Learning and Development (L&D) activities are all activities carried out by an organization to support the professional growth of its employees. Training courses, development plans, activities, and online learning are all examples of L&D. One of the primary duties of human resource management, which is often handled by the HR department, is learning and development. Each company may have a different approach to development. Compared to smaller or medium-sized businesses, larger corporate organizations typically choose a completely different strategy. 

There are numerous justifications for why it is so crucial to invest in the personal growth and development of your staff. Teams have the opportunity to expand their knowledge base, increase their job abilities, and strengthen their work culture through learning and development. Even while it can be costly to train your staff in efficient learning and development techniques, the benefits far outweigh the costs. All sorts of businesses can benefit from having employees who undergo learning and development, from enhancing employee engagement to fostering loyalty and staff retention, although the effects are most noticeable in smaller businesses. Giving your employees the chance to grow and acquire new skills can be advantageous for both the business and the employees.

Many would contend that there is never enough employee training and development. It is the employer’s responsibility to stay on top of the game with all the new technology and updated systems. According to the 2021 Monster Job Index, 80% of professionals do not think their current employer provides growth opportunities and 54% of employees fear they don’t have the skills they need to thrive in a workforce that emphasizes collaboration using technology. 

The Threat of Automation

Given that McKinsey predicts that automation will eliminate 800 million jobs by 2030, it is obvious that learning and development activities must change if organizations wish to keep their competitive edge. Organizations are under pressure to differentiate themselves from the competition and step up their efforts to develop the abilities that a computer cannot reproduce because of the threat of automation. We have established that learning and development are crucial for both attracting and keeping top people, as well as for maximizing that potential to boost productivity. Nevertheless, how can L&D be improved to be even more successful in both roles? Strategies that have been widely adopted in the past tend to place a greater emphasis on processes than people, thus solutions must evolve at the same rate as technology. This method of learning and development may have contributed to the widespread misconception that change initiatives fail 70% of the time.

The authors Michael Hammer and James Champy are credited with creating this fictitious statistic in their 1993 book “Reengineering the Corporation.” Researchers were just beginning to pay attention to the notion that personality could predict achievement. Up until the past 20 years, using personality tests during the hiring process was never considered appropriate; this misconception may have caused organizations to suffer a slow growth rate.

More and more organizations are using personality evaluations in the selection and development process because of the realization that personality is predictive of performance and a wonderful tool to upskill personnel. Even though evaluations are always getting better, learning from personal development initiatives is sometimes overlooked or neglected after the intervention. What does that imply? We found three potential outcomes:

• Data does not accurately represent people in a way that allows for learning, and it places people in boxes that conceal some of their hidden talents (and risks)
• The examination is frequently monotonous and forgettable, and at worst, it caricatures the subject, which discourages learning.
• Workshops and coaching sessions may be the extent of learning following the development and selection processes. While crucial to the development process, we also know that opportunities for personal growth frequently arise outside of the confines of the classroom. As a result, for solutions to have a continuous, long-lasting impact, more engagement is required than just what coaching and workshops can provide.

5 Benefits of Investing in Learning and Development

Improved Productivity and Performance

Allowing employees to advance their skills enables them to do their jobs more effectively and transition into new roles with ease. Investing in learning and development opportunities can help employees have a better understanding of their roles and the industry they work in as well as the goals of the company.

Increase in Employee Satisfaction

When you assist your staff in developing their careers, you enable them to feel supported and valued at work, which is likely to increase job satisfaction. Employees are less prone to look for alternative employment, which lowers overall staff turnover in the workplace.

Increased Business Knowledge

The use of learning and development as a learning technique at work can raise workers’ business knowledge, foster a collaborative work environment, and increase their motivation to contribute to the company’s goals.’

Increase Innovation

Your employees can gain knowledge from knowledgeable speakers and network with like-minded individuals in the business by investing in employee training techniques. This may also inspire your staff to come up with fresh suggestions for expanding the company.

Learning and Development Reinforces Business Values

Many businesses stray from their initial business principles as they grow. Any firm should prioritize learning and development since it serves to remind both management and employees of these ideals. By offering customers a chance to express and recognize the company’s beliefs, investing in employee development helps strengthen those values.

Concluding Thoughts

According to a 2018 study by LinkedIn called Workforce Learning Report, 94% of workers said they would remain with a company longer if it supported their professional growth. The study also found that this trend is more relevant among the younger generations. About a quarter of Gen Z and Millennial employees say that learning at work is the thing that makes them the happiest, and more than a quarter (27%) of Gen Z and Millennial employees say that the main reason they would leave their job is that they did not have the chance to learn and grow.

Moreover, it is still relevant, in light of the faded phenomenon dubbed, “The Great Resignation”. This means that learning and development are now a necessity in the workplace rather than just a perk. Since the workplace, as we know it is always evolving, it is understandable that individuals would want to learn and acquire new skills to advance their careers. As evidenced by our most recent global research, many people’s personalities, attitudes, and emotional well-being have changed because of the recent additions of furlough, remote working, and lockdowns. One of the most important changes was a tendency to become more reserved and risk-averse. To help organizations effectively reconnect in the wake of these changes, it is imperative to assist people in becoming more self-aware so they can benefit from the new changes to their style and workplace behaviour. In addition, changes in technology are affecting the required skills and work roles for the future.