L&D as a competitive edge

Learning and development (L&D) typically rank among the top five “wants” on employee satisfaction surveys. Employees are keen to develop both personally and professionally. Yet, when times get tough, the learning and development department is the first on the chopping block. This comes at the expense of employee engagement, being the employer of choice and commanding a competitive edge in the marketplace.

With the changing employee demographic – from Generation X and Y to Millennials – the current workforce looks for career development, career opportunities and continuous learning. According to a report from Aon Hewitt, 2014 Trends in Global Employee Engagement, the top drivers of engagement are: brand which includes company reputation and corporate social responsibility; leadership which includes senior leadership, and performance which speaks to career opportunities and learning & development.business competing

A company’s greatest asset is its people resources. Having an engaged, knowledgeable and skilled workforce is not only good for the bottom line but also good for competing for top talent.  Company loyalty is not what it used to be so employees today are looking for organizations that will invest in their success. This is a driver for retention. What is the ROI on this investment? Employees who remain – less turnover, employees who advance and become brand ambassadors and employees who are invested in the company’s earning potential. After all, a company is only as good as its people.

 

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