{"id":8677,"date":"2019-04-15T09:30:37","date_gmt":"2019-04-15T13:30:37","guid":{"rendered":"https:\/\/blog.brainstation.io\/?p=8677"},"modified":"2019-04-23T17:06:19","modified_gmt":"2019-04-23T21:06:19","slug":"3-reasons-why-every-workplace-should-invest-in-learning-and-development","status":"publish","type":"post","link":"https:\/\/brainstation.io\/blog\/3-reasons-why-every-workplace-should-invest-in-learning-and-development","title":{"rendered":"3 Reasons Why Every Workplace Should Invest in Learning and Development"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">We\u2019ve written in the past about how digital skills training can help <\/span><a href=\"https:\/\/brainstation.io\/blog\/how-employee-training-can-help-your-digital-transformation\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">your company\u2019s digital transformation<\/span><\/a><span style=\"font-weight: 400;\">, but there\u2019s increasing evidence that a learning and development (L&amp;D) program is now an essential component of the digital economy. Today\u2019s employees are increasingly seeing the value in ongoing, professional development that improves their performance on the job, and prepares them for the future. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are three reasons every company should be investing in L&amp;D.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">L&amp;D Improves Employee Engagement and Retention<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Employee retention often comes down to one thing: engagement. Are your employees engaged in their job and happy to come to work? According to Gallup\u2019s <\/span><a href=\"http:\/\/www.gallup.com\/services\/178514\/state-american-workplace.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">State of the American Workplace<\/span><\/a><span style=\"font-weight: 400;\">, only 32 percent of workers felt this way about their jobs. Unfortunately, this is most likely exacerbated by the digital transformation that is now changing entire industries. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the <\/span><a href=\"https:\/\/brainstation.io\/research\/digital-skills-survey-2019-results\/executive\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">2019 Digital Skills Survey<\/span><\/a><span style=\"font-weight: 400;\"> results:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">74 percent of organizations are actively involved in digital transformation.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">63 percent of executives say their digital investments are growing.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These rapid digital shifts are ultimately creating concerns and anxiety around job security in many organizations. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">An L&amp;D program has the benefit of boosting your company\u2019s skill set and knowledge, while also improving overall morale and engagement. It is one of the simplest and most effective ways to show your employees that you care about their development and future, which ultimately plays a big role in keeping them from leaving. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">There is evidence to back this up. <\/span><a href=\"https:\/\/www.shiftelearning.com\/blog\/statistics-value-of-employee-training-and-development\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">In a 2017 survey<\/span><\/a><span style=\"font-weight: 400;\">, which surveyed 400 employees spanning three generations, 70 percent indicated that job-related training and development opportunities influenced their decision to stay at their job. 87 percent of millennials (who now make up 42 percent of the workforce), also said access to career growth opportunities was very important in deciding whether to stay or go. Overall, <\/span><a href=\"https:\/\/www.forbes.com\/sites\/nazbeheshti\/2019\/01\/16\/10-timely-statistics-about-the-connection-between-employee-engagement-and-wellness\/#7c8f13f522a0\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">highly engaged teams are said to experience 59 percent less turnover<\/span><\/a><span style=\"font-weight: 400;\"> than teams that are less engaged. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This can have a massive impact on the bottom line, particularly when it comes to closing skills gaps. According to a 2019 <\/span><a href=\"http:\/\/www3.weforum.org\/docs\/WEF_Towards_a_Reskilling_Revolution.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\">, it\u2019s now cheaper to reskill current employees than to hire new ones, which means an effective L&amp;D program can save your company valuable time and money that would have otherwise been spent on recruiting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s also been suggested that a 10 percent increase in educational development leads to an <\/span><a href=\"https:\/\/www.businessknowhow.com\/manage\/higherprod.htm\"><span style=\"font-weight: 400;\">8.6 percent gain in productivity<\/span><\/a><span style=\"font-weight: 400;\">, with <\/span><a href=\"https:\/\/www.gallup.com\/services\/190118\/engaged-workplace.aspx\"><span style=\"font-weight: 400;\">highly engaged workforces outperforming less engaged teams by 147<\/span><\/a><span style=\"font-weight: 400;\"> percent. According to The American Society for Training and Development (ASTD), companies that offer comprehensive training also have a 24 percent higher profit margin and a six percent higher shareholder return over companies that do not provide training.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">It Builds Your Employer Brand<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the reviews-based world we live in, people can easily turn to social media or websites like Glassdoor and Payscale to read anonymous reviews from current or past employees to discover what it\u2019s really like to work somewhere. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In fact, <\/span><a href=\"https:\/\/www.inc.com\/peter-economy\/19-interesting-hiring-statistics-you-should-know.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">54 percent of us do<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This means an employer\u2019s reputation is now more important (and more fragile) than ever, and providing ongoing learning opportunities is an easy way to cultivate a strong workplace culture and employer brand. Apart from the impact, this can have on your company\u2019s reputation, there is evidence to suggest that it can be a recruitment tool in and of itself. In fact, 42 percent of employees say <\/span><a href=\"http:\/\/www.selectinternational.com\/blog\/10-employee-engagement-statistics-of-2018-how-to-learn-from-them\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">learning and development is the most important benefit <\/span><\/a><span style=\"font-weight: 400;\">when deciding where to work.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">It Improves Company-wide Innovation and Performance <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As Richard Branson has famously said, \u201cClients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you\u2019ve embedded a culture of learning and support in your workplace, innovation is a natural and fruitful by-product. An ongoing learning strategy provides a context for your team to think forward. And by mapping out your employees\u2019 career pathways, you are not only promoting a leadership mindset among junior employees but also preparing your company for long-term growth. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Innovation keeps employees engaged, excited, and encourages them to perform better, which will be reflected in your brand as an industry leader that stays ahead of trends. In fact, <\/span><a href=\"https:\/\/www.shiftelearning.com\/blog\/statistics-value-of-employee-training-and-development\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u201ccompanies with engaged employees outperform those without by up to 202%.\u201d<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Not only does ongoing learning support the team on the ground by creating a \u201c<\/span><a href=\"https:\/\/gelbgroup.com\/why-a-learning-culture-helps-you-improve-your-companys-bottom-line\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">pool of employees who are quick learners and flexible workers<\/span><\/a><span style=\"font-weight: 400;\">,\u201d it also enables senior leadership to embrace innovation and \u201cweave [it] into the daily business processes of the company to reduce costs and wastage and drive up productivity and profits.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So whether your company is interested in new techniques to engage your team, a strategy to improve your employer reputation, or ongoing innovation, a comprehensive learning and development program will help address those challenges.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><em>Looking to <a href=\"https:\/\/brainstation.io\/corporate-training\" target=\"_blank\" rel=\"noopener\">train your team?<\/a> BrainStation&#8217;s Enterprise Team can help find the best learning option for your organizational needs.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s increasing evidence that a learning and development program is now an essential component of the digital economy. Has your company invested in one? <\/p>\n","protected":false},"author":7,"featured_media":8681,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[533,644],"tags":[430,442,208,842],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Reasons Why Every Workplace Should Invest in Learning and Development | BrainStation\u00ae Blog<\/title>\n<meta name=\"description\" content=\"Struggling with employee retention? Skills training can help. 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