28 May 2018

LEARNING AND DEVELOPMENT: WHAT’S IN IT FOR CORPORATE TRAINING?

Let’s face it, the world is a completely different place now than it was 10 years ago. People have become more reliant on technology and, businesses are able to glean actionable insights from data collected, no matter the industry. The Learning and Development function is just like any other business process; it must evolve as employees and organizations mature, change and grow.

To stay current in today’s constantly shifting and uncompromising environment, learning is a key driver for many organizations to maintain their competitive edge. The growth in corporate spend for training services grew in 2015 at approximately 6.25 percent, as compared to the estimated growth in GDP. This means companies are more willing to spend for training as a percentage of revenue. This trend has been escalating over the last five years.
Most businesses don’t place a huge emphasis on employee training – that’s a fact. It’s time for that to change, especially as one in three employees say that uninspiring training content is a barrier to their learning and can influence them to leave their company for new opportunities. Businesses must adapt to the demands of the 21st-century employee by incorporating new technologies into their corporate training programs.

Today, companies can access insights and intelligence about a learner from workforce and HR analytics and drive corporate learning initiatives. Along the x-axis of technology empowerment, we are seeing many companies turn away from traditional LMS’s and opting for easier, more flexible, and powerful, cloud-based LMSs, like Litmos. In some cases individual departments are taking ownership of their training by going rogue: Buying their own cloud-based LMS, despite the company having one of the larger more unmanageable legacy systems. Turbo-charging the training department with a tool like Litmos gives you the ability to automate much of your existing administrative work, continue to use current methods and models, but also enjoy the power of a platform being built for the future.

The need for training continues to grow, and the current training design/development processes struggle to keep up. So many organizations, departments, teams, and individuals are taking matters into their own hands. Waiting for the L&D department, or training department to get the resources to fund your need is no longer an option. It’s much easier to simply do the training yourself. It’s easier than ever for individuals to share their knowledge and teach others what they know. We see it all over websites like Youtube. Everyone has something they can teach others. And today, the technology exists to empower those motivated enough to just do it. The democratization of learning is a major disruptor and this type of workplace learning culture will begin to grow as the next generation moves into these jobs.

 

 

Article by: Busayo Tomoh

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