Businesses are investing more in the intangible
The terms ‘Growth’ & ‘Productivity’ are evolving and there is a new future that businesses have to come onboard with in order to remain relevant in the current market.
The future of growth and productivity we are talking about refers to investing more into the intangibles of every business such as in staff training, talent management or even market research. This is true for companies in all industries.
Instead of only spending on the tangibles such as equipment, buildings & machinery, there is an increasing awareness on the importance of investing in intangibles. Businesses from the financial sector to manufacturing, f&b and retail companies, are now moving in this direction.
Covid-19 has amplified this effect further due to the newfound importance of making use of the intangibles to continue the life of the business. Research, moving the business onto digital platforms, upskilling workers to be digital-savvy and even establishing new channels to make your product or service accessible online, are factors that drove sales for businesses during the pandemic.
An example of investing in these intangibles in the F&B industry is in training staff to take orders using online platforms during the pandemic.
Why are businesses moving in this direction?
Investment in intangibles have proven to drive productivity and growth for businesses, allowing them to perform better than competitors and increase company revenue. (Read more: How employers can support their Lower Wage Workers)
Benefits of investing more in staff training includes unlocking hidden potentials, developing staff skills, increasing staff retention and hence, lowering turnover rates. As staff are the backbone of every business, it is essential that they are equipped with the necessary knowledge and skills to carry out their jobs well.
Whilst investing in the intangibles is the way to go, there is a system that exists out there that makes it possible for you to train your new hires and existing staff effectively while saving time and costs.
The system is ArcLab.
ArcLab provides a cost-effective solution that could overcome language barriers, ensure there is standardisation in training content across different business outlets and enables HR managers, L&D teams as well as trainers to track their staff’s learning progress.
So who uses ArcLab?
ArcLab is helping companies in sectors such as F&B, Retail, Construction, Voluntary Welfare Organisations etc., and are looking to help more companies with blue-collar workers train their staff. We work with HR managers, L&D teams and trainers to deliver training easily without needing plenty of resources and time. Training that can be done anytime, anywhere and in any language.
ArcLab introduces the use of nano learning modules which break down chunky training content into bite-sized information to improve the retention rate of the information delivered in your staffs’ mind. This results in an improvement in their job performance and satisfaction levels.
We help employees get up to speed quickly and we help employers save precious training time.
How else do people use ArcLab?
ArcLab modules are flexible in use and the only limit is your imagination. Fei Siong Group’s L&D team implements ArcLab modules to deliver timely and standardised training with minimal disruptions to their workflow and even crafted in employee’s native languages.
Meanwhile 4Fingers (Singapore & Malaysia) uses ArcLab for operational manuals, SOPs and mobile training which allows employees to access them anytime and anywhere. This reduces the time that is wasted on going through stacks of training manuals and maintains consistency in standard operating procedures especially for businesses with various outlets.
As a result, Fei Siong group has achieved up to 50% savings in training time. 4Fingers (Singapore & Malaysia) has managed to save 27hrs in training for each learner each month. (Fill the form below to read more in our eBook)
Other uses for ArcLab include digitalising training and standard operating procedures (SOPs) such as for construction industries and industries who have to work remotely due to the Covid-19 restrictions. We work with companies like Woh Hup, a construction company with workers who speak in different languages, to deliver training to foreign workers in their native language.
Train your staff on body language for customer service, customer service excellence or even use ArcLab to improve employee mental health.
ArcLab can help businesses achieve their maximum potential and increase productivity by 50% just like Fei Siong Group. Businesses such as your favourite food establishments, Swensen’s, Astons, Koufu, BreadTalk Group and more can achieve greater heights with a trained workforce.