Why Investing in Skills Development is a Savvy Business Move
The business landscape keeps changing. This is especially true with so many technological advancements every year in virtually all industries, from marketing to manufacturing to finances. Therefore, businesses need to invest in staff training and skills development solutions to keep their employees up to date and maintain a competitive edge. MANCOSA offers skills development programmes to help bridge the skills gap in your company. In this article, we discuss the role of development and how you can invest in quality training for your workforce.
Authors
MANCOSA
What is skills development?
It’s a strategic approach that focuses on growing a person’s capabilities and competencies to meet the evolving demands of the workplace.
This is especially crucial in South Africa because of the evolving nature of our economy and the need to address the high unemployment and underemployment rates.
This type of development involves training and educational programmes that equip staff with the competencies and abilities required for their roles, including:
- Technical abilities
- Communication skills
- Leadership abilities
- Problem-solving
- Critical thinking
- People skills
It ultimately aims to improve productivity, creativity, and company competitiveness.
How does this development look in a real-world scenario?
A South African tech company might implement a development programme that includes coding workshops and certifications for its staff. By investing in continuous learning and development, the company enhances the technical expertise of its employees and keeps pace with technological advancements. This can lead to better, more creative solutions and a stronger market position.
Relevant authority platforms for training and development in South Africa include:
- Skills Development Act
- The Council of Higher Education (CHE)
- South African Qualifications Authority (SAQA)
- The Department of Higher Education and Training (DHET)
MANCOSA is accredited by SAQA, DHET, and the CHE, providing high-quality education for all your company needs.
The role of skills development in present-day South Africa
Skills development is vital in South Africa’s current economic and business landscape. Numerous technological advancements and trends require employees to upskill more than ever. It benefits SA, its people, and the broader economy.
1. Enhancing employee performance
Development initiatives help employees gain the expertise and knowledge needed to excel. This increases productivity and performance since workers are better equipped to handle tasks.
For instance, a manufacturing company can offer technical training for its employees, resulting in more streamlined operations and higher output quality.
By promoting continuous learning and development, your company can encourage employees to think creatively and handle challenges with more out-of-the-box solutions.
For example, if a tech company invests in advanced training for its engineers, it will likely reap the benefits of improved products and more cost and time-efficient processes.
2. Boosting employee morale and retention
Offering development opportunities will lead to a more engaged and satisfied workforce. When workers see that you (as their employer) are committed to their learning and development within the company, they’re far less likely to leave.
This reduces turnover rates and doesn’t require you to spend so much on recruiting and training new employees.
It also helps maintain a stable and knowledgeable workforce, which means there aren’t frequent dips in company output, and clients will remain happy.
3. Meeting industry standards and compliance
Regular training ensures that workers are up-to-date with industry standards and regulations. This is especially important in industries with frequent developments, such as:
Not complying with these standards and rules can result in hefty fines for your company. So, prioritising training and development on legal issues should remain a top priority.
Companies that invest in skills training can also stand out in the market and deliver higher-quality products and services.
For example, construction companies that are current on safety standards and building techniques can differentiate themselves through superior services and reduced risk.
4. Addressing skills shortages
These development programmes help address skills gaps in critical business areas.
For example, a manufacturing company may discover that its production line is underperforming due to outdated techniques. In this case, it can send its workers to learn advanced manufacturing techniques, such as how to use new machinery.
This will not only help them perform better but also ensure a workforce that is qualified and adaptable to constant technological advancements.
How your company can invest in skills development
If you want to send your employees for training to enhance their capabilities and build a robust and future-proof workforce, then there are different things you can do.
- Corporate training solutions: You can collaborate with schools, such as MANCOSA, to design customised training programmes to address a specific skills gap within your workforce. These solutions can cover diverse areas, including leadership development, project management, human resources, and more.
- Online studies: MANCOSA offers a variety of online courses and workshops that allow employees to learn at their own pace. For example, digital marketing, data analytics, and financial management courses can help your workers learn new skills and discover the latest trends.
- Professional certifications and degrees: You can help employees obtain certifications through MANCOSA’s accredited programmes. Human resources, supply chain management, and entrepreneurship certifications can enhance employees’ qualifications and contribute to their career advancement. This benefits the employees and adds value to your company by ensuring a well-skilled workforce.
Register for skills development programmes with MANCOSA
Staff training and development are essential to maintain a competitive advantage in your industry. Sending your employees for corporate training, online courses, or professional degrees can help them stay current with the latest trends and developments.
Consider partnering with MANCOSA to get specialised corporate training solutions and skills development courses catered to your needs.
Or, if you’d like your employees to handle training solutions, consider sending them for the Higher Certificate in Human Resource Management so they can handle all your workforce needs.
