Adopt L&D as a Competitive Differentiator – (and you won’t have to stand on your head)
When I was growing up, there was an outlandish car dealer on TV who did unusual stunts, including offering to eat a bug, do a cartwheel, and stand on his head to get business. Lately, this reminds me of the offers some companies are making to attract and retain top talent. And although massage Mondays and snacks are fun perks, they won’t create a culture of inspiration and collaboration. True engagement comes from human-centered efforts. One such effort, proven to be a competitive differentiator, is learning and development (L&D).
Targeted training can help leaders become the empathetic coaches and help team members learn the social and cognitive skills to work collaboratively and thrive in their roles. Well-planned L&D can improve retention, increase engagement, heighten success and lead to enhanced productivity. In fact,
If a company invests in employees’ careers, 94% said they would stay at the company longer. (HBR)
Employees who have access to professional development are 15% more engaged. (business.com)
Retention rates are 34% higher among organizations that offer employee development. (ClearCompany)
So how can we make L&D the valued differentiator to benefit individuals, leaders, and organizations? A leader of a growing company recently asked my guidance, so I put together the following proven L&D planning tips.
1. Conduct a needs assessment. Figure out the top skills needed for leaders and team members in each role. One-on-one development conversations are the first step. Other methods include employee surveys, focus groups, interviews, and alignment with role-based competencies. Needs assessments should determine what skills are required for success today, as well as what knowledge can help employees progress. Since 91% of employees want personalized, relevant training, it is important not to skip this step.
2. Create Your L&D Plan. According to Accenture, only 29% of organizations have a clear L&D plan. Career planning is one of the top requests I receive from leaders, as this is an important cultural advantage, particularly for the Gen X workforce. The plan should specify the learning content (emotional, social, cognitive, transferable, & technical skills), as well as the method for learning. Include on-the-job experiences, and mentoring, as well as in-person and e-learning courses. Identify how you will source the content – internally or with learning partners. Finally, ensure that people leaders have the knowledge and resources to support ongoing learning.
3. Provide Consistent Feedback & Evaluation. Organizations with the most success with L&D embed learning into their ways of working. People leaders have ongoing development conversations to discuss insights and provide timely feedback. This is a terrific way to build trust and stay connected. Additionally, be sure to evaluate the L&D program. Are employees learning the skills they need to be successful? Do they practice learned behaviors to communicate effectively? Is growth mindset prevalent across all levels of the organization? Are employees engaged and committed? Link L&D evaluation to skills and focus on assessing learning outcomes, not inputs.
As you prepare to support, enrich, and celebrate your employees in the upcoming year, take action to conduct a needs assessment, create your L&D plan and provide feedback on learning. You will engage, advance, and retain your people without ever having to stand on your head.