We’re far from the days when a job was only about the pay. Employees today seek purpose, fulfilment, growth, and new challenges in their professional lives. That is why learning and development (L&D) opportunities play a critical role in nurturing employee satisfaction & engagement.
In this post, we will explore the impact of learning and development opportunities on employee motivation, discuss why it is so important to them, and why forward-thinking organizations should not overlook L&D in their people strategies.
Training, learning, or development?
While training, learning, and development are often used interchangeably, these concepts refer to different aspects of employee education when it comes to their scope and objectives. While training is typically task-oriented and aimed at specific job requirements, learning encompasses a broader range of knowledge acquisition. Development, on the other hand, puts focus on long-term career growth and advancement. In this blog post, we’re going beyond training for specific job functions & focus on learning and development.
Why having L&D opportunities at work is important?
Advancing their career
Learning and development opportunities help employees acquire new skills and knowledge, which can enhance their performance and make them more eligible for promotions or new opportunities within the organization.
Personal growth
Many people have a natural desire to grow and improve. Developing various skills not only benefits their professional life but also contributes to their personal fulfilment.
Job satisfaction
If an employee feels unchallenged in their role, it can lead to boredom and decreased engagement and job satisfaction. Offering opportunities for learning and development can help to keep employees motivated.
Retention and loyalty
Employees who feel supported in their growth are more likely to stay with the company long-term. People do appreciate the investment of financial and time resources to help them improve – it demonstrates that employees are valued, which, in turn, fosters loyalty.
Getting used to change
The workplace is an ever-evolving place, where employees need to continuously adapt to newness - new technologies, processes, and trends. Helping them learn helps employees stay adaptable in the face of change.
Talking numbers
93% of workers express their willingness to remain with a company for an extended period if the company prioritizes investing in their professional growth and development.
Investing in employee training and learning helps their productivity. Companies that spend $1,500 or more per employee on L&D opportunities, annually report 24% bigger profit than companies with smaller L&D budgets.
More than half of millennials say that development opportunities are key when deciding to apply to a new position.
Employees that have means to learn and develop are 15% more engaged compared to those who do not have this opportunity.
Companies that offer development opportunities have around 30% higher retention rates.
Which skills do employees look to improve?
The skills that employees want to improve most can vary depending on their industry, role, career stage, and personal aspirations. However, there are some common skills that employees often seek to develop beyond industry-specific knowledge.
Technical proficiency. It’s valued across many industries in this digital era, so no surprise that employees seek to improve their skills in programming, data analysis, digital marketing, or working with specific software.
Professional development. Many of us aspire to advance our careers and take on greater responsibilities. That is why employees often seek opportunities to develop skills related to project management, strategic planning, decision-making and time management to enhance their readiness for leadership roles.
Personal growth. Professional growth cannot be separated from personal growth. Employees often have individual challenges that they’d like to overcome to grow personally. Some examples include skills like public speaking, networking, financial literacy, mindfulness, and so many more.
Soft skills. People skills are increasingly recognized as essential for professional success. Interestingly, businesses tend to put soft skills over hard skills when it comes to employee learning and development. Among the soft skills, the most important tend to be leadership, communication, collaboration, and time management. From employees’ perspective, mastering these skills can improve their effectiveness in collaborating with colleagues, managing relationships, and navigating complex work environments.
L&D programs
We could write a separate blog post about creating an L&D programme at your workplace. However, today we’d like to answer a common question of controlled vs. personalized L&D. Is it better to create a comprehensive plan or simply allow employees a learning budget, where they can choose what is relevant for them?
While the answer depends on the organisation's size, industry, and many more factors, we’d say the mix of the two is a good idea. There will be skills and competencies that are crucial for achieving your organization’s strategic objectives or skill gaps that must be filled – these skills should be included in every employee’s L&D plan.
However, it is important to allow some freedom through a learning budget to make sure you don’t overlook the importance of individuality. Employees should be able to decide what helps their personal growth, which skills they need to develop the most, and, as much as importantly, what way of learning fits them. With a learning budget, employees can personalise the L&D experience.
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In the dynamic modern workplace, one thing definitely remains constant - employees are the heart of any organization. By prioritizing opportunities for learning and development, you not only equip your team with the skills and knowledge needed to excel in their roles but also cultivate a culture of continuous improvement, innovation, and engagement.
As employees expand their skill sets, unlock their potential, and pursue their career aspirations, they become more fulfilled, motivated, and committed to the organization's success. The ripple effects of this investment are felt throughout the organization, from increased productivity and performance to higher levels of employee satisfaction, retention, and loyalty.
