While bigger businesses can learn a lot from the creativity and agility of startups, there is equally as much on offer to an individual within an established company.
Larger organizations that have been operating for a long time already have other tried and tested processes and policies in place and have built up a great deal of knowledge and expertise about their industry. While a fail-fast culture nurtures new ideas, some practices, such as data governance, need to follow more stringent frameworks when it comes to managing data assets and its initial usability for development.
Often, startups don’t have such a rich knowledge of data governance, whereas larger organizations will have dedicated people or even teams in place responsible for ensuring high-quality data is fed through to those actioning it. Failing to work in this way could be to the detriment of startups, particularly at a time when the ideas of trust and ethics are growing in importance and poor data governance could be the downfall of an organization.
Businesses looking to attract future talent by creating more engaging and creative cultures must also consider providing the right training to nurture the skills of their existing workforce in order to not lose out to the startup appeal. In the last few years, we have seen technology democratize education which is something businesses should take advantage of to upskill their workers.
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