An important part of being in a business-related industry is keeping up with the latest trends and innovations across the business spectrum. I recently was reviewing some notes from an all-day summit I attended a while ago that was put on by The New North. The New North is a non-profit marketing and economic development organization made up of business leaders throughout Northeast Wisconsin.
Each speaker had a wealth of new information to share, and I remembered being especially interested in what the keynote speaker and owner of Imperial Consulting Corporation, Ed Gordon, had to say. Gordon is considered a “human capital expert” who helps companies solve workforce needs.
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 your company. 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 industries 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 updated 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 the companies you consider, deciding if more training might improve the company’s bottom line.
It’s a whole new world out there…and business is looking up with the help of training resources available to everyone. Call me if you would like to talk about this part of your total business package. 920-621-3110