Boosting Business Value with Streamlined Learning and Development in the Workplace
Employers are trying to attract and retain employees by focusing on new-age technology. Many industries today are facing skill gaps and labor shortages. Retaining and strengthening the workforce is turning a cumbersome job.
Read more: L&D Trends Corporates Need To Lookout For In 2023!
The Shift in Corporate Learning and Development Paradigm
The paradigm shift has hit rock bottom in the way people work, the way customers prefer things, and on a larger picture, the world as a whole. When your organization fails to be digitally ahead, there is a pullback on employee productivity, employee retention, customer satisfaction, and henceforth your business value.
Post-COVID, companies in all spectrums are trying to stay afloat to make spontaneous decisions. But it is time now that companies address their gaps and reach digital maturity through proactive strategic decisions.
How?
Culture, workflow digitization, futuristic technologies, and team collaboration are pivotal in your organization’s automation efforts. Planning is important to determine where your organization lands on a digital maturity model. Then identify changes you can make to achieve the goal of workflow automation, employee empowerment, improved customer experience, and other goals that build your business value.
When an employee learns a new skill, its period of effectiveness is limited, say five years or so. Moreover, there is no assurance that your employees will stick with you for that long. In this digital age, companies must break their function silos, and employees must quit efforts to build linear career paths.
How can a modern workplace like yours pace up with such paradigm shifts?
An always-on, collaborative learning and development experience is the answer! Don’t give your employees a long ladder; ask them to climb to the top all at once. Make them take small progressive steps, give them time to pause and evolve, and guide them in collecting a large cluster of capabilities and experiences on their way up.
The question is: Can you provide a hassle-free, iterative learning experience for supporting a rapidly evolving workforce? While doing so, can you ensure your organization’s agility and digital maturity?
You can if you have an innovative corporate learning platform to assure the delivery of actual employee and business value.
How is Learning & Development Impacting Business Value
Providing your employees the chance to learn and grow makes them feel invested in your organization. In a rapidly evolving skill market, your employees should be given new challenges to push beyond expectations. This will help your employees remain content and interested in their work.
Employees are trying to pace with the rapidly shifting modern workplace through agile and ‘responsive to change’ learning. Therefore, a focus on your organization’s learning and development strategy makes a strong case for its wide-ranging impacts on business values.
Now let us look through a few business areas that can be impacted by effective learning and development!
1. Talent Attraction and Retention
While it is important to follow the traditional learning approach of improving productivity at both the individual and organizational levels, now it has wider impacts on employability. The work landscape has taken a dramatic twist regarding employees staying long-term in one company.
Employees will stay only until they feel valued in the company, feel the value for the role and positively contribute to their career development. You might find employee attraction and retention complex in such a situation. One of the main reasons employees joined your organization is the tremendous opportunities you offer. When the opportunities get exhausted, employees do too!
2. Grow Your People and Their Abilities
The skill market fastly evolves, necessitating employee skill polishing now more than ever. But when you have training and development opportunities, your employees will stay on top of the changes as it happens. When you invest in developing leaders in the workplace through learning, you will see increased ROIs. This will make your organization more likely to achieve performance targets.
4. Build A Value-based Culture
Your organization’s values and morals have been built upon the need to be understood by the employees you recruit. Only a learning and development program can help better communicate and practice company values. Even when your employees are scattered or remotely working or distributed, value-based culture training can help build a sense of community or connection among your employees.
4. Build Your Brand
As already said, fostering a company value-based training is your organization’s ‘mantra’ to build a brand among Gen Y professionals. When it comes to other prospective employees, your brand identity is the first thing they care about, and they will also look into the position you hold in the business landscape. Communicating your company as a brand through L&D training programs can help you improve your organization’s status.
5. Employee Engagement and Motivation
Again, employees need opportunities to stay happy and connected with your organization. For this, make sure you have a proper L&D training strategy. When employees are engaged and motivated, they will give their 100% effort, have more creativity, and focus on innovative approaches.
How L&D Platforms Can Help
Investing in Learning and Development training can harvest great rewards for your company. Just needing one in place is not enough. You also need to have an understanding of the measure to which these changes are impacting your employees and the company as a whole. Measuring just employee satisfaction and completion rates like conventional methods won’t do.
A result-based matrix is also needed to assess the impacts of these changes on employees, their learning engagement, and the impact these changes have on teams and the whole business process. To ensure your organization adopts these business values properly, ensure you have a review framework that checks for strategic alignment, people’s capabilities, organizational health, individual peak performance, etc. What’s better than L&D software to help streamline the entire learning and development process?
Read more: How Significant is L&D for the Future of Work?
How Skill Lake Makes an Apt L&D Platform
Skill Lake is a unified platform for all your learning and development programs in the workplace. When your business expands, training many employees can be painstaking. But with Skill Lake you can achieve this task hands down, maximizing your chances of building a dedicated workforce and unique business value.
Skill Lake offers several benefits that can help your company easily tackle the quickly evolving L&D training programs. Some of them are:
- Driving business growth
- Promoting learning and accountability
- Organizing course materials
- Boosting learner engagement
- Offering continuous learning and growth
The features and benefits of Skill Lake catalyze your business value, improve your ROI and make your company go places through one simple step- Continuously making your employees future-ready! Connect with us now!
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