How do you Learn, Innovate and Compete in Today's Knowledge Economy?

We all know knowledge is power, but, increasingly, it's also capital. The modern knowledge economy asserts that the information people store in their minds can be used to generate revenue and create a competitive advantage. After all, replacing a person on your team who has incredible subject matter expertise is difficult, and often requires time and money. As such, investing in your staff, looking for knowledge and supporting individuals as they develop their mental skills can ultimately improve your company's performance.

It's no surprise that companies are focused on finding skilled employees. In fact, according to a study by Spherion, 65 percent of companies are concerned about finding talented employees, and HR departments across the country say finding qualified individuals is a challenge. Despite the effort required to hire excellent individuals, there are ways your company can position itself as a leader in the marketplace.

Discovering existing talent

Because finding talented staff is both challenging and important, turn your gaze to the employees you already have. Yes, continuing the search for knowledgeable staff is a wise endeavor, but you can also help your current employees become the information resource your company needs in this modern economy.

Spotting talent: When it comes to discovering existing talent and fostering growth, staying diligent is important. Train your managers to look for skills in their staff by going through projects they've worked on or assignments they've handed in. eLearning coursework designed for those in leadership roles can teach managers how to recognize talent in those they work with. Once you discover what skills your staff has, you can properly invest in their future at your company and give them the tools they need to continue honing their abilities.

"Employee development and training may help your company innovate."

Employee investment: After you or your managers have determined which skills staff members have, you can support those individuals as they work to improve. Assigning projects based on subject matter expertise and challenge level is one way to help employees become more knowledgeable, and therefore an asset. Carefully chosen eLearning content may target skills that provide a professional development pathway for your staff.

Look over our eLearning courseware library to find short and targeted videos that may benefit your staff. The small investment of training can go a long way in building a knowledge pool in your company. What's more, training can help your business become more efficient and effective overall. A study in the Journal of Business Strategy notes that employee development and training has the added benefit of inciting change and growth throughout the company. So, not only can this investment produce a more knowledgeable staff, but it may help your company innovate as a whole.

Learning to look for talent externally

Every job offer you present is a bit of a risk. The interview process helps you get to know candidates, but you won't see how they work until you hire them. However, learning the best practices for conducting interviews and communicating with potential employees can make finding those elusive knowledgeable individuals easier. For this reason, training your management and recruiting teams to seek talent and what it looks like when they find it can give your company more of a strategic advantage.

eLearning courseware that targets interviewing and recruiting could benefit your company. In addition to training managers on human resources basics, provide them with strategies for finding the cream of the crop. Whether you use custom videos that help you create a company brand or choose from our library of eLearning courseware, you're sure to develop a training program that helps you build the knowledgeable staff you need.

employee, office, work, trainingIn today's knowledge economy, employee investment is more important than ever.

Innovating and competing 

As you establish a workforce of qualified, knowledgeable staff, use them! Training and development are investments, and the employees you support want to start using what they've learned. In an economy where knowledge helps you find creative solutions and develop innovative ideas, the people in your office are more valuable than anything else.

ej4 can be a partner in establishing your place in today's knowledge economy. With eLearning courseware you can integrate into your company culture, we've got your training and development needs covered.

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