There is no way around it, learning and development (L&D) is one of the most important areas of human capital management today. If anyone tries to tell you otherwise, you can find some compelling data to aid the argument in support of L&D in our blog post.
LinkedIn Learning’s 2019 Workplace Learning Report strengthens the case for investing in L&D in the here and now. Having surveyed over 3,000 talent developers and workplace learners, LinkedIn Learning found that increased budgets and executive support are now paving the way for more strategic talent development teams. The survey also found that talent developers are focusing on proactive efforts like understanding skills gaps and developing relevant learning programs for workers.
Another interesting finding from the survey was that L&D budgets have shifted dramatically over the past three years, with 59% of talent developers spending a larger portion of their budget on online learning rather than instructor-led training this year.
Here’s why online learning platforms are the future of L&D
Real time learning — A report published by the World Economic Forum, states that no less than 54% of all employees will require significant re- and upskilling by 2022, meaning more than half your workforce will need effective L&D programs to continue to do their jobs in the future. A few years ago, that meant a lot of time spent organizing classroom training programs, finding training personnel and trying to fit into everyone’s busy schedule. Today, online learning platforms have changed this situation drastically, as employees don’t have to wait for in-person classroom trainings to upskill. An online learning platform serves as a repository of off-the shelf training content and customized content created internally, all of which are available to employees everywhere, at any time.
Updated content — Due to the fast pace of digital transformation, organizations today are compelled to face change much faster than before, resulting in increasing skills gaps amongst the workforce. One way to deal with this is by creating a culture of ongoing learning in the workplace. Coming of Age Digitally reported that more than 90% of 4,300 respondents were aware they need to update their skills annually to work effectively in a digital world, with 44% respondents reporting they needed to update their skills ‘continually’ to do their job effectively. Employees are aware of the need for ongoing learning, but what are organizations doing to support them? Online learning platforms help deliver relevant, up-to-date content on a continuous basis, so that employees can keep re- and upskilling at a much faster pace than through traditional in-person training.
Engaging learning opportunities — Today’s workforce is more mobile and social than ever, and they expect organizations to provide learning opportunities that reflect that culture. As per LinkedIn Learning’s report, mobile learning has shown an increase of 5% in the past year, and over half of learners of all age groups have stated that they value more social, interactive, collaborative learning environments. More interaction and collaboration lead to more engagement, which in turn leads to higher retention of learning content. Higher retention means that your employees have actually benefitted from L&D initiatives.