The middle market, which is made up of mid-sized organisations, is the unsung hero of the British economy. Businesses in this category (typically ranging from 700 – 5000 employees) have grown from the SMB stage but aren’t quite considered to be large enterprises.

Despite individual successes, the middle market experienced a rocky finish to 2023, marred with wider economic challenges. Yet, it remains resilient, optimistic and a key player in Britain’s future growth. But for these businesses to flourish, it’s critical that their employees, and their HR teams, have the right support and resources to excel.

Whatever its size, each business has its unique set of HR challenges. Talent teams of mid-sized organisations are under pressure to replicate the learning and employee experiences of large enterprises, but with less resources and budget.

This is where having the right technology can make a huge difference. However, some organisations continue to fall into the trap of acquiring various bolt-on platforms that are incompatible with each other. Needless to say, this isn’t economically viable and doesn’t create a good employee experience. A positive experience starts with a unified approach and ultimately there are three fundamental HR areas mid-market organisations should tackle.

 

1. Supercharging growth through content

Employees don’t want to work through lengthy e-learning courses or workshops anymore; they want a hybrid model and tailored, short form content. So, how can HR or L&D professionals facilitate this? By making decisions informed by data.

Data allows HR teams to make intelligent decisions on how to curate and build content so that it best supports their workforce. For example, aspirational leaders in the retail sector will require different skills and training versus those in the legal sector.

AI backed learning technology can automatically curate relevant learning modules and collections in the employee’s preferred format. And, with reporting and analytics, less time is spent tracking learning progress, and more time focusing on the tasks that require their expertise.

 

2. Putting skills into the spotlight

Tailored learning is crucial because of the impact it has on skills. Today, every organisation is thinking about how they can track workforce skills and the skills needed for the future.

This is where solutions like a ‘skills ontology’ can help. This is a set of unique skills with defined connections or relationships, with other skills or entities like job roles. A skills ontology allows you to benchmark and assess skills, close gaps, empower development, and enable strategic skills deployment.

 

3. Building an agile workforce

Employees certainly want visibility into internal mobility. A new Cornerstone study ‘2023 talent mobility study, EMEA edition’  reveals that 73% of people want to know about internal opportunities. Moreover, if mobility is the outcome of learning and development, and if employees are consuming relevant content and developing the right skills, the next step is to ensure that they’re aligned with the right role.

For example, say one organisation experiences rapid growth but is struggling to make the best decisions around breaking into new markets and hiring talent as a result. By implementing an internal gig economy, where employees are offered three-month temporary stints, a holistic employee culture is created that can lead to better organisational decision-making.

 

The future of mid-market HR

For mid-sized organisations seeking continuous growth, having the right technology is crucial, but mastering HR and Learning fundamentals is what will foster a positive, ever-evolving workplace culture. Leveraging engaging content that tracks progress ensures an aligned employee and business development pipeline. Beyond content curation, spotlighting skills is essential for organisations to remain current.

Fostering an agile workforce should be a priority – encouraging employees to strengthen core responsibilities while enabling versatility across departments – improves decision-making and engagement. With these fundamentals in place, mid-market businesses can equip their HR teams to cultivate an engaged, skilled and future-ready workforce primed for success.

 

Luke Hicks 

Regional Sales Director, UK Mid-Market & Africa at Cornerstone