Currently, all the leading organizations in the world spend a good amount of money on the learning and development (L&D) of their employees. And not just the industry leaders, even medium and small organizations all around the world train and develop employees and shell out a part of their budget for it. Is there something these organizations understand that others don’t? Why is learning and development essential for every modern organization regardless of its size?
Well, apart from the fact that L&D expands the knowledge and skill base of the employees in an organization, providing a competitive advantage over other organizations, there are a number of other reasons you should be investing in L&D by implementing a platform like EdApp. In this article, we’ll discuss those reasons.
- Replacing or Hiring New Employees Costs Much More Than L&D
If your employees believe they are not receiving and L&D/training that will help them increase their knowledge or skills, there is a very good chance they’ll leave your organization for one which provides them with L&D. Also, if you do not enhance the skills of your present employees, you’ll have to hire new ones with the skillset you’re looking for. Replacing and/or hiring new employees is way costlier than training them to handle more job responsibilities.
- Improving with Time is Crucial
We’re on the verge of a big transition as technology is increasingly becoming an essential part of how organizations do business. In order for employees to adapt to using this new technology, they need to be trained. Without an L&D program, employees wouldn’t know what to do with new technology, which will harm your business big time.
- L&D Improves Job Performance
Which organization doesn’t want their employees to perform better at their job? L&D provides employees with a better understanding of their job role and responsibilities, while inculcating the necessary soft skills in them to handle customers, clients, seniors as well as peers. More competent employees accelerate the efficiency and growth of an organization.
- L&D Satisfies Employees
As mentioned before, modern employees want that they should develop and improve their skills while working in an organization. Without an L&D program, this can be difficult, which leads to dissatisfaction among employees who feel they’re wasting their time in a job that adds no value to their knowledge and skills. L&D increases knowledge and skills of employees, in addition to helping them understand that their organization values them, which leads to increased satisfaction and morale.
- L&D Removes Weaknesses
Every employee has certain weaknesses related to performing their job duties. If they’re not addressed, those weaknesses will always hinder employees from giving their best. L&D addresses and removes those weaknesses.
- L&D Provides Consistent Improvement
In this rapidly changing, dynamic world you cannot just make do with the same level of skills, experience and knowledge that you have. Consistent improvement is important, as relevant skills and knowledge change. L&D helps learners/employees update their skill and knowledge base on a continuous basis, so that they can keep up with the rapidly changing business world.
- L&D Increases Productivity
Knowing what to do and how to do it correctly isn’t enough. If performing one task correctly takes an employee more time than it should, it lowers the productivity of the whole organization. L&D trains employees to be more productive in lesser time, increasing the speed at which they perform tasks.
- L&D Boosts Company’s Reputation
A fully functional and effective L&D program is a feather in an organization’s hat. They can boast of their L&D program, which also attracts prospective recruits who’d want to work at an organization that can help improve their skills and knowledge if and when they work there.
- L&D Increases Innovation and Creativity
Productivity and performance are important, but the modern world requires innovation and creativity as well. L&D regularly provides learners with relevant skills that are required in the market, and this continuous upskilling inculcates in them the innovation and creativity required to grow the organization by leaps and bounds.
- L&D Engages Employees
All work and no play makes Jack a dull boy. You wouldn’t want your employees to be dull now, would you? If all your employees do at the office or field is work, they’ll be mighty bored, and boredom leads to non-productivity. L&D provides your employees with a break from your duties, and with engaging modern learning strategies like microlearning and gamification, a fun and engaging way to learn and develop skills and knowledge.
There is simply no excuse not to have an efficient and modern L&D program in your organization in this time and age. If you do not want to be rendered obsolete, it is high time you build a proper L&D program for your employees if you haven’t already. If you have, make sure it adheres to the standards of global L&D to the best of your abilities and resources.