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4 Things Businesses Can Do NOW to Succeed in the Knowledge Economy
Governments, universities, and businesses must work together for the knowledge economy to fully prosper, but companies must be proactive to ensure their own success.
1 Develop leaders Leadership and management will play a huge role in whether or not a company can envision and execute a plan to succeed.
Investment in leadership training and development will yield results in financial performance, talent attraction and retention, organizational agility, and employee productivity.1
2 Find the Right Employees Figure out which key roles your company is missing or where you need additional talent.
Hiring the right talent ensures your business can compete in emerging fields and markets.
3 Invest in Current Employees Employees with the right skills keep your company competitive. Moreover, 31% of employees cite training/ education as a benefit that would increase engagement and loyalty.2, 3
Grant employees access to courses and certifications or to online libraries and on-the-job training so they have the skills to drive the company forward.
4 Retain Top Talent Investment in employees will yield no results if a company cannot retain them.
Focus on office culture and employee engagement. Offer training programs and advancement opportunities. Employees who have opportunities to develop are twice as likely to say they will spend their careers with that company.3, 4
Taking these steps can put companies far ahead of the competition and be the impetus to succeed in the knowledge economy.
To learn more about positioning your organization and equipping your staff to excel in the knowledge economy, check out http://news.wiley.com/LP=1350. For further information please contact: Lowri Gregg Associate Market Development Manager firstname.lastname@example.org
Sources: 1 Is Leadership Development Worth the Investment.” SlideShare. N.p., 28 May 2015. Web. 26 Aug. 2015. <http://www.slideshare.net/wiley/slideshare-is-leadership-development“ worth-the-investment>. 2 regory, Adrianna. “What Benefits Increase Employee Loyalty and Engagement?” Workforce 2020. N.p., 08 Dec. 2014. Web. 28 Aug. 2015. <http://2020workforce.com/ G 2014/12/08/what-benefits-increase-employee-loyalty-and-engagement/>. 3 arter, Brandon. “EMPLOYEE ENGAGEMENT & LOYALTY STATISTICS: THE ULTIMATE COLLECTION.” Access. Access Development, 05 Aug. 2014. Web. 01 Sept. 2015. C <http://blog.accessdevelopment.com/index.php/2014/08/employee-engagement-loyalty-statistics-the-ultimate-collection>. 4 dkins, Amy. “Only 35% of U.S. Managers Are Engaged in Their Jobs.”Gallup.com. N.p., 02 Apr. 2015. Web. 27 Aug. 2015. <http://www.gallup.com/businessjournal/182228/ A managers-engaged-jobs.aspx>. Photo credit © Johnny Greig / istockphoto.com Wiley is a registered trademark of John Wiley & Sons, Inc.