David Corscadden, MicroCreds Communications Manager, Irish Universities Association

For all SMEs in Ireland, keeping up with changing business needs is a key challenge, especially when it comes to workforce skills and driving innovation. As companies must adapt to new technologies, policies and industry trends, critical skill gaps are emerging faster than ever before. To remain competitive, SMEs need to invest in their employees’ growth and development to stay competitive. The challenge for SMEs however is finding the right upskilling option that suits the needs of both the organisation and the employee.

Why Micro-credentials?

Micro-credentials are short, flexible, skill-focused courses designed to provide practical and immediately actionable skills to learners. Unlike traditional qualifications, micro-credentials are highly focused, making them efficient and effective for SMEs that need to upskill employees in specific topic areas. For example, an SME may not need an employee to have a degree or masters in sustainability but a micro-credential may give them the skills they need to lead the organisation’s sustainability journey.

By developing targeted skills, employees can apply what they learn in the classroom right away, boosting productivity and innovation within the business. This flexibility makes micro-credentials an ideal fit for SMEs, where upskilling time and resources need to be maximised. The World Economic Forum estimates that more than half of all employees will require new skills by 2025 due to automation and changing roles. For SMEs, this means that upskilling employees and adopting a lifelong learning approach can be the difference between staying competitive and falling behind.

Benefits of Lifelong Learning for SMEs

Encouraging a culture of continuous learning with employees has many well-recognised benefits for SMEs:

1. Increased Employee Engagement and Retention: Investing in their professional development through micro-credentials shows employees that the business is committed to their advancement, fostering loyalty and reducing turnover. A recent Deloitte Insights report highlighted that companies with a strong learning and training cultures saw a 30-50% increase in employee engagement and retention.
2. Enhanced Agility and Innovation: Lifelong learning encourages employees to develop problem-solving skills and adapt to new technologies. Adaptability is particularly valuable for SMEs that need to pivot quickly to meet market demands and changing industry trends. Micro-credentials allow SMEs to create a workforce that is agile and capable of driving business innovation.
3. Improved Business Performance: Skills in areas like project management, digital marketing, data analysis, or customer service can lead to immediate improvements in business processes and outcomes. By strategically upskilling in targeted areas, SMEs can enhance efficiency and customer satisfaction, ultimately contributing to growth and profitability.

Overcoming Obstacles To Lifelong Learning

When it comes to SME’s adopting lifelong learning strategies there are two key obstacles that come up: the financial cost of training and finding the correct course for the organisation’s needs.

When it comes to financial supports, earlier this year the Higher Education Authority (HEA) announced funding to subsidise up to 80% of fees across hundreds of micro-credential courses addressing skills in key priority areas, including sustainability, digitalisation and AI. The new HCI Pillar 3 Micro-credential Learner Fee Subsidy is a great opportunity to engage in upskilling this New Year at a reduced rate in leading Irish universities. The subsidies are limited however across selected micro-credentials, so employers and potential learners should investigate their options sooner rather than later.

Once a skills gaps has been identified, the next challenge is finding the correct course that will address the business need. MicroCreds.ie was launched in 2023 to create a one-stop-shop for exploring micro-credentials developed by MicroCreds partner universities. The platform houses hundreds of courses that take just a few hours a week to complete, are either fully online or hybrid, credit-bearing and typically last between five and 12 weeks.

Future-Proof Your Team Now

Investing in employee upskilling through micro-credentials is a strategic decision that can bring long-term rewards. As the Irish economy evolves, businesses that prioritise skills development will be best positioned to respond to change, stay competitive, and to grow.

For SMEs, where every Euro spent counts, micro-credentials offer a high-impact, cost-effective approach to building a capable, future-ready workforce. Empower your employees with the skills they need to contribute to the success of your business by visiting MicroCreds.ie today.

This article was originally published in bISME magazine.