In tough economic times, business decisions are increasingly made based on the numbers. Investments and expenditures. Overhead. Potential earnings. Mitigating risk.

Under pressure to do more with less, it’s sometimes easy for leaders to forget that employees are also making long-range decisions based on numbers. Certainly, living expenses versus income. But also tenure of employment versus professional advancement. And outsized company expectations versus company investment in support to meet those expectations.

There is a common ground between these numbers and needs. By placing learning and development (L&D) opportunities at the core of growth strategies — for both the organization and its workforce — companies create an environment that spurs innovation and engagement, drives productivity and profitability and helps employees feel more capable, respected and ready for meeting future challenges.

Establish a Learning Culture

If the future of work is defined by change, employees need the right resources to ensure they can learn faster than the pace of change. In this learning economy we’ve entered, it’s critical that L&D is recognized as a driver of a company’s ability to outpace change and gain the competitive edge. And that edge lies in human capital.

A Pew Research survey found that 63% of workers left their jobs because they felt there were no opportunities to advance, and LinkedIn reported that three of the top five reasons people leave their jobs are related to career growth and skill development.

Employers would appear to be committed to addressing these expectations: 80% do not plan to reduce their L&D budgets in 2023. That sounds promising, but it’s not enough to go strictly by those numbers.

What percentage of employees will directly benefit from those L&D funds? Of those, what percentage are from underrepresented groups? How many employees were asked to provide input on the L&D experiences they need and/or want? And what percentage of L&D participants are given opportunities for ongoing learning?

Cultivating a positive employee experience includes shaping a culture that recognizes the value of continuous learning for everyone, and the role of employees in defining that journey. That requires defined processes and infrastructure, transparency from senior leaders, and equitable access to development opportunities that close capability gaps while also meeting the broadest scope of employee needs.

The 4 H’s of Dynamic L&D Programs

One thing employees need? To not feel like they are ill-equipped to handle new responsibilities or expectations in the context of continuous change. That’s why the approach to your L&D program needs to embrace opportunities to make it as dynamic as the marketplace employees are facing. One way to ensure this is to practice the “Four H’s”:

• Hands-on. For employees on the verge of burnout, L&D might seem like another “to-do” unrelated to their daily responsibilities. Even the most motivated learners retain learning better when it’s put to the test through practice. Experiential learning can be incorporated into the daily workflow so it not only reinforces concepts by demonstrating real-life applicability, but also helps address an immediate organizational challenge. That benefits the company in real time, while boosting that employee’s sense of accomplishment and professional visibility.
• High-tech. The practical use cases for artificial intelligence (AI) are growing exponentially, and L&D is not an exception. In fact, AI has already proven useful in personalizing development experiences, analyzing participant progress, creating content and scaling to meet growing demand. Incorporating AI into L&D programs creates efficiencies that enable more strategic and creative planning. AI also offers interactive, engaging, customizable ways to maximize potential for the largest number of employees possible.
• Human. My organization has found that L&D experiences paired with coaching create a formula for effective leadership development. An agile organization fosters leaders at all levels, so this is not just about pipeline or succession planning. Coaching helps reinforce and support learning experiences through personal feedback and creative exchange.
• Holistic. As access to training continues to expand, employee expectations have also expanded. Online. On demand. And accommodating to how different people learn best: microlearning, multimedia, multilingual, etc. A sustainable learning culture is an exchange that provides employers with well-prepared, highly satisfied workers while providing employees with L&D experiences that are convenient, comfortable and cater to how they learn best.

Measure Employee Impact

Beyond evaluation forms or surveys, how do you know if you’re hitting the mark? Particularly in the face of economic uncertainty, it’s important to be able to speak to L&D return on investment (ROI) — not just in terms of benefits to the employer, but also its effect on the employee experience.

Many L&D professionals assume they don’t have the data they need. Often, they do, but may lack a framework to organize the numbers and communicate their relevance to other decision-makers in the company.

As someone who is both a chief decision-maker and heavily invested in the business of employee development, I’ve found that L&D helps drive measurable impact in the following key business areas:

• Retention: Mitigates the negative impact employee turnover has on company finances and morale. Employees who feel supported and secure in their value to the organization are more likely to stay.
• Productivity: Improves engagement to motivate employees to go above and beyond for their organizations. Employees who are confident in their abilities will perform to the best of their abilities when they feel appreciated.
• Goal achievement: Equips leaders with the skills they need to better achieve organizational goals. Employees who understand how their efforts roll up to the organization’s objectives feel more engaged and invested in sharing that success.

The role of L&D in the modern employee experience may be driven by numbers. It may be influenced to adopt new attitudes or approaches to learning. But at its core, it hasn’t changed.

It’s about forging relationships. Between providers and participants. Between employers and employees. And, most importantly, between employees and their full potential.