Many employers offer education and development opportunities to employees to enhance their skills and support career progression. But there are so many more reasons why companies should invest in learning and development. Here are just a few reasons to make education a benefit of employment.
How Learning and Development Benefits an Organization
Learning and development is a hot topic in 2023, and more and more companies are making Learning & Development initiatives part of their HR process. Here are some of the key ways that these programs benefit an organization:
- Develops skills that meet business needs. Most organizations focus all their learning and education efforts on the onboarding and training process for new hires. Creating ongoing learning opportunities allows employees to expand their skillset and add more value to the workplace as their career progresses.
- Improve performance and productivity. Many performance and productivity issues are unrelated to job skills and ability. Offering learning and development opportunities around ancillary skills like organizing and prioritizing, communication and conflict management, effectively handling decisions and distractions, etc. can all improve an employee’s workplace performance.
- Improves employee morale and retention. Employees who believe their organization is invested in their satisfaction, growth, and career progression make them 61% more likely to stay in a job. Up to 48% of employees would consider changing jobs to a company that offers more learning opportunities.
- Reinforces company culture. Company culture isn’t just what you say, it’s how you say it. Learning & Development programs demonstrate the company values, and the specific programs and courses can reinforce culture by fostering teamwork, enhancing communication, and promoting good corporate citizenship. This can be especially valuable in remote and online workplaces, where culture can be more difficult to demonstrate and perpetuate.
How Learning and Development Benefits Employees
While most organizations can clearly see the direct economic benefits of improving employee’s skills and performance through education, good learning and development programs should offer a wider range of opportunities. Education programs that aren’t directly tied to workplace skills, offering courses in languages and communication, health and wellness, and even the arts and sciences, can provide a profound ROI for employers and employees. Some of the key benefits of expanding L&D offerings include:
- Promote employee health and happiness. Ongoing education in the workplace offers opportunities to learn healthy life skills like physical fitness or stress management. It also allows employees to create richer and more fulfilling lives, making them healthier, happier, and more balanced as individuals. This not only improves individual employee performance and retention, but can also promote healthy behaviors within work teams and more positive interactions with customers.
- Foster creativity and innovation. Ongoing education, regardless of the subject matter, improves cognition and brain health, supporting creativity and problem-solving. Lifelong learning allows people to gain new understanding and make new connections, improving resourcefulness and innovative thinking. Creative employees improve organizational function, efficiency, and performance in countless ways, large and small, regardless of industry or job role.
- Create flexibility for new opportunities. Perhaps your company doesn’t currently need Spanish speakers, event planners, or creative writers. However, cultivating a broad and diverse skillset creates a dynamic, flexible workforce that can quickly adapt to new challenges and new opportunities. A company full of highly skilled, creative, motivated employees who are committed to the organization and its values can do nearly anything.
Companies creating or expanding their Learning & Development programs are much more attractive to highly skilled job candidates. For more information on attracting top talent in consumer goods and life sciences, contact grapefrute today.