The past decade has seen a drastic evolution in the global workforce due to various factors. The current mix of employees is a result of the digital revolution, rising complexity of running a business, and stiff competition in business. Every business owner will agree to the fact that the current workforce is vastly multigenerational and knowledge is only relevant for a limited period of time. The only way to stay afloat with such a persistently uncertain business scene is to continually invest in skilled manpower, exceptional leadership, and knowledge.
For maximum returns from training programs at the workplace, it is essential that L&D leaders install an ambitious vision for the investment made. Here are the main benefits to look out for;
Attract and Retain Top Talent
A few decades ago, the main aim of training workers was to improve their productivity. Since the modern employee is no longer keen on spending their entire work life with a single employer, learning is leaning more towards employability. The current employment model rewards employees that have value to add to an enterprise while dropping those who become redundant. Have you ever wondered why employees will ask about “opportunities for learning and development” at an interview? They are in tune with their need to grow and gauge employers based on what they add to their professional and personal life journeys.
Develop Employee Capabilities
The value of a business is only as great as the human capital invested into it. The problem is that knowledge is easily forgotten and often becomes outdated with new technology. A company that is willing to invest value into the current and next generation of its leaders is surely going to perform better than the competition. Mores, statistics indicate that leaders who have been trained in preparation for transformation within the business are likely to hit their targets by up to 2.4 times.
Cultivate a Culture of Value
It is normal for modern teams to be globally dispersed and virtual, a trend that is rapidly increasing. By developing a strong L&D department, a sense of community can be created within such teams. As a matter of fact, millennials are particularly attracted to organizations that have a solid and defined culture.
Define a Brand
Investments in L&D can be a great boost to enhancing an organization’s brand as well as boosting its reputation among job seekers. This is best done through efforts by the employer to communicate brand vitality through adoption of an employer value proposition.
Employee Engagement and Motivation
If you are looking for ways to completely engage your employees, consider providing them with opportunities to develop new competencies. It is a well-known fact of human development that lifelong learning plays a huge role in influencing happiness. When engaged employees are faced with work-related challenges, they will invoke skills acquired at work to deliver on their mandate.
Over time, the concept of L&D should be explored at a brand level to come up with dimensions that produce results. While the implementation might differ to a large extent, the process must always start with setting aspirations and end with measuring impact.
Looking to explore L&D opportunities within your organization? Contact us to discuss solutions to meet your goals.