There is no end to learning. In this era of competition and advancement, if you have to keep moving ahead, you have to learn new skill sets as and when required. Of course, one can skip these processes, but then again how will you step out of your well?
The learning and development process (L&D) is a rich practice to ensure new skill sets and respective opportunities for the employees. In the corporate world, the L&D process falls under HR responsibilities, but one can also learn from his/her colleagues, through brainstorming sessions, etc. There are L&D departments in many colleges too. Let us see how learning and development help in scaling up.
Pros Of The Learning And Development Process
- Through the L&D process, any particular firm gets to know about its weaknesses. It also helps in discovering loopholes in the company/firm. We get to know which employee is facing trouble in any particular area & then we can teach that particular employee. Besides wasting time on every employee, we can target the weak employees and can give them more concentrated learning. The rest of the employees can be taught some new skill sets.
- Interaction and communication among the employees and managers increase through the L&D process. This increases employee satisfaction and loyalty. Good office culture is formed where people help each other to scale up.
- Through training, employees get to more about their job and company. This results in increased productivity and financial profits.
- When employees are trained and equipped with proper skill sets. They come up with new and innovative ideas that help in increased innovation.
- According to LinkedIn, the most required skill set among employees is blockchain in 2020. This trending technique can be taught to the employees so that they are able to do diverse jobs.
- A firm can identify its future needs and can train its employees in the present. This will help in moving ahead of others and the job can be with more accuracy if we have a prerequisite.
Key Insights Into The L&D Process
According to LinkedIn surveys, 82% of L&D experts say their employees actively support and are happy about the L&D process and training conducted at the workplace. The survey also tells us that the budget for the L&D process has increased from 27% in 2017to 43% in 2019. Firms and companies have identified the importance of learning and development and are taking it pretty seriously as the stats suggest.
LinkedIn surveys tell us that 87% of team leaders are confident that their team size will either the same or will increase at the end of a financial year. This tells us that the learning and development process increases customer satisfaction.
Employees are satisfied with their jobs and team leaders in those workplaces where the L&D process is taken seriously. The learning process can be done through different substrates, like E-mail marketing and online programs. There is no such traditional rule to be followed, the managers can embed new skills in their employees through any medium in which they feel confident.
There are many processes that fall under the L&D process like reskilling and upskilling. Brushing up of skills is required every now and then. There is a little bit difference between Learning and Development, learning is the process of absorbing information through concentrated training or programs whereas the development process focuses on personality and skill set of any particular employee and tries to find out the weaknesses and strengths and the areas which need more focus. Filling skill gaps within the workplace is done through the L&D process.
The surveys and reports tell us that soft skills are also required as much as hard skills. The demand for these skills in employees keeps on changing as per the market behavior. The L&D process helps employees in upskilling and adapting to new advancements. This article was all about the profits of the L&D process. I hope it helps!
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