In this article, we'll provide all the questions you need to consider when planning your L&D spending.
The World Economic Forum has called the time following the global pandemic The Great Reset. McKinsey recently polled 800 executives about the future of work and found it’s in a state of disruption. This transition time is highlighted by a need to reskill and upskill our workforce. Related research from McKinsey shows that one of the most valuable skills an employee can have is knowing how to learn. Learning itself has become a skillset that the modern workforce requires to stay competitive and relevant.
One of the most valuable skills an employee can have is knowing how to learn.
In recent years both Apple and Google have announced billion-dollar investments in workforce training. So what happens to organizations without billion-dollar training budgets? How can mid- and large-size companies maximize limited budgets allocated for employee learning?
To make the most of learning and development resources, companies must plan, develop, and execute learning. Each step of the process requires time and cost investments.
To assess L&D costs start by identifying:
It's go time. Now that your plans are in place, are your employees ready to learn? How will they fit learning into their schedules? How will you motivate them to complete their learning?
Forbes has predicted that “corporate learning will become an everyday thing.” Can your organization afford to train employees every day? What are affordable, agile alternatives to the traditional model of plan, develop, and execute?
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