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Using Learning and Development for Better Business
While some employers have the mistaken perception that a development programme for employees is a drain on company resources, a sound learning and development strategy in any company can have huge benefits for the business overall. It can form the basis for optimising human capital and build the leadership and business skills into the company that are essential for driving organisational goals and company success.
But getting the most from any learning and development policy means doing it well. Here are some factors to take into consideration when planning yours:
Create a plan that focuses on company objectives
In order to get a return on your investment in learning and development, your strategy should be developed with organisational goals in mind. So, for example, if your company long term plan is for growing sales, then incorporating marketing and sales skills into the programme should deliver results.
Invest time and money for real ROI
Don’t do it half-heartedly. Create a budget for the programme and recruit a senior member of staff with adequate funds, resources and support to manage the initiative. It’s important to secure buy-in from everyone across the organisation. Meet with stakeholders and department heads to see what they want to achieve from learning and development policy and try to integrate feedback from across the organisation into the plan as it’s developed. If you are new to finance, why not take a look at our finance for non finance managers courses?
Get the tools for success
Research what learning and development tools and technology is out there to help and apply whatever is suitable for your business model. Today, there are more online learning applications than ever before that can help your pursue your learning and development goals at a much lower cost than in the past. Don’t forget to use applications that can help you monitor, measure and evaluate the success of your learning and development initiative. That way, you can use the figures to validate your initiative and fine-tune it for even better results in future.
An investment in your people is an investment in your business
There are huge benefits to be gained from a learning and development project, such as better staff morale, improved productivity, faster attainment of company goals, lower recruitment costs and better retention rates. But, most important of all, it gives you the opportunity to create a workforce that’s better skilled and more effective than that of your competitors.
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