How to maximise a company's investment in the learning and development space

Sanjay Bahl

Getting things done. These three words sound simple but is the mantra for leaders all around the globe. But creating robust and effective business strategies has become exceedingly challenging in today’s VUCA world - Volatility, Uncertainty, Complexity and Ambiguity.

Any successful company depends primarily on its employees to take forth its vision. The undisputed role of Learning & Development (L&D) in this direction is well established. According to a recent study, 94 percent of employees would stay longer in a company which invests in their career development.

So, how can an organization maximise the investment that it puts in the L&D and growth of their employees to enhance business outcomes? Here are few viewpoints to consider.

Make L&D skill oriented: There will always be newer and more exciting ways to impart learning and while it augurs well for the future market, volatility and uncertainties are the new norms. Therefore, organisations must strive to leverage the skills of employees in a way that works best for them. As the saying goes-Aces in their places. Work must be put on their core competencies. An average mind can come up with above average skills provided he has the right platform. Here, smart technological advances are arriving at a pertinent time for L&D heads to mix and match technology-enabled blended learning methodologies to transform the L&D.

Focus on implementation: Even the smartest of L&D methods will come to a naught if they are not implemented well. One must ensure that the L&D partner organization chosen should have consistency in service delivery. Choosing an L&D partner who not only has the content, but also the depth of experience to back it up. When implemented right, smart learning platforms can accelerate the L&D process of the entire organisation. According to one study, nearly half of respondents (40 percent) also saw at least a 10 percent increase in profits after carrying out an effective learning strategy.

Employees as stakeholders in L&D process: Employees have started to take ownership of their learning needs. But they need the support, resources, tools and easy access to e-learning platforms. Learning that is customised to their needs, diagnostic tools, a feedback system and self-competency assessment methods to gauge their aptitude towards their current or future role is needed. This gives them clarity regarding their personal development and a better understanding of their personal values vis-a-vis the mission of the organisation.

Identify their L&D needs: In order to enable employees to operate at their optimum performance levels and meet business objectives, an effective approach is required to identify and prioritise L&D strategy of the entire organisation and not just a select few. To attract and retain talent, employers should be erudite enough to establish a learning culture in their organisations.

Personalise their L&D needs through technology: Creating a personalised learning plan for each employee and rewarding those who make their growth and development a part of their career progression is a crucial part in creating a robust L&D strategy. This will keep them motivated and develop a culture of learning and development throughout the organisation. It also gives them a sense of ownership.

Analysing L&D strategies from a value-for-money perspective can help maximise the return on investment. There are a number of areas where costs can be contained and/or additional value can be achieved through strategic L&D interventions. But it is imperative that L&D heads should leverage smart technologies that provide a  secure, flexible, and scalable solution for the continuous corporate training needs of an organisation.

The writer is MD & CEO, Centum Learning