Socio-economic development is key to enhancing income levels, employment opportunities, infrastructure, and the overall economic growth of Canada.
Social development focuses on improving society’s well-being and quality of life. Factors that affect social development include education, the intensity of aspirations, and the quality of the skills, values, and attitudes one possesses. Economic development focuses on sustained improvements to a community’s economic well-being, productivity, and living standards.
Skills development programs act as a catalyst in fueling socio-economical growth and innovation. These programs are designed to enhance individuals’ skills, competencies, and abilities in specific skills and fields of work.
Current Challenges for SMEs
In 2022, it was recorded that 98% of businesses in Canada are Small and Medium-sized Enterprises (SMEs). SMEs are the backbone of our economy–driving innovation and inclusivity and fostering economic growth. That said, we can’t ignore the fact that Canada is facing a skills gap and for our small businesses to remain competitive, they need individuals with the right skills. On top of that, small businesses are battling inflation, rising input costs, and rising interest rates and are struggling to recruit and retain skilled employees.
Statistics Canada shows that “more than one-third (35.6%) of businesses with 1 to 19 employees [expect] to have obstacles related to recruiting and retaining skilled employees over the next three months, compared to around two-thirds of businesses with 20 to 99 employees (66.3%) and with 100 or more employees (67.2%).” When it comes to our workforce, challenges of recruitment and retainment are concerning. 76% of employees say that a company would be more appealing if it offered additional skills training to its staff. This is where skill development programs shine as our solution.
A Solution for SMEs: Skill Development Programs
According to a ‘Digital Skills for Today and Tomorrow’ report by the Conference Board of Canada in partnership with Future Skills Centre, projections from the report suggest that nine out of ten jobs will require digital skills over the next ten years. The report concluded that “training and upskilling are key to solving these digital skill gaps.”
In the world of skill development, various programs are available, from government programs like Palette Skills–which provides transition pathways to individuals who want to upskill and transition into new careers in innovative sectors–to private programs such as Lighthouse Labs, BrainStation, and Jelly Academy–which focus on upskilling, reskilling, and training in all facets of the digital world.
These skill development programs are key to bridging the digital skills gap. Nakia Myers, Director of Education Delivery at Lighthouse Labs, said, “Bootcamps and intensive reskilling programs … play a pivotal role as bridges … thereby converting potential into valuable opportunities.” At the rapid pace these programs run in combination with instruction from industry experts, these programs set the stage for upskilling, reskilling, and training our digital workforce.
Students participating in skill development programs receive the most tailored and necessary skills for their chosen field. “By compressing what would normally take years of learning into a matter of weeks, these programs are not merely imparting knowledge; they are propelling individuals and businesses into a future where they don’t merely survive but truly flourish,” said Myers.
Skill Development Programs in Action
A LinkedIn report shows that 94% of employees say they would stay longer at a company if the company invested in their career and offered the ability to grow. Ryan O’Shea, President of Miracon, a B.C.-based homebuilder, enrolled his in-house Project Coordinator, Kelly Pavicic, in Jelly Academy because he wanted to support her growth and invest in her role at the company.
“Kelly was looking to expand her knowledge base when it came to social media and content creation, and I wanted to find a way to support her. That’s when I found Jelly Academy,” said O’Shea.
“Taking the Jelly Academy course really took my skills and abilities to the next level. It gave me the confidence and tools I needed in a digital marketing aspect. I am very grateful to Miracon for letting me participate in this certification program. I find when a company invests in their employees, it’s really a win-win on both sides,” said Pavicic.
This real-world example shows how skill development programs are valuable to small businesses. Through skill development programs, SMEs can contribute to organizational goals and success, reinforce employees’ sense of value, and increase productivity. Development programs can actually raise performance by 25%. With better-trained employees and increases in performance, retainment rates will rise.
Many of these skill development programs work with industry professionals to teach the courses. Raymond Tong, Lead Instructor of BrainStation, said, “At BrainStation, these programs are taught by industry professionals and provide an accelerated learning experience to learn or enhance your digital knowledge.” Courses led by instructors from the industry provide individuals in skill development programs with a deeper and more enriched learning experience.
Amidst a workforce faced with a skills gap, all signs point to skill development programs as the solution. SMEs in Canada face many challenges. We’ve witnessed concerns in retention and recruitment and the vast majority of employees expressing their desire for upskilling. By actively engaging in skill development programs, SMEs can address the growing obstacles of recruitment and retainment and pave the way for sustained growth and innovation in Canada’s ever-evolving digital landscape.
