of the UK’s business population. However, despite their significant presence in our economy, many are feeling the pressure to keep up with the digital advancements of larger corporations.
There is a constant demand for digital upskilling and a deep knowledge base required for implementation, particularly within SMEs. The Federation of Small Businesses (FSB) revealed that 38% of SMEs in the IT sector are finding it tough to grow due to a shortage of appropriately skilled staff.
A focus on digital training is crucial in allowing businesses of all sizes to thrive. It unlocks access to top talent, slashes tedious admin work, and boosts overall productivity.
Ross Pearson, Head of Small Enterprise at Virgin Media O2 Business, looks at how business leaders can create a strong digital culture in SMEs, enabling them to keep up with larger competitors and make the most out of tech investments.
Adopting new technologies
Findings from Virgin Media O2 Business’s Tech Untapped report reveal that nearly two-thirds (64%) of SMEs rank growth and maintaining their current financial position as the top priorities for their business strategy. Yet, with a range of external challenges facing organisations, the battle to stay profitable is tough.
Choosing the right technology can bring transformational benefits to business efficiency, from reducing time spent on heavy admin tasks to improving delivery accuracy. So, it’s no surprise that 79% of small business owners in the UK consider the adoption of new technologies critical for future growth. However, one major roadblock is the lack of digital talent, with 29% of those polled stating that the ongoing shortage of skilled workers poses a high or very high risk to their business.
With larger competition likely able to attract larger talent pools, digital training needs to be higher on SMEs agendas to ensure their workforce can navigate on-going digital progress.
Focus on digital upskilling
Effective training programmes support SMEs needs, and they meet strong demand from employees for better skills training. According to Virgin Media O2 Business’s Battle for Talent report, 42% of employees would be more likely to stick with their current job if their employers offered more regular, hands-on training in digital tech.
Targeted and effective digital training programmes are crucial in supporting SME growth. By focusing on digital upskilling, SMEs can offer current and potential employees a clear path to professional growth. The right digital training can provide a competitive edge over larger corporates, especially when going after the same talent pool. Adopting to modern working practices is another tool for attracting future talent. The Battle for Talent report found that 42% of employees consider clear hybrid working policies to be a key priority when looking for new roles. By investing in digital infrastructure and training, SMEs can not only accommodate hybrid work but highlight this as a specific strength of their workplace culture. Once talent enter the organisation, employers need to make technical upskilling a priority. Communicating effectively about upcoming tech investments helps create excitement and supports effective rollouts; this improves the overall experience for staff and makes your company a better place to work.
Build a digital culture across your whole workforce
When SMEs invest in new technology, they need to offer tailored training that fits different digital skill levels. A one-size-fits-all approach won’t give you the results you need.
While some might assume that younger employees have a competitive edge over older colleagues when it comes to digital skills, this isn’t always true. Nearly half of UK employers (48%) believe that young people are leaving full-time education without adequate advanced digital skills, and the number of students taking IT subjects at GCSE has dropped by 40% since 2015.
Therefore, training should be flexible, with room for feedback and adjustments to meet real-world needs and ensuring all staff have training opportunities. Taking employee input seriously, before, during and after rollout, can also boost engagement, increase participation and make the training more effective.
For a digital training strategy to really work, it should be a core part of the company’s culture. This means having strong support from leadership and allowing time to successfully adopt new tools.
Reach your digital potential
To stay competitive and meet industry demands, investing in the right technology is crucial. However, without a solid upskilling strategy for your team, and the patience to see these through, tech investments won’t achieve their full potential.
For SMEs to compete effectively in the market, it’s vital for business leaders to make regular digital skills training a priority and implement targeted upgrades to improve business delivery and employee experience in the long-term. By doing so, SMEs can differentiate themselves with a workforce that can reap the benefits of a strong and fully integrated digital culture.
