Why Upskilling Your Startup’s Team Has Never Been So Vital

CEO Magazine states that upskilling, reskilling or newskilling are some of the most powerful tools you can use to futureproof your startup. For founders, upskilling is the process of training your team to learn new skills rather than filling the talent gap. Investing in the growth of your team will better internal and external communication and give your startup an edge over the competition. In fact, research reports that upskilling provides a range of important benefits including enhanced employee engagement, productivity, accelerated digital transformation, and improved talent acquisition and retention. Basically, a skilled team means higher overall gains for your startup.

The recent digital economy boom has enabled advances in technology spurring a shift toward tech models and customer-centric dynamics. This ever-evolving landscape means that traditional roles are quickly disappearing to make room for new ones, so upskilling has never been so essential. Fortunately, keeping up with these inexorable changes is becoming more accessible with modernised startups now leveraging dynamic technologies like EdTech to keep up with demand. At Allied Legal, we have provided the following advice on upskilling your startup team below:

Take Initiative

In January 2019, a survey found that 46% of CEOs were in favour of upskilling their workforce to fill the skills gap. But 12 months later, only 18% said they had made significant progress. Hence, good leadership involves not only recognising the need for change but having a clear vision about where you want your startup to be and then taking the steps to make it happen. According to Bhushan Sethi, Joint Global Leader of PwC’s People and Organisation practice, “if words are followed up by real actions, it demonstrates leadership’s commitment to its people.” Retaining your talent by taking initiative will benefit your team and help your startup to respond to today’s challenging business landscape.

Choose the Right Skills to Teach

Deciding which skills to teach can pose a challenge for founders looking to upskill their team. As a founder, you will need to be proactive in identifying the gaps in your team’s skill set and schedule regular training to fill these. Both individual training and personal development can be extremely useful. Typically, a combination of the two will boost team morale and increase your team’s effectiveness.

Leveraging the EdTech Startup Boom

Startups are now leveraging the growing pool of online training courses offered by EdTech startups and companies to bridge the gap of what the business market now demands. Online courses and EdTech platforms have risen in popularity over the past few years due to global digitalisation and the accessibility the platforms afford. EdTech startups and platforms like Coursera and Great Learning are providing reskill and upskill programs to ventures through an array of interactive learning options. This can include live virtual classroom models, e-learning content, micro-learning models and more.

It Doesn’t Have to be Expensive

There are numerous short courses available through platforms such as LinkedIn in areas such as strategic thinking, communication, digital competencies, and business writing. Some courses are available for as little as $25 per month. Alternatively, many founders are upskilling their startup team through EdTech startups and platforms that only require a monthly subscription. This can be more affordable than forking out for each individual training session.

Need Help? Contact Us

At Allied Legal, we are continuously learning and growing so that we know how we can best meet the needs of our clients. If you need expert legal advice, you can get in touch with one of our startup experts on 03 8691 3111 or send us an email at hello@alliedlegal.com.au.