L&D’s Role Today
Learning and Development departments have become increasingly important to the success of their organizations. Whereas once L&D was an often a neglected and underfunded arm of Human Resources, the L&D function plays a much broader role today as it adapts to meet the changing needs of their organizations. Successful organizations have learned how to design the right L&D strategy.
Professional development for employees is no longer seen as a “nice-to-have” employee benefit. Companies that want to outperform their peers must place a premium on reskilling and upskilling talent to meet ever-changing strategic demands. Why? Because leaders now rely more and more on their intangible assets — knowledge, superior leaders, and highly skilled employees – to succeed.
While each L&D function has a different training strategy, mandate, and scope depending upon how their organization is structured, fundamentally most L&D functions are charged with:
L&D should be a critical service to the people and to the business. When done right, employee development should directly support key people and business priorities, boost your employee value proposition, and align with your cultural values.
4 Factors to Design the Right L&D Strategy for Your Company
Because of the competitive war for talent, people expect to be invested in and developed. Here are four factors to take into consideration if you want to design the right L&D strategy for your organization:
Company, group, and individual training needs assessments should be used to gather powerful data to:— Initiate the change process
To get buy-in for your training budget, the compelling value of your learning strategy and training budget should always be expressed in language your stakeholders use and care about.
For business executives, that means focusing on increasing revenue and margins, reducing costs, improving productivity and capital effectiveness, and delivering on strategic commitments. For employees, that means career development, professional growth, and performance support.
Then make sure that you include the resources and tools to formally measure and reinforce any learning initiatives that are meant to change behavior and performance — otherwise your hard-earned training investments will be wasted.
The Bottom Line
To get the most out of your people, you must make meaningful and ongoing investments in them. Smart companies ensure their current and next generation of employees are set up to succeed. Is your L&D function aligned, engaged, focused, and resourced?
To learn more about setting your L&D function up for success, download The 5 Most Common Training Function Strategies and Key Mistakes to Avoid
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