At any company, further developing employees is the key to any business's overall success and growth. The recruitment and onboarding process to find a qualified candidate is a long process. Employers focus much of their energy on the beginning stages, and once that's completed, the engagement halts. The business world has evolved over the last few years. Research has shown that developing current employees through an enriched learning and development program can increase profits and improve employee retention.
What is Learning and Development?
Learning and development is a term often used in businesses to describe a process that focuses on enhancing current employees' skills, competencies, and knowledge that helps improve their performance in the workplace. Learning focuses on teaching employees new skills, while development helps deepen the knowledge of existing ones.
Learning and development are often interchanged with upskilling and reskilling. Over the years, learning and development have shown to be a vital program and business strategy to create a highly-skilled workplace, improve the business's performance, and retain top talent that is happier and more driven.
The Benefits of Learning and Development
Professional development is consistently proving to be incredibly beneficial for businesses of any size. Providing employees with an opportunity to learn new skills and develop current skills is valuable to sustain and improve growth in current employees and the business. Here are a few of the ways encouraging learning and development is beneficial.
Employee Empowerment and Improved Morale – Employees who feel they are valued through learning and development programs often have a greater sense of autonomy and confidence in their work. This leads to increased job performance and a boost in motivation and productivity, increasing job satisfaction and morale.
Reduced Employee Turnover – Retention is a challenge for many workplaces. When employers offer learning and development, employees are more likely to feel valued in a way that fosters loyalty and improves the chances they will stay longer. Continuous learning and development save valuable time and money that is put into the hiring and onboarding process while encouraging a workforce to learn new skills that can boost a company's performance.
Businesses Can Keep Up with Changing Industries – Industries continue to evolve, and keeping up with the changing policies, procedures, and regulations is essential. New technologies and methods are constantly being introduced, and not learning more could lead to a business falling behind. Employers need to upskill their workforce consistently to adopt the latest technologies to ensure they stay ahead of the competition in developing processes and products.
Attract More Highly Skilled Talent – Brand reputation has a way of spreading. A rich learning and development program where a business focuses on developing current employees can bring in top talent. People looking for jobs are often searching for companies that are willing to help them learn and develop further in their careers.
More Opportunities for Internal Promotions and Developing Future Leaders – When higher-level positions become available, filling them with an employee that has been focusing on developing the skills is a cost-effective solution that requires less training than hiring an outside hire. Promoting from within brings in a familiar person with the goals and work culture and can fill the role quickly.
Methods that Provide Learning and Development
Learning and development of employees are much more than sitting them down in a classroom and having a professor or instructor go over a topic. It involves a variety of engaging programs that an employee will have the opportunity to participate in or attend. These programs and methods cover a wide variety that businesses can offer, such as:
Instructor-Led Virtual or Classroom Training – Employees can access virtual training from any device anywhere in the world. This allows employees more opportunities and options for class types and more flexibility to fit any schedule.
Projects – Assigning projects to develop learning along with a selected mentor can help guide them in learning new skills while preparing them for how to organize and complete a project from start to finish.
Lectures and Webinars – There are business lectures and seminars related to the business employees can attend, or an employer can invite speakers to help motivate and teach.
Job Shadowing – One of the most engaging and enriching opportunities an employee can have is working with another employee who already has the skill or position they want to learn.
Mentorship – Enabling your employees to choose a mentor to help an employee learn a role and skills associated with consistent engagement is valuable and a strategic way to develop the workforce.
Coaching – Coaching involves upper management following and observing employees and offering feedback on how they can improve in constructive ways.
Training Sessions – Introducing training sessions or a series of training is a flexible way to schedule employees to learn new content and skills together in the office or host a virtual training session.
Businesses need to continuously encourage and accommodate learning and development to ensure employees' development is effective. Supporting a culture of constant development keeps businesses relevant and able to quickly identify industry changes and easily overcome challenges that can arise.
An employee is the most valuable asset of a business and focusing on learning and development should be at the forefront of any business strategy. The benefits of a great learning and development plan can spread through the company by empowering confident leaders who, in turn, influence and inspire employees. Employees will feel overall happier in the workplace, which leads to employees feeling loyal and connected to your business.
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