What Skills are Needed For Businesses to Thrive
Unlike the United States and most countries in Western Europe, Australia has enjoyed a relatively robust economy and low unemployment rate for more than a decade. Today, while overall US unemployment has remained stuck above 8%, ours is just above 6%.
Yet, 92% of senior executives in Australia acknowledge there is a serious gap in workforce skills. From traditional talk about measuring aptitude in science, technical, and computer skills, to a cited a lack of soft skills, such as communication, critical thinking, creativity, and collaboration, the skills gap may start having a serious effect on today’s job seekers and business owners.
Businesses are already struggling to find attractive candidates, and the current deficit of middle-skilled workers may only increase. The generation of our workforce that is set to attend secondary education within a decade faces university fees that may double and a lack of quality on-the-job training. Due to Australia’s job security and wage inflation, those workers may follow an increasing number of alternative or trade-specific paths, leaving businesses at risk for a potentially critical skills shortage in years to come.
Identifying the Skills Relevant to Generate Your Growth
Each employee within a business — though, particularly those with 50 employees or less — can help shape the fate of the overall organization. While companies can overcome a lack of productivity or recover from a bad hire, having the wrong employee in the wrong role can sometimes mean the difference between staying in business and closing up shop for good.
Whether in your early years of building a team or seeking to enhance your workforce through employees with specialized experience, here are some skills you just can't do without as a business owner:
You can't escape numbers in business. While your current operation may not demand the high-level skills of an accountant, the employee you choose to keep track of finances should be able to grasp balance sheets, profit and loss sheets, and do basic bookkeeping.
Additionally, when seeking an employee to handle financial matters, make sure they can grasp your unique business model and pricing structures to avoid costly mistakes down the line.
The mission of marketing has evolved significantly in recent years, and so has the makeup of which skills define desirable marketing talent. Today, along with building brands and product strategies, it’s just as important to be able to build a strong social media presence, generate leads, ensure conversions, and to create and execute strong content marketing strategies.
However, to accomplish all of that, you need candidates with a strong marketing background on your team. And while many applicants say they have the right experience, the truth is very few can deliver.
Qualified project managers have the skills you need to keep your projects running smoothly. They may utilize a variety of methods — scrum/agile, waterfall and others — to oversee all aspects of a project for coordination and completion. They should also feel confident establishing deadlines, assigning responsibilities, monitoring progress, informing team members, managing budgets and summarizing progress to leadership.
Depending on the level of support from a project manager your organization requires, look for candidates with a bachelor's degree and at least two to four years of relevant experience.
Hiring managers help you to select candidates that meet your needs and support your vision. Your choice for human resources employees should exhibit a keen understanding of the value and importance of people, as there's perhaps no one in your organization who's better positioned to implement effective workforce solutions.
Business owners looking for high-end Human Resources support can catch a break by utilizing a recommended staffing agency to help meet their labour hire and job placement needs. Top staffing agencies use recruiters with direct experience in niche industries to offer business owners cost-effective leverage when looking to attract top talent.