Recently, I was having lunch with two business owners and our conversation turned to keeping up with the latest trends and innovations across the business spectrum. I told them about an all-day summit I’d attended a while back hosted by The New North, a non-profit marketing and economic development organization made up of business leaders from throughout Northeast Wisconsin. I said I had really enjoyed what the presenter and owner of Imperial Consulting Corporation, Ed Gordon, had to say. Gordon is considered a “human capital expert” who helps companies solve workforce needs. Here is my take on the presentation, which I wrote about in an earlier blog. The information is still relevant today.
As a business broker, I often have conversations with buyers and sellers about the workforce at a company: “Is it a strong workforce?” “Are their skills current?” “Should they stay?” “Would I want them to stay?” “Would a better trained workforce make this company more profitable?”
According to Gordon, today’s business owners have so many more options available to them in terms of training a workforce, and narrowing the “skills gap” is a strategic move that could add tremendous value to their companies. Businesses are now partnering with educational institutions and community organizations to creatively build better workforces, Gordon said.
In the case of engineering, for example, two University of Wisconsin campuses – Oshkosh and Green Bay – are adding an engineering degree to their programs. Northeast Technical College is already partnering with many industries to give workers the skills they need. Often times, owners will send their workers for specific and current training, knowing it will benefit the company in the long run.
If you’re a business owner who will be selling, think about how continued training of your employees now will make your business more saleable in the future. If you’re a buyer looking for a business, you will want to have a sense of the workforce skills at that company, deciding if added training might improve the bottom line.
It’s a whole new world out there…and the business climate is looking up with the help of high quality training resources now available to everyone. Contact me if you would like to talk about this part of your total business package. 920-621-3110 or firstname.lastname@example.org.