I know that employee training is a crucial factor to achieve higher customer satisfaction, more innovation, lower costs and faster growth.
Learning and Development
When I look at high performing companies; learning and development are at the core of what they provide to the people in their organizations.
Success of Training
It is clear that training of the people creates higher engagement, morale, commitment and less voluntary turnover. The success of training can be argued via its return on investment.
I see that training is a strategic priority for many companies. Their learning and development budget is increasing due to the growing competition between companies in local and global business world.
Therefore, each company has to develop and implement a long-term strategic learning and development policy, according to changes and needs in the sector, technology, service and customer needs in local and global business world.
Take the Leap
I know that if companies want to create excellence in business, they have to invest in learning and development of their people and value their employees make their organization as competitive and stronger.
When I look at most innovative companies and organizations who are industry leaders, it’s not a coincidence that they invest highly in training and innovation management. Look at some countries; they invest in training and development of people and innovation culture and they achieve success in economic development and welfare of the society.
Learning and Development Programs
I have to say that programs have to keep pace with shifting corporate goals. The top areas for learning and development are procedures, processes, compliance, supervisory and reports. I have to say that each company has to implement a program that will create the productivity, operational excellence, organizational alignment and agility, growth, more transient competitive advantages, customer loyalty and economical advantages for people in the organization.
Competition for Top Talent
It is clear that companies and countries are competing and business world is being more uncertain and complex each day due to the increasing innovations in technology and services. Some companies and countries are sleeping on the table and others are developing and implementing new technologies, services and products that are more competitive in quality, cost, distribution and customer needs. All of these developments push the companies to find talents and skilled people. Some sectors are disappearing and others are growing.
Therefore, there is more competition for top talent and these people look for opportunities to grow and gain more responsibilities.
If companies spend the time and money to invest them, this leads to a positive relationship between company and employee to create excellence in business.
I know that if a company invests in employees, then employees invest in their work. While it can be an extensive upfront cost, the cost will be less in the long run due to the achievement of the strategic goals faster and with less expense. I have to say that business performance is linked to the individual performance in this situation.
Employees, Managers and Executives
These are the right stakeholders to achieve success in effective learning and development. It involves them. The learning and development start from the top and whole organization has to buy into it. It should be linked to the organization’s overall strategy.
Making it a Priority
When we look at Fortune 100 Best Companies to Work shows that they are committed to employee development as a top strategic priority in three categories:
- Development programs to engage and retain top talent
- Aligning the development programs with the company goals
- Building a potent leadership pipeline
These companies devote 73 hours per year to workers’ development.
Measuring the Impact of Learning and Development
Of course, outcomes, effectiveness and efficiency have to be measured to evaluate the performance of the training.
What Type of Programs?
The training programs have to add a value to the people to solve the issues faster and with low cost.
I know that the best learning can be the combination of the real practice and on-site with the real issues with low cost and high effectiveness. Other learning can be online, face-to-face, self-paced, on-site and off-site training, webinars etc.
I see that many companies are hiring poor experts to give training and development programs due to their weakness in leadership and HR. Therefore, they fail to create a value.
Most of the companies prefer to give internally-produced training (62% in 2013, USA).
The Return on Investment of Training and Development
I have to say that training and development has to provide operational excellence, organizational agility and alignment to the company.
It should incorporate an innovative and competitive culture and values.
Of course, learning and development has no benefits unless employees can apply it to achieve an impact in accordance with the company goals.
Companies have to work with the right leaders and/or experts who have great experience, know-how and skills.
Company leaders have to understand that learning and development is a top priority to compete locally and globally in today’s hypercompetitive business world.
They have to work right leaders and/or hire great experts to apply such programs.
Programs have to be practical.
So that they can create transient competitive advantages, more innovations, better growth and higher customer loyalty in the long-term.
Otherwise, they can fail in the long run as in the 88% of the Fortune 500 companies after 1955.
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Yusuf Tokdemir is a business advisor, entrepreneur, innovation consultant, growth strategist, keynote speaker, founder of Chocolat Garden and Innovation Turkey. He has a proven track record of success in multi-industry.
He is open to opportunities.
Innovation Turkey is an Innovation Management Consulting and People Development Company. It collaborates with the companies for people and leadership development, new product design, new service design, new business design and organizes seminars and workshops on innovation management and productivity to achieve competitive commercial outcomes. Contact Yusuf Tokdemir through Linkedin or email him directly at email@example.com
Chocolat Garden is an artisan chocolatier that produces highest quality handcrafted fresh chocolates for chocolate lovers. Now Chocolat Garden Turkey is looking for cooperation, investment and partnership opportunities and will give franchise.