This is Why Employee Learning and Development is the Key to Growth

Whether your organization is big or small, growth is most likely your biggest priority. Simply having an appetite for growth is not enough. Everyone wants their business to succeed, but there is a difference between growing and growing in an efficient, effective and sustainable way. There are tonnes of ways to scale up what you are currently doing in your business. Still, learning and development can play a vital role in growth which can keep going year after year.

What is learning and development?

Learning and development, also known as training and development, is the goal of aligning your employees to the goals and performance of the organization’s. Those who are responsible for conducting learning and development within your organization should be able to readily identify skill gaps within employees and teams which need to be developed, and then deliver training in order to fill those gaps. 

Normally, learning and development teams are led by an L&D manager who is then responsible for developing and establishing these learning strategies. In the modern workplace, these duties will include a large range of responsibilities, including evaluating the organization, maintaining the learning and development programs, optimizing them, and more. 

Your learning and development manager and team is vital to ensuring that your employees are able to successfully rise to the challenges of their jobs, while at the same time staying in alignment with the business vision and goals of the organization. 

Why is learning and development so important for growth?

Now that we have established the basic framework of what learning and development is about, here is why L&D is so important for organizations now and in the future. 

Employees Need Opportunities to Learn

About 87% of millennials say that learning and development in the workplace is important, while 59% of millennial employees say that being able to access opportunities to learn and grow is an extremely important factor when they are deciding whether to apply for a new job. 

This is important because by 2025 millennials will make up more than 50% of the US workforce. And by 2030, 75% of the US workforce will be made up of millennials. In order to be in the running to recruit top talent, companies will need to be able to offer their potential employees a commitment to their professional development. 

Onboarding is More Expensive Than Employee Retention

It can be difficult to perceive the costs of employee turnover, but we all understand that losing productive employees is not good. In fact, 1 in 4 employees will leave their jobs and nearly 77% of this turnover could have been prevented by employers. 

However, regardless of the dollar value, retaining your top performing employees is much more cost-effective than the costs that are associated with separation, recruitment and the hit to productivity and overall bottom line. 93% of employees express they would stay longer within an organization that invests in their development. 

This means that companies can help retain their employees by investing in learning and development. L&D will not only increase employee productivity, but it can be incredibly important when it comes to boosting employee confidence and trust in their employer. 

The Benefits of Upskilling and Reskilling

With a constantly changing world comes a new importance on professional development which will need to constantly be pursued and prioritized. Employers will play a huge role in supporting their employees’ acquiring new skills. 54% of respondents to a recent survey agreed that upskilling or reskilling is a joint responsibility of both the business and the employee. These are some reasons why employee training and development is important:

Greater Employee Retention

As we mentioned above, L&D is important for the retention of top talent. Including development programs in employment contracts can help establish an employee’s sense of value within the company, thus fostering higher levels of loyalty and commitment, and ultimately increasing staff retention. Investing in professional development for your teams will not only be vital for retention, but many employees have reported worldwide that there is an increasing appetite for upskilling now than ever before. 

Train Future Leaders

Gaining new leadership talent can begin from new hires, or your human resources professionals can also select current employees as candidates for managerial candidates. Implementing leadership development programs within your organization can ensure that you are always considering future organizational goals and succession planning by being prepared to promote talent from within. 

Increased Engagement in the Workplace

Conducting regular development initiatives will keep your employees motivated while undergoing frequent training programs will also allow you to keep tabs on your current employees’ skills and processes. Assessing current skills and abilities within your teams will allow managers to strategically plan and target development programs that address any potential skill gaps. 

A commitment to continuous learning in your workplace sets you apart as a desirable place that employees are able to grow not only professionally, but as individuals. And this is invaluable for your growth as a business. 

Level Up Your Team With 1Huddle

1Huddle can help you and your team stay ahead of the learning curve. We offer cloud-based employee gamification software. You can customize your content for a seamless experience and all of your employees will be able to access their training anywhere, anytime, and at the push of a button. You can use our game platform to measure their performance and make key decisions on where you should take your gamification strategy next. 

Do you want to learn more about how 1Huddle can help you level up your own workforce? Talk to us today.