Facts to Know About Learning and Development in Business
Learning and development strategy is the strongest pillar that establishes high performance, provides optimum results and success to the company. Millions of organisations worldwide spend a large part of their total business capital to improve skills and performance of their employees. Learning and development also serve as a catalyst to build confidence in employees to face bigger challenges in their career. So implementing a smart learning and development strategy is essential to drive effectiveness.
However, sometimes inadequate budget, project deadlines, unresponsiveness of training department, improper management and lack of initiative restrict from executing learning and development plans. In absence of professional guidance and training, an organisation faces shortcomings such as low employee performance, resources not utilised properly, inconsistency in employee outputs, less employee engagement and low employee retention rate. Employees are the most valuable asset for any business, but as a result of inadequacies, many organisations are unable to implement best practices and often end up receiving low profitability.
Developing a strong learning culture at work is really important and Shannon Pigram, a multi-talented HR executive specialising in business development and learning, talent management and employee engagement can help Australian businesses to reach that level. He has been involved in developing learning and development strategies for the past 14 years. You can get insights on his work by visiting Allihoopa and Aeriagames. Shannon understands that an organisation’s success depends entirely on being proactive with learning and development to increase the productivity of the employees and thus increase the business. Get to know more about Shannon Pigram by reading his biography or visiting Wesrch.
Here are some key considerations for a successful learning and development strategy.
- Strategy should be aligned with business strategy
When planning out learning and development strategy ensure that it is aligned with your overall business strategy. This is important because your organisation’s learning and development needs are unique, for example, your organisation has placed priority on brand marketing strategy then you should integrate marketing courses into your L&D strategy. Subscribe to Shannon’s YouTube channel to get acquainted with the strategy.
- Make L&D a priority
Make your learning and development strategy an organisational priority. As said before that an organisation’s success depends entirely on being proactive about L&D strategy so it is important. A senior officer, for example, a corporate learning officer or training official, should drive its development and granted adequate budget, resources and support. In case, your organisation lacks such people then you can hire an external L&D strategy developer who can help your organisation reach its full potential.
- Conduct an internal assessment
Conducting an internal stakeholder assessment helps identify the various stakeholders and help you understand what they require from your L&D strategy. Pick up the purchase by making them a part of the process. Taking the above example of marketing and branding priority, consult the marketing team to know and incorporate their learning and development needs as well.
- Incorporate the best learning tools
When you are planning out the learning and development strategy for your organisation, consider incorporating the best learning tools. Some of the present best tools for integrative corporate learning include leadership coaching, leadership exercises, guided case study analysis and real-world learning in global business hot-spots.
- Think about the future
As learning and development needs of your organisation and management training tools and resources evolve and change, so should your learning and development strategy. Build your management development objectives and improvement goals into your learning and development strategy.
So, these are some of the facts you need to look into before building learning and development strategy for your organisation.