Today’s customer, client or consumer comes with the expectation of bigger and better things each year. There’s a good chance that your initial 5-year business plan has had to become far more reactive than you first thought.
With the increase in expectation comes the excitement of business expansion, and a rapidly growing workforce with new skills in tow. Whilst sourcing and hiring the right talent for your business growth is one part of the story, often training, people development and talent management gets something short of an afterthought.
Whilst you may be thinking "I've just hired skilled, experienced candidates. They're already trained" it's remiss of you to not consider the bigger picture – even if your business is becoming more dynamic and reactive. Here are our 3 reasons why the development of your workforce should be part of your business strategy.
1: Candidate attraction
Take for example the shortage of candidates with STEM skills, if you’re one of the businesses after a piece of that relatively small talent pool – the chances are the talent you’re connecting with have four other opportunities on the table, so you’ll need to offer them more than just an attractive salary package.
Introducing a robust and comprehensive learning and development package demonstrating to the candidate ‘we will invest in you and your skills’ will show that you mean business.
Tip: Don’t wait until you strike a conversation with talent to communicate your L&D offering. Embed your people development offering in your EVP (Employee Value Proposition) and Employer Branding online as a form of Candidate Attraction.
Bonus Tip: When you get the learning and development spot on, you’ll find that your employee advocacy does some of the work for you. Take a look at your Glassdoor and Indeed reviews online – are potential candidates seeing what you offer with regards to development?
2: Drive the continual performance of the business
We believe in people, not data points. Take a look at any successful business and you’ll see the common denominator is the belief they have in their people. Set each member of your workforce on the path to success by aligning your business and learning strategies.
A clear development roadmap for your employees will show the career journey ahead of them and the valuable part they play in building your business.
Tip: Build this into your resource planning and make sure it’s continually actioned through any performance development and talent reviews (PDR).
3: Employee engagement = Employee retention
The worry some businesses have with investing in learning and development is the worry that ‘what if we train them and they leave?' whilst this is a valid concern and one that the business should consider fully the opposite question could be asked ‘what if you don't train them and they stay?' the key point being, underdeveloped staff, could cost you just as much as losing staff.
THAT being said if you get the development plans for your staff right, there's a greater chance that it will have a positive impact on employee engagement along with your staff retention and attrition rates.
Tip: There is more to learning and development than allocating budget for your workforce to use on training, you need to implement a strategy aligned to the business goals. What skills and capability will you need in 1, 2 or 3 years' time? Can you upskill your current workforce towards this capability, if so, now is the time to set plans in motion!
What is a managed learning service and why could it be right for you?
You may have noticed that we offer training solutions and we're also transparently honest. So we don’t believe that you’re naïve enough to not have spotted that the above is designed to get you to think seriously about strategic workforce planning, and mapping this to your long-term business goals.
That's where we (a managed learning service) come in. We can take all the guess work and strain out of putting all of the above into action – better yet we're also experts in resourcing solutions which mean we truly believe in the end to end process of the candidate experience and employee lifecycle enabling us to provide true talent blended people solutions.
We can work in partnership with you to provide a managed learning solution for your workforce; enlisting internal and external subject matter experts to breathe life into your L&D efforts. Taking away the pain of administration, supplier management, implementation of LMS or learning technology and carrying out learning needs analysis.