Every organisation strives for success – what makes a thriving workforce different from the rest is a competent and highly skilled group of employees who collectively work towards an established goal with the drive and motivation to improve themselves constantly. So how does an organisation consistently ensure that its employees remain productive and highly engaged? Unsurprisingly, one of the ways to do so would be to invest in Learning and Development (L&D) that leads to a high Return-on-Investment (ROI).
In this article, we discuss the importance of employee development and how it greatly benefits both the organisation and its workforce.
Meet the needs of a constantly-changing environment
With a constantly-changing environment, even more so for the past two years, organisations find themselves having to evolve and navigate to remain competitive. According to the World Economic Forum, the skills that a person possess will become half as valuable in five years. And this has further accelerated in the post-pandemic world.
To keep your workforce up-to-date, organisations need to consider a strategy that helps their employees stay relevant to the market needs in an agile manner. One of the ways is to segregate what changes are temporary vs permanent and what would be the focus for new types of work. That enables the organisation to balance between upcoming trends vs ongoing business needs.
Keeping employees engaged and satisfied
87% of millennials say that professional development or career growth opportunities are very important to them in a job. And 94% of employees say they would stay at a company longer if it invested in their career development.
Yet, in another study, only 29% of employees are very satisfied with their current career advancement opportunities available in the organisation they work for.
Organisations need to bridge the gap and balance what their employees expect versus how to do it sustainably to keep employees motivated and satisfied. A possible solution to consider is to create learning communities where employees can get to learn from their peers and, at the same time, share their expertise to help their peers as well.
Holistic understanding of the business
In a large organisation made up of different departments, it can be usual for employees to work just within their teams in siloes. This poses a challenge for senior leaders as they constantly seek ways to help their people see the big picture, break down siloes and work in synergies to achieve the bigger vision and goals.
By developing the workforce through cross-divisional interactions, employees get the opportunity to interact with other members of the organisation and learn better about what they do and how each of their functions ladders up to the bigger purpose. Setting up learning communities breaks down such barriers as employees become more intentional about their learnings and have easy access to other team members without the rigidity of typical corporate structures. Learning communities also act as a melting pot where employees can collaborate, cross-pollinate ideas, spark innovation, and turn ideas to life.
Developing your employees goes hand-in-hand with the company’s success. While training employees comes at an investment, what is the true cost that goes behind staff turnover whenever someone leaves?
Cahoot Learning has the best learning management system and we develop engaging learning communities for organisations. We design a Cohort-based learning model that consists of our great blended learning, hybrid learning, and collaborative learning programmes.