What future skills must businesses invest in today?
August 2024
As technology and digital transformation continuously reshape our industries, the skills our teams need to succeed are evolving faster than ever. The world of business is constantly changing, so staying ahead is more than just a useful tip — it’s essential for growing your business.
To keep hold of that competitive edge, you need to invest in the right future skills. That way, your company is prepared to navigate the complexities of the digital working world.
In this blog, we guide you through the essential skills that will empower your workforce and drive sustainable future success for your company.
Which future skills are important for business growth?
Tech skills
In the quest for business growth, tech skills stand out as a particularly crucial future skill to invest in. Training your staff in these skills not only propels business success, but also significantly benefits them, enhancing their career prospects and job satisfaction.
Here are some of the most important tech areas to upskill your teams in:
Cloud computing: With cloud computing skills, your employees will be able to scale operations quickly and cost effectively, giving them the flexibility to adapt to changing market demands. This is because they’ll have access to scalable computing resources like storage, processing power and applications, without the need for bigger investments in infrastructure.
Cybersecurity: Cyber threats are becoming more and more sophisticated, so upskilling your teams in cybersecurity skills means they will be equipped to handle and protect sensitive data, maintaining trust with your customers as a result.
Artificial intelligence (AI) and machine learning: These technologies are revolutionising the world of work, with more than 50% of companies planning to incorporate AI in 2024. Companies are using AI to automate processes, enhance decision-making, and deliver personalised customer experiences. Teams with AI and machine learning skills lead the charge in terms of innovation, driving significant value for your company.
Big data analytics: Having a team skilled in big data analytics allows your business to glean actionable insights from vast amounts of data, driving strategic initiatives and improving operational efficiency. It also means that your employees can play a larger role in key business decisions, as they’ll have more insight into analysing company data.
Blockchain technology: A blockchain is a type of shared database that stores data in ‘blocks’ that are linked together using cryptocurrency. This is one of the most important technologies driving transformation in business. It improves transaction processing by boosting its efficiency, and helps to reduce manual tasks such as data collection, reporting, editing and auditing. It does this by automating processes through smart contracts, which are self-executing contracts with the terms directly written into code. This eliminates the need for intermediaries and manual verification.
Employees skilled in blockchain will be in a great position to capitalise on emerging trends and contribute to cutting-edge projects within your organisation.
Virtual and augmented reality: These technologies are transforming customer engagement and training, offering immersive experiences that can set your company apart from competitors. For your team, having expertise in VR and AR opens up creative and innovative career avenues, enhancing job satisfaction and professional growth.
Investing in these tech skills lets your company harness the power of innovation and drive sustainable growth in a rapidly evolving digital landscape. And it’s good news for your employees, too. They benefit from enhanced job security, career advancement opportunities, and the ability to contribute meaningfully in the workplace.
Power skills
Power skills are invaluable for companies looking to future-proof their business. Skills such as critical thinking, problem solving, empathy and active listening enhance productivity and innovation by creating a workforce that can analyse complex situations, devise effective solutions and make informed decisions. Here are some of the most important power skills to train your teams in:
- Critical thinking
- Problem solving
- Active listening
- Teamwork
- Emotional intelligence
- Empathy
Leadership skills
Your company will always need great leaders. Strong leadership skills are invaluable for team cohesion, strategic decision-making and overall business success.
Honing leadership skills among your teams builds confidence and fosters opportunities for career progression. Skills to focus on include:
- Effective communication
- Conflict resolution
- Strategic thinking
- Negotiation skills
- Adaptability
- Time management
- Relationship-building
By prioritising leadership development, you can cultivate a culture of excellence, while your employees gain the tools they need to lead, innovate, and excel in their careers. It’s a win-win!
Boost your team’s future skills with UpSkill Universe
Whether you need to improve your company’s digital skills or upskill tomorrow’s leaders, we’ve got a programme for you. Prime your team with the future skills to succeed by getting in touch today!
