Boosting Business Value with Streamlined Learning and Development in Workplace

Employers are trying to attract and retain employees by focusing on new-age technology. Many industries today are facing skill gaps and labour shortage. Retaining and strengthening the workforce is turning out to be a cumbersome job.

The general lack of digital maturity is one essential reason why companies are critically looking to improve their learning and development in the workplaces. Research done by Formstack and Mantis Research revealed that only 4% of today’s organizations have achieved a fully digitized and automated workplace. Today, companies need to grow up digitally to avoid inefficient redundant processes that impact their work productivity. And to ensure employees combat with the rising organizational changes,  effective L&D processes are inevitable. 

This blog will take you through the shifts in the corporate Learning and Development paradigm and how L&D training in workplaces impacts business value!

The Shift in Corporate Learning and Development Paradigm 

The paradigm shift has hit the rock bottom in the way people work, the way customers prefer things, and in a larger picture, the world as a whole. When your organization fails to be digitally ahead, there is a pullback on employee productivity, employee retention, customer satisfaction, and henceforth your business value.

Post-COVID, companies in all spectrums are trying to stay afloat to make spontaneous decisions. But it is time now that companies address their gaps and reach digital maturity through proactive strategic decisions. 

How?

Culture, workflow digitization, futuristic technologies, and team collaboration all play pivotal roles in your organization’s automation efforts. Planning is important to determine where your organization lands on a digital maturity model. Then identify changes you can make to achieve the goal of workflow automation, employee empowerment, improved customer experience, and other goals that build your business value.

When an employee learns a new skill, its period of effectiveness is limited, say five years or so. Moreover, there is no assurance that your employees will stick with you for that long. In this digital age, companies have to break their function silos, and the employees must quit efforts to build linear career paths.

How can a modern workplace like yours pace up with such paradigm shifts?

An always-on, collaborative learning and development experience is the answer! Don’t give your employees a long ladder, and ask them to climb to the top all at once. Make them take small progressive steps, give them time to pause and evolve, and guide them in collecting a large cluster of capabilities and experiences on their way up. 

The question is: Can you provide a hassle-free, iterative learning experience for supporting a rapidly evolving workforce? While doing so, can you ensure your organization’s agility and digital maturity?

You can, if you have an innovative corporate learning platform in place that can assure the delivery of actual employee and business value.

How is Learning & Development Impacting Business Value

Providing your employees the chance to learn and grow makes them feel invested in your organization. In a rapidly evolving skill market, your employees should be given new challenges to push beyond expectations. This will help your employees remain content and interested in the work they undertake.

Employees are trying to pace up with the rapidly shifting modern workplace through agile and ‘responsive to change’ kind of learning. Therefore, a focus on the learning and development strategy of your organization makes a strong case for the wide-ranging impacts it has on business values.

Now let us look through a few business areas that can be impact from effective learning and development!

Talent Attraction and Retention

While it is important to follow the traditional learning approach of improving productivity at the both individual and organizational levels, now it has wider impacts on employability. The work landscape has taken a dramatic twist when it comes to employees staying long-term in one company.

Employees will stay only till the time they feel valued in the company, feel the value for the role and positively contribute to their career development. In such a situation, you might find employee attraction and employee retention complex. One of the main reasons employees joined your organization is the tremendous opportunities you offer. When the opportunities get exhausted, employees do too!

Grow Your People and Their Abilities

The skill market fastly evolves, and this has necessitated employee skill polishing now more than ever. Even if an employee has a good personality or strength, without skills he/she can become unimportant. But when you have training and development opportunities, your employees will stay on top of the changes as it happens. When you invest in developing leaders in the workplace through learning, you will see increased ROIs. This will make your organization more likely to achieve performance targets.

Build A Value-based Culture

The values and morals your organization has been built upon the need to be understood by the employees you recruit. Only a learning and development program can help communicate and practice company values better. Even when your employees are scattered or remotely working or distributed, value-based culture training can help in building a sense of community or connection among your employees. 

Build Your Brand

As already said, fostering a company value-based training is your organization’s ‘mantra’ to build a brand among Gen Y professionals. When it comes to other prospective employees, your brand identity is the first thing they care about and they will also look into the position you hold in the business landscape. Communicating your company as a brand through L&D training programs can help you in improving your organization’s status.

Employee Engagement and Motivation 

Again opportunities are what employees need to stay happy and connected with your organization. For this make sure you have a proper L&D training strategy. When employees are engaged and motivated, then they are definite to give their 100% effort, more creativity to their work, and more focus on innovative approaches. 

How L&D Platforms Can Help

Investing in Learning and Development training can harvest great rewards for your company. Just needing one in place is not enough. You also need to have an understanding of the measure to which these changes are impacting your employees and the company as a whole. Measuring just the employee satisfaction and completion rates like the conventional ways won’t do. 

A result-based matrix is also needed to assess the impacts of these changes on employees, their learning engagement, and the impact these changes have on teams and the whole business process. To ensure your organization adopts these business values properly, ensure you have a review framework that checks for strategic alignment, people’s capabilities, organizational health, individual peak performance, and similar such. What’s better than an L&D software to help streamline the entire learning and development process!

How Skill Lake Makes an Apt L&D Platform

Skill Lake is a unified platform for all your learning and development programs in the workplace. When your business expands, training a large number of employees can be painstaking. But with Skill Lake you can achieve this task hands down, maximizing your chances of building a dedicated workforce and unique business value.

Skill Lake offers several benefits that can help your company easily tackle the quickly evolving L&D training programs. Some of them are:

• Driving business growth
• Promoting learning and accountability
• Organizing course materials
• Boosting learner engagement
• Offering continuous learning and growth

The features and benefits of Skill Lake catalyze your business value, improve your ROI and make your company go places through one simple step- Continuously making your employees future ready! Connect with us now!