The battle to retain top talent is set to continue in 2022. Constant digital disruptions and growing business complexities have altered today’s workforce. Unpredictability and emerging technologies have increased the emphasis on continuous skills development.
According to a McKinsey study, attrition is set to accelerate, as people are willing to quit their jobs without another one lined up. Hiring for skills, the study claims, is one approach to bring in the right personnel while also ensuring that the staff remains competitive.
But there is more to that. Even the best talent needs upskilling. Hiring new talent is not enough; you must continuously hone their skills.
If employees are not given appropriate learning opportunities and scope for professional development, they are likely to leave the organization. That’s where continuous learning and development (L&D) has a significant role to play in a company’s talent pool.
It’s important that we consider how a learning management system (LMS) can support continuous development across the employee lifecycle. After all, L&D teams have a huge responsibility to ensure that workers have access to the growth opportunities they should have during their tenure.
What Is Continuous L&D?
Continuous L&D is the process of constantly improving one’s skills and knowledge. It might be personal (lifelong learning) or professional (training programs, career development, social learning and so on).
Professional development should be a continuous process in which you seek new knowledge, answers, and abilities to enhance and improve your productivity. Continuous L&D strategies, when done well, can breed talent that is continuously developing, rethinking and formulating new methods to improve the organization.
On the other hand, a sluggish learning culture can have serious consequences for an organization’s growth and success.
What Are the Goals of Continuous L&D?
Depending on the outcomes desired, each organization establishes its own goals and objectives for continuous L&D. However, there are some common objectives, such as:
- Acquiring and honing new talents.
- Increasing professional expertise.
- Adapting to the changing workplace culture.
What Are the Key Areas of Focus?
One’s approach to continuous learning throughout the employee lifecycle should be adapted to the peculiarities of the organization, its business demands and strategic goals. Even though there are several areas to focus on, the key ones are:
This is a “bootcamp” for new employees to assist them to assimilate into their new workplace more quickly. They gain the skills, information and habits required to be productive as soon as possible through onboarding.
A training professional or human resources (HR) manager manager normally prepares the program, which covers broad themes such as the company’s history and corporate culture, basic policies, health and safety requirements and other information that every employee should be aware of. This type of training is applicable to all jobs and departments throughout the organization.
Depending on the employment position or department, such a program may occur frequently, although not necessarily on a regular basis. Training on products, services and new skills and motivational training can all be included in the program.
This type of training might assist a corporation in expanding its human resource base. Employees who are the most successful are frequently identified as candidates for advancement and can be allocated to managerial training. Topics could range from product knowledge to leadership abilities such as motivating and delegating, providing feedback and managing teams.
Why Is Continuous Learning Important?
Continuous staff training can help your company in a lot of ways, such as:
Increased Productivity and Performance
Ongoing training enables employees to have a better understanding of their roles and responsibilities. They harness positive outcomes through continuous learning. It allows employees to operate more productively on a daily basis, throughout the entirety of their tenure at the organization. It also allows employees to respond more promptly to consumer needs and meet future market demands more successfully.
A Competitive Advantage
Employees can keep themselves updated on industry changes by regularly obtaining new knowledge and growing abilities. Competent employees that keep up with evolving industry standards will help your organization stay ahead of the competition.
Employee training necessitates some investment; but if it is focused on the company’s commercial objectives, it can yield quick results in the form of a high return on investment (ROI). The original expenditure can be repaid through greater employee performance and revenue growth.
A Lower Employee Attrition Rate
Employee retention improves when companies support continuous training and development. Training is an effective method to keep high-performing employees, especially for companies that are always looking for new talent. Many employees will not work for organizations that do not provide opportunities for learning and advancement.
Increased Consumer Loyalty
When well trained, productive and engaged employees interact with consumers, they can become your most ardent brand champions. They understand how to present a product and are animated when dealing with the audience. This enhances the client experience and boosts customer loyalty.
To learn how to create a LMS strategy that supports learning across all phases of the employee lifecycle, stay tuned for the second article of this two-part series.