Editor’s Note: Welcome to our newest blog series, Chief Insights by John Blackmon, Trivantis® CTO. Check back every month for more posts from John Blackmon.
Do you ever wonder where your organization stands compared to others? Or if other organizations are doing better with their training programs than you? Kids these days—or those darn millennials, as some might say—call that feeling “FOMO” or “fear of missing out.”
We work with organizations at all different levels, some with highly developed learning programs and others that are just starting out and learning how to align learning with business goals. Many of those organizations ask what other companies are doing and what other business leaders think.
The reports I read paint a clear picture that talent development is top of mind for organizations of all sizes. I wanted to share some research I found interesting.
Each year, the Financial Times and IE Business School team up to survey C-suite executives, HR and learning and development leaders, and senior leaders in Europe, Asia, and the Middle East. The survey revealed that many organizations are still finding their way when it comes to selecting, implementing, and evaluating corporate learning and leadership development programs. However, the majority of senior professionals surveyed in the 2017 Corporate Learning Pulse study firmly believe that these programs can deliver tangible and intangible value to their organization. For example:
- 58% believe that executive education and leadership development are the keys to holding onto their best employees
- 53% agree that investing in their employees via learning and leadership development programs drives change and innovation in their organization
These numbers show the firm belief that successfully focusing on employee development can help organizations meet their business priorities for the year: namely growth, strategy, and sound financial management. In fact, 83% believe that employee development is vital to achieving business goals.
In today’s workplace, the average “shelf life” of skills is five years. Top tier organizations know that they must continually be training their employees to stay ahead of the game. In a LinkedIn Learning Solutions survey of L&D professionals in the US and Canada, 69% revealed that talent was the number one priority in organizations. Perhaps that’s why North America accounts for over half of the global corporate eLearning market share!
Of course, there are many ineffective learning programs out there. As a business leader, you need to demand more than just training courses that check a box.
“Too many training dollars are misspent because they do not address the right skills at the right time. We often apply off-the-shelf information instead of thoughtful knowledge.”
-Todd Dewett, PhD Educator, Professional Speaker, and Top LinkedIn Learning Author
Transformative learning results in a change in understanding, a change in action, and a revision of beliefs. That’s the kind of learning that prevents attrition, increases employee engagement and improves the business bottom line. It’s hard to pull all that off on your own—but you don’t have to do it alone.
Contact Sales@Trivantis.com to learn more about our all-encompassing eLearning solution, Trivantis Complete.