The Foundations of an Effective L&D Corporate Culture
Companies that want to permanently close the digital skills gap can no longer approach talent development one-on-one. All too frequently, we see businesses handle upskilling requirements as they happen, such as by enrolling project managers in Agile training when development projects are behind schedule or by providing digital marketers with training when their SEO strategy is failing. A more strategic approach is needed, one that supports a corporate learning culture. This ad-hoc strategy will never move your corporation ahead of the technology curve. In that regard, the following elements can act as the foundation for developing a successful learning culture inside your company.
What You Stand to Benefit
It’s not simple to build that bridge to close the skills gap in today’s competitive job market. According to the National Federation of Independent Business, 60 percent of employers have job openings that remain unfilled for more than a month, costing them $800,000 a year in lost productivity and advertising costs, while 45 percent of small businesses were unable to fill positions with qualified candidates. Furthermore, because many professional skills have a short half-life (between 2.5 and 5 years), recruiting new staff will eventually be irrelevant if skills retraining isn’t done on a regular basis.
According to a Deloitte analysis, businesses that foster employee learning and development (L&D) through a strong learning culture are 58 percent more prepared to meet future demand, 92 percent more likely to innovate, and 46 percent more likely to be first to market. Companies with adequately trained digital and technology professionals are more quality-conscious and better positioned to ensure that customers always receive what they want. Innovation is essential for keeping your products and services at the top of your target market’s mind in a competitive market.
Display to staff a viable career path
Your employees must be on board from the beginning if you want to create a successful corporate learning culture. The best approach to do that is to show them the value of an organised learning path that results in higher overall career performance, not just the worth of the particular tech skills that enable them complete daily tasks. There is a growing need in particular for professionals who can implement plans that cover the entirety of company processes.
Engage students in learning
When they already have so much on their plates, few employees want to spend their time sitting in all-day classes. The solution is to give employees access to an online e-learning platform with a variety of flexible learning alternatives, including self-paced video eLearning and interactive online classrooms. This “blended learning” strategy allows students to learn in stages without having to take entire days off from their regular workload. It also gives students more control over their learning experience and improves their engagement with the material.
Increased employee satisfaction is a result of continuous learning.
Retaining contented and well-trained personnel is crucial to the long-term success of your business. According to a recent Fortune article, 87 percent of employers think increasing retention is a top priority for their business. Unfortunately, one in five workers today believe their professional abilities are outdated, which can severely affect their motivation to stay on the job and raise the likelihood that they would search elsewhere for better opportunities. The excitement of creating a long-term career path keeps workers engaged in the culture of learning that is being built.