With the average lifespan of the S&P 500 shorter than ever and employees' single company tenure also decreasing at a rapid rate; it can be said that change is undoubtedly inevitable. This type of churn and constant disruption brings attention to learning and increases its importance. A good Learning & Development program is only as good as the leadership team that supports it. Effective leaders understand the significance and value of learning and realize that it can be a significant revenue driver. High performing companies and learning leaders instill four key principles that transform Learning and Development from a business cost to a true business driver within their organizations:
- Align the goals of the organization, the leadership and those of the workforce
- Elevate learning programs as a means to flatten the business hierarchy (so all players see themselves as owners)
- Employ more effective strategies for developing and sharing knowledge
- Establish objectives whose results are both measurable and repeatable
Not only can consistent learning programs be good for revenue, they can also be effective in retaining and developing skilled employees, especially Millennials. Young professionals born in the '80s and '90s, will make up nearly 50% of the workforce by 2020, but 90% of them do not plan to stay at any given job for more than three years.
Ultimately, how a company adapts to constant change and disruption could affect its ability to thrive. A learning program that fosters this change could mean higher revenues and longer tenured employees in the long run. This whitepaper will provide insight to how major companies are using Learning and Development programs to not only adapt to change but drive it.
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