In 2018 alone, the global spend on L&D was around $366.2B. But sadly, companies aren’t seeing much training ROI. Here’s why:
Why Training is Failing
Training isn’t just a nice-to-have in your organization. It’s an absolutely vital part of a company’s long-term investment and growth strategy. It hones existing skills, helps build new ones, and enhances overall performance at work. The reality is that most training efforts aren’t working because they weren’t thought through. But it’s also because of these three key reasons:
Everyone is learning the same thing, the same way
Let’s face it, the one-size-fits-all method just isn’t going to cut it anymore. When everyone is expected to learn something with little alignment to their needs and job roles, the harder it is for them to see results and improvement. And in the long run, this affects business outcomes.
The solution: As a manager, think about your team members’ careers and help them develop professionally. Personalized coaching and curated content is the way to go.
Training isn’t delivered at the right time
As easier as it is to organize training in schedules, busy adults who are always on-the-go meeting deadlines and finishing tasks won’t be as motivated to learn that way compared to learning at their own pace.
The solution: Go for ‘pull’ learning. The best time for training is when the learner really has a strong desire and need to learn.
In it for the stats and scores, not the skills
You may find that many of your employees are answering activities, spending time learning, and getting high scores. While this may measure engagement, it doesn’t necessarily equate to success.
The solution: Look at these metrics instead: skills attainment, workplace application, behavioral change, and confidence. The development of these and many more soft skills are the very measurement of learning success, not numbers or figures.
The future of your company’s L&D starts now
“The biggest push is for L&D professionals to create programs and services that help their organizations execute on future strategies. That requires playing at a higher level, as the stakes are higher for L&D executives now.” – Tracy Duberman, President and CEO of the Leadership Development Group
HR leaders have to be more than able to cope with how organizations are changing and evolving. And that means solidifying a long term plan to reskill and upskill employees as time goes. So, now that you know the common challenges there are in creating training programs that work, now is the time to start shaping your company’s L&D.