Microcredentials - a solution to the skills shortage

There’s a lot of talk in both the education and business sector at the moment about ‘microcredentials’.

Microcredentials is basically a fancy way of saying “short learning courses" and they are exploding right now – they’re offered through most universities and TAFEs right across Australia and, in fact, most learning institutions globally.

Big learning in small bites

The idea behind these short courses is multifaceted – basically it acknowledges that younger people entering careers may have several in their lifetime and need to continually maintain a strong and relevant qualifications base.

They also acknowledge that in today’s fast-paced business environment it doesn't hurt to upskill from time-to-time. Most importantly they recognise that most of us are pretty time-poor and don’t have the time to commit to an MBA, or the equivalent. Therefore, these are designed to be completed in the short-term and they’re flexible.

Lifelong learning – without the time commitment and expense

I like them because they encourage lifelong learning – whether you’re a seasoned professional in your chosen career, a newbie embarking on your career, or someone entering the workforce after some time out, microcredentials can allow you to gain a recognisable qualification in a short period of time.

But I also like them because they could offer a very real solution to the talent shortage we’re facing right now. It is widely acknowledged that finding and keeping the right people is tough.

Recruitment and retention benefits

So, could these courses mean that you can be a bit more flexible when it comes to employment? Say, for example you have a solid candidate with a great aptitude but not quite the right skill set …can work to close that “skills gap” pretty quickly with some microcredentials?

It’s worth finding out.

Further, for small businesses, microcredentials might be a good way to retain talent. Certainly, it’s always a risky decision to invest in an employee’s education, because you never know if you’ll benefit from that investment over the long-term. Here’s an alternative – because they can be completed very quickly, employees can swiftly begin to implement what they learn, and microcredentials themselves are relatively inexpensive.

Courses are pretty tailored so they can actually help you to support employees – particularly those who have continuing professional development (CPD) quotas to reach every year – in ways that benefit both of them, and the business.

Key learning blocks

These courses are also “stackable” … that is they can build on each other, and they’re also designed to provide credits towards a ‘bigger’ qualification, such as a university degree. They are not just “isolated” bits of knowledge that come with a certificate barely worth the paper it’s written on.

Small Business owners need to think creatively about remuneration, especially when the business environment is unstable and there's a need to keep an eye on overheads, because it is in these times like these that people, particularly key personnel, can be the key to your business stability. Plus, as I’ve said before – when you invest in your people, you garner loyalty.

Certainly that’s been my experience.

Fast learning and fast implementation for a fast-paced world

Microcredentials have become really important in fast-paced areas such as the IT and digital space, for obvious reasons, but they’re an excellent tool for more traditional industries too, because they can, over time, actually help employees to carve out a career path, or pivot within their current career path, without wasting the skills and talents they already have.

This could benefit your business too – if you are able to move someone into an area they’re more interested in, or even create a role suited to their particular interest and career aspirations as you grow. Have a look, see what you think, and feel free to leave me a comment.

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