MDA Training

Tag: Commercial Skills Training

  • 5 commercial skills that are crucial to employee development

    5 commercial skills that are crucial to employee development

    Giving your employees the skills they need to positively impact the business, as well as understanding how their behaviour and performance can lead to financial and performance enhancements is becoming increasingly important.

    Employees who are commercially aware add value not only in their own role but company-wide. If there is a combined understanding amongst a workforce of how to engage with individual roles as well as knowledge of how the industry is developing as a whole, productivity will improve. We have compiled a top 5 of what we think are the key skills your team need to succeed.

    Business insight

    Commercial skills training pays attention to the business as a whole and the mission and aims of the business in a commercial context, and how these impact across the company. It explores not just the ‘what we do’ but also the ‘why we do it’.

    Employees who understand the purpose of the business in an ethical sense add value and are more emotionally bought-in.

    Understanding the value of reporting

    How many employees truly understand the reporting you currently use in meetings, management meetings, team briefs or in conference calls? If your workforce has a grasp on the figures, or KPIs being discussed they will have the confidence and insights to help drive performance.

    Training your people with skills, knowledge and insights to better understand where they can add value and achieve organisational goals will deliver real return on investment.

    Financial awareness

    Employees that truly understand the drivers of financial performance in the business can better understand how their role and performance can impact the business financially. Commercial acumen training will explore how their day-to-day activities, positive or negative, related to the business as a whole.

    Competitor awareness

    Commercial skills training focuses on competitor awareness and how this can be used to make sound commercial decisions. Understanding the marketplace means knowing your competition, who they are, what they do and why. An employee that understands the competition can positively impact business performance by adapting their activities or making suggestions about positive change and adaption.

    Perception

    It is vital that employees understand the importance of keeping an eye on the climate of their market sector and competitors, and are able to react accordingly to change.

    Commercial skills training empowers employees to be flexible, knowledgeable and proactive when it comes to moving with current market forces and trends.

    FOR MORE INFORMATION ABOUT THE COMMERCIAL SKILLS TRAINING PROGRAMMES THAT WE PROVIDE, CONTACT MDA TODAY.

  • Recruiting, engaging and retaining talented millennial employees

    Aged roughly between 18 and 33 today, the millennial generation is already playing a key role in organisations worldwide.

    Set to account for 75% of the workforce by 2025, their influence across global business is growing by the decade. So how can you recruit, engage and retain millennials – the first generation of digital natives, and motivate them to have real value?

    Recruiting millennials

    Firstly, recruiting millennials purely focussed on financial incentivisation is not enough. This is a generation that values work-life balance, flexibility, personal fulfilment and fast-paced career progression. In order to recruit the best talent, it will be vital to demonstrate that these elements are available to them. You’ve done this, so what next?

    Engaging millennials with training

    Train them, train them again, train them some more. While millennials are accustomed to ubiquitous information and ‘finding things out for themselves’ – underestimate their need and desire for good training at your peril. Millennials are a generation brought up on the concept of lifelong learning, both socially and educationally. They want to continuously develop themselves on a personal and career level and companies that fail to offer these development opportunities will fail to engage the generation.

    Training millennials

    Traditional training methods won’t cut it though. Millennials don’t want to be spoon fed or told what to do, they need to feel valued and trained in a way that suits them. They have an insatiable need for feedback and ‘proof’ they are “doing good”. They want to understand first how the training benefits them and how it will have a positive impact on their life. Millennials consider personal and career fulfilment as one and the same so ensure any training can be rationalised by them both personally and career-wise.

    Retaining millennials within your organisation

    Millennials are a transient generation, happy to shift from one organisation to another if their needs are not met. Unlike the generations that have gone before them, millennials have no problem dealing with change and will move on should a better option present itself. An organisation where training and development are geared toward the millennial mindset, in bite-sized chunks and focussed on experience, will see higher retention and engagement levels amongst this generation.

    FOR BESPOKE WORKPLACE TRAINING SOLUTIONS THAT ENGAGE AND RETAIN YOUR MILLENNIAL EMPLOYEES, CONTACT MDA TODAY.

  • Why commercial skills training is essential to the success of your business

    Large or small, business is about making money, no matter what is chosen to be done with it. Invested, distributed to shareholders, used for social projects or philanthropy – making money is at the root of all businesses.

    It is for this reason that strong commercial skills are embedded throughout; from the ground up, a team with a knowledge of commercial acumen will add value and increase the growth of any business or organisation.

    Commercial skills training to enhance growth

    Undoubtedly commercial skills can be learned and enhanced through experience, but underpinning experience with robust commercial skills training will only act to further enhance growth potential.

    Commercial skills training promotes good judgement and decision making through a sound understanding of the marketplace within which a business operates.

    A workforce that understands the marketplace in which they exist are better at spotting opportunities, driving out waste and increasing efficiency.

    Having a commercial mindset

    Feeding the ‘business brain’ as part of a commercial skills training programme nurtures a sense of responsibility as well as an understanding of the outside forces that can affect the goals of the business; be it political or economic, at a global, regional or local level.

    This commercial mindset throughout an organisation makes for a better team ethic and impacts morale at every level, increasing the bottom line through increased productivity.

    Aside from the financial aspect, commercial skills training focuses too on the mission and aims of the business and how these impact company-wide in a commercial context, exploring not just the ‘what we do’ but also the ‘why we do it’.

    Understanding the purpose of the business in an ethical sense adds value and emotional buy-in. Commercial skills training gets to the very heart of a business and what makes it tick.

    Commercial skills training enhances communication both internally and externally and makes the workforce able to talk with confidence about the organisation and sector within which they work.

    The ability to fully understand and communicate the marketplace means employees are able to spot trends and flex and adapt accordingly to these.

    Making commercial decisions

    Understanding the marketplace means knowing your competition too. Knowing who they are, what they do and why they do it.

    Commercial skills training focuses on competitor awareness and how this can be used to make sound commercial decisions based on what they are doing and how it might impact on the business.

    A workforce that understands the competition can better add value on a day-to-day basis through changing behaviour or process to positively impact financial performance.

    FOR MORE INFORMATION ABOUT THE COMMERCIAL SKILLS PROGRAMMES WE PROVIDE, CONTACT MDA TRAINING TODAY.

  • Developing commercial awareness and improving commercial skills

    Commercial awareness is the buzzword of the modern day recruiter and HR professional.

    Many employers regularly cite it as essential to the employability of a candidate, but all too often candidates have no idea how to demonstrate their commercial awareness.

    So if employees can’t demonstrate it, how can you recognise it? And once you have recognised it, how do you hone those skills in your workforce? To understand commercial acumen you must first understand what commercial awareness is…

    So, what is commercial awareness?

    “Commercial awareness is the ability to understand what makes a business or organisation successful, through either buying or selling products or supplying services to a market.”

    This simple definition might summarise commercial awareness but in reality, the concept encompasses a wide range of skills and understanding, most obviously an understanding of the business staff are working in and its market or sector.

    Equally, it is necessary to recognise that commercial awareness and commercial skills are not just important for those working, or wanting to work, in the commercial or business sector.

    Everyone from those working in journalism, the arts or for charities need to be able to demonstrate that they are commercially aware – in short, staff need to be able to demonstrate that they are good value for money to their employers.

    What commercial skills should you be looking out for?

    Many people come undone when it comes to demonstrating their commercial awareness. While they might understand the premise, they’re not sure how to ensure employers know they do. Below are the key things to look for in commercially aware employees:

    Communication

    It is important that employees can communicate confidently with colleagues at all levels and, moreover, they can speak with confidence about the business in which they work, the business sector they are in and their target market.

    Being perceptive

    -Employees who keep a firm eye on the climate of their market and react accordingly are invaluable. It is key to have employees who are flexible, knowledgeable and proactive when it comes to moving with current trends.

    Know the competition

     Another part of being commercially aware is knowing what competitors are doing so that employees can offer up suggestions accordingly, be that subtle changes to current activity or deciding to go head to head.

    Prioritise 

    Marrying up priorities between staff your business will go a long way and demonstrates that employees understand fully the goals of the business and are dedicated to helping to reach them.  

    Financial awareness 

    Understanding the drivers of financial performance in the business and more importantly understanding how an employee can drive performance in their day-to-day activities.

    Developing commercial skills

    Above are just a few core examples of the types of commercial skills that are key to businesses in every sector. If you’re reading this and are struggling to think of any employees who regularly demonstrate these skills, or can see that these skills need to be developed in your staff,

    there are a few things you can do. Simple ways to develop commercial skills include encouraging staff to read and follow relevant sector-specific news and publications, equally encouraging staff to regularly brush up on key basic skills such as numeracy can really help when it comes to relaying sales projections and growth figures.

    If you want to go one step further we can help to develop the personal commercial skills of your people in their genuine work environment, covering everything from effective business writing, pitching and negotiation through to risk management. 

    FOR BESPOKE WORKPLACE TRAINING COURSES THAT DEVELOP THE COMMERCIAL SKILLS OF YOUR EMPLOYEES, CONTACT MDA TODAY.

  • The benefits of hiring more graduates to your business

    With the majority of UK graduates being forced into employment that does not require their talents, isn’t time to start thinking about why you’re not hiring them?

    Research has reported that 58.8% of UK graduates have ended up in non-graduate roles – a figure exceeded only by Greece and Estonia. There are many benefits of including graduates into your workforce and we’ve listed, what we believe, are the most important:

    Tech-Savvy

    Graduates today have grown up surrounded by technology. This would then suggest, that their ability to adapt to new systems and software would require minimal supervision. They are always interested in the ‘next big thing’ to enter the world of technology, which could prove beneficial to help businesses to grow and progress.

    Enthusiastic

    Once exams are finished, the dissertation is done and dusted and the final year is complete, graduates cannot wait to leave the student lifestyle behind them and enter the working world. This poses an added benefit to businesses as graduates are eager to get stuck in and want to impress.

    Business Skills

    Although new graduates will have little experience of working within a business, their university life will have enabled them to develop invaluable transferable skills such as written and oral communication, presentation, organisation and data analysis. These attributes are vital to carrying out professional business roles within the workplace.

    Flexible

    Graduates entering their first role are eager to impress, and they will go above and beyond the call of duty to do so, which will include, when required, being flexible to the type of task they must complete or the time in which they do so. They won’t have preconceived work habits or practices and will happily and efficiently fit into workplace culture and operating hours.

    Looking to hire graduates but need some help with training? With 25 years’ experience of designing and delivering bespoke graduate induction programmes for a wide range of organisations, at MDA Training we know how to create programmes that will really engage with your graduates and give them flexibility in the way they learn.

    FOR MORE INFORMATION ABOUT THE GRADUATE TRAINING PROGRAMMES WE PROVIDE, CONTACT MDA TODAY.

  • Spotting workplace leadership qualities in current employees

    Not all employees are born leaders, however, it is possible to learn how to be a more effective leader. It can be said that the best leaders display certain qualities that enable them to strive for success.

    Confidence

    The role of a leader requires confidence when deadlines are looming, or things aren’t going entirely to plan, a leader must maintain team morale. They should ensure that all team members have a positive attitude and inspire confidence in others. A leader that demonstrates confidence towards proposed goals and objectives inspires the best efforts from team members.

    Commitment

    Great leaders will be the most committed, hard-working members of the team, they should lead by example inspiring others to follow suit, seeing senior members of staff working alongside their colleagues will give employees motivation to work to the same standard. It is also important for team morale to show commitment to promises made, staff incentives should be followed through, leaders should create a reputation that gains respect from their employees.

    Decisiveness

    It is of the utmost importance that all leaders have the ability to make tough decisions. They should understand that in certain situations, difficult decisions must be made efficiently and they must be made in the best interests of the entire organisation. Leaders should understand that the decision they make might not please the entire team, but it is the best decision for the success of the business.

    Delegation

    Although it is important to take control of a team, it is also crucial to hand over responsibility to other members. Learning to trust team members to complete tasks and goals is critical for a business to progress. Good leaders recognise that delegation does more than simply alleviate their own stress levels. Delegation shows that leaders have the confidence within their employee’s abilities, which will aid workplace morale, employees will feel appreciated and will, in turn, be more productive and loyal to the business.

    Do you see these qualities in members of your staff? Need help to develop them? We have extensive experience in leadership and management development, operating at all levels from first line managers to CEOs.

    FOR MORE INFORMATION ON THE BESPOKE WORKPLACE LEADERSHIP TRAINING PROGRAMMES WE PROVIDE, CONTACT MDA TODAY.

  • Measuring the success of commercial skills training

    Training within a business is an action taken to improve performance and ultimately increase profitability.

    To ensure that the training undertaken is effective, it must be measured and evaluated. Measuring the success of training will enable organisations to understand which methods of training are most effective, as well as allow them to improve the design of training and justify the costs incurred. Training measurements include:

    Individual Objectives

    Before the commencement of training, programme objectives should be set. However, measurement needs to go deeper and drill down to the individual’s learning journey reflecting their development goals and their learning from the training.

    High-level commercial training objectives could include:

    • Increasing customer retention
    • Reducing customer complaints
    • Increasing overall revenue
    • Improving customer experience

    Depending on the need that is driving the training, more detailed objectives should be developed that form the basis of a purposeful evaluation of the extent to which each learning event has delivered workplace improvements that feed into the broader commercial context.  

    It is important to make objectives SMART!

    SMART objectives are Specific, Measurable, Attainable, Realistic and Timely. If objectives cannot be measured and monitored, it is likely that employees will find them unachievable.

    Employee Reaction

    It is important to gain insight into the thoughts and opinions of employees following their training programmes as this will enable employers to see what aspects they found beneficial and areas in which they found difficult. These results will help employers identify where some employees may struggle and aid the structure for future training and development programmes.

    An effective way to study employee reaction is the use of an after training survey. It is important to keep the survey simple and to the point. Surveys are also most effective when used immediately after the completion of a training programme, this will ensure employees give a fresh, detailed review.

    Acquisition of Knowledge

    To form an understanding of how much an employee has learned it might be useful to implement an end of training examination. This will be reflective of how much knowledge has been retained from employees which will help determine which employees may need further training in the future.

    It is crucial that all training programmes are measured appropriately not only for employee development but also for company-specific objectives. Whether it is leadership, management or team development you are looking for, our approach is grounded in proven principles, practices and methodologies, pulled from various disciplines, but all with a practical and commercial application to the workplace. 

    FOR BESPOKE COMMERCIAL SKILLS TRAINING PROGRAMMES, CONTACT MDA TODAY.

  • Why your business needs commercial skills training

    Commercial skills training can cover a wide range of qualities, from financial to interpersonal skills, and by-and-large will vary from role to role, and by each organisation.

    Do you want to drive change, and ultimately drive value in your business? Then there are two questions you must ask yourself as a leader;

    • Does every member of my organisation understand their role in the business?
    • Is every member of the workforce equipped with the commercial skills they need to be effective, and empowered, in their role?

    We all want our team members to think and act more commercially, and these are just a few reasons why you might want to consider planning a programme of commercial skills training for your company:

    To encourage and sustain positive behaviour you have seen

    You may have seen an employee demonstrate strong commercial acumen by offering analysis on a trading pattern, or perhaps they have identified ways to minimise costs in a particular area to improve profit margins, without being asked? You can look to encourage this more commercial behaviour across the entire workforce, to help drive positive change across the entire business.

    To ensure your workforce feels empowered

    People that understand their role within the business, and can see how they can affect change and influence the ‘bottom line’ feel empowered and motivated.

    Empowered people take ownership of their role and are more engaged at work, ultimately helping to move the organisation forward as a participant, not just as a passenger.

    To drive a change of approach

    If you are looking to change the focus of your business, and get your teams to change their approach within it – commercial training can contribute to this process. With focused training, new ways of working can be instilled across an entire workforce and be used transformatively.

    To improve the use of reporting

    How many employees truly understand the reporting you currently use in meetings, for weekly conference calls, daily team briefs or management meetings? If your workforce doesn’t truly grasp the figures, or Key Performance Indicators being discussed they will lack the confidence and insights to help drive performance.

    Experiential training, fully immersed in your commercial context and management information will support your people with skills, knowledge and insights to better understand where they can add value and achieve organisational goals.

    To increase employee well-being

    Many employers do not consider that employee wellbeing is an important part of leadership, however, studies have shown that employees that feel valued, empowered, and work in a supportive atmosphere tend to be more productive.

    The right commercial skills training can be used to improve employee wellbeing by helping people understand where they fit in the bigger picture and how their day-to-day duties actually make a difference to the business’ performance. Such an approach can help reduce absenteeism and improve productivity.

    FOR MORE INFORMATION ABOUT THE BESPOKE COMMERCIAL SKILLS TRAINING PROGRAMMES WE PROVIDE, CONTACT MDA TODAY.