New age indeed, but not in a Love and Peace type of way, more we value our people and we’ll show you how by investing in them to bring career longevity. Same, same but not quite as Rock n Roll depending on what floats your boat. Either way, it’s a beautiful thing.
Learning and Development has always been a part of the HR function but has it ever been fully utilised? Its relevance in today’s world is of huge importance to company’s and employees alike. Why? A few reasons including the global fight for talent and the economy at large. In simple terms, we need to keep hold of what we’ve got because what we have is great, but we could be even better. With this mindset comes change and a welcomed one. In the past when markets have lost a level of buoyancy budgets are realigned and one of the first cuts made is often training. With the current focus on workforce, re-skilling and up-skilling, training budgets are now on the rise as companies re-evaluate the value and impact. So much so companies are becoming serious about developing their talent, period.
It wasn’t that long ago this level of investment was only for the chosen few, usually at the more senior level. My question is, ‘what happens to talent in other areas of the business?’ We’re advocates of entry level investment, we believe it’s crucial to future growth and retention. Talent is talent and it comes in all different forms, nurture it, as there’s a huge fight going on right now. Today’s entry level talent are tomorrow’s business leaders. Today’s leaders need to hand the baton on to the next level of talent. So why not keep it in the family? Homegrown talent. Bigger picture.
With EQ playing a huge role in today’s market hiring professionals and leaders of organisations are now open to developing what was once known as soft skills in terms of management and leadership styles. Makes sense, as they directly relate to the interacting with the many differing personalities in any one team, in any given company. Creating and discovering nuances that make cultures unique to their brand this unveiling attraction levels, loyalty and employee engagement which is what employees need to know they belong, are valued and empowered.
Companies can’t afford to lose their resources to the competition, the process of replacement hits the pocket too deeply and is multi-faceted. Time, teams, departments, operations, productivity, clients, loss of knowledge and leadership all impacted. The negative is too high a cost plus the initial investment dissolved. That’s why learning and development is now a front runner on the AGM agenda, firmly aligned to business transformation, goals and objectives. Leaders are fully aware of the benefits as they’ve been the recipients for many years! They know it’s a vehicle to continued success, sustainability and retention. According to surveys out there, it’s not all about what you or your employees are paid, even though it’s still up there. The top 5 includes culture, aligned values and environment and inclusion.
By tweaking or for some implementing a learning and development strategy it will facilitate a ROI that’s required to survive in today’s commercial markets, some say up to 22%. That’s definitely worth having.
If you’re not talking:
Are you doing enough to evolve and keep abreast of the competition? If not, what you waiting for?