In today’s ever evolving and competitive business landscape, Learning and Development (L&D) have become key components for the success and sustainability of companies. Businesses can no longer thrive by simply maintaining the status quo. Continuous learning and skill enhancement has never been more important.
L&D initiatives serve multiple purposes within a company:
- Enhanced Skills and Competencies – Enabling employees to acquire new skills and improve upon existing ones benefits the company, making it more competitive in the market. According to eLearning Industry, companies that invest in L&D are 59% more likely to experience growth and are 27% more cost efficient than those that don’t.
- Increased Engagement – If you’ve read my past newsletters, you know that engaged employees are more productive, creative and loyal. A Gallup study found that employees had 32% higher productivity, 43% lower turnover, 10% higher customer loyalty, and 81% less absenteeism in organizations that had high levels of engagement, as compared to those with low levels.
- Attract and Retain Top Talent – A LinkedIn Workplace Learning Report found that 76% of employees want to learn new skills and 59% of them believe that learning and development opportunities are essential when considering a job. Also according to LinkedIn, 93% of employees say they would stay longer at a company that invests in their career development.
- Staying Competitive – According to PwC, 74% of CEOs reported that they are concerned about the availability of essential skills in their workforce. Consequently, 77% of CEOs planned to upskill a portion of their existing workforce to bridge the skills gap.
- Improved Leadership – Effective leadership is crucial for organizational success. A study by Deloitte found that organizations with excellent leadership development programs are 2.3 times more likely to outperform their peers’ financial performance. L&D programs help companies identify and improve leadership talent within the company.
A CFO says to his CEO,
“What happens if we INVEST in DEVELOPING our people and then they leave us?”
The CEO responds, “What happens if we DON’T, and they STAY?”
At Ross Insight Solutions we partner with companies to ensure the success of their learning and development programs. We work with each company to assess their internal needs, develop a tailored approach, encourage a “learning culture” within the company, and measure and evaluate the effectiveness of learning initiatives.
We provide training in areas such as:
- Legal Compliance – discrimination and harassment, leaves of absence, pay practices, etc.
- Talent Acquisition – hiring and onboarding
- Retention and Engagement
- Total Rewards – compensation, benefits, rewards and recognition, etc.
- Performance Management – performance evaluations, disciplinary actions, etc.
- Career Development, Mentoring and Succession Planning
- …and many other topics
TRAIN people
well enough
so they can leave,
TREAT them
well enough
so they
don’t want to.
(Richard Branson)
Thank You For Attending!
Preparing for 2024:
Strategic Insights from Trusted Advisors
Workshop for Greater Boston Area CEOs
Thank you to all who participated in the Preparing for 2024 Workshop!
If you missed the event, be sure to watch for more information for the next one.
