Let’s face it, the world of work is changing faster than a chameleon on a disco ball. If you’re not constantly learning and growing, you may not be making the most of your career. And for this very reason, learning and development (L&D) is here to save the day – and your career. And these aren’t just empty words, the data backs it up. Let’s dive into some stats.
The Modern Workplace (your changes arena)
What’s in it for the employer?
First things first, the majority of organisations (90%) are concerned about employee retention, and providing learning opportunities is the number one strategy to tackle this. Clearly, employers are waking up to the fact that a stagnant employee is a flight risk. And it’s not just about keeping people in their seats. Going by the Blanchard HR L&D Trends Report, A whopping 76% of respondents felt that their employee engagement levels were improving as well
But it’s not all sunshine and roses. In fact, 38% of employees feel pressure to increase productivity, and that reduces engagement (-12%), intent to stay (-14%), and wellbeing (-13%) according to the LinkedIn Workplace Learning Report 2024. It seems that a focus on well-being, as well as development, is needed.
L&D( your Secret Weapon)
The LinkedIn Workplace Learning report 2024 further finds out that, learners who set career goals engage with learning 4x more than those who don’t. as per Blanchard HR L&D Trends Report. It seems a focused mind can do wonders for growth. And it is good for business too! Companies with strong learning cultures experience 57% higher retention rates, 23% more internal mobility and 15% more promotions to management, compared to those with weaker cultures It’s basically a win-win-win situation.
Bonus, it turns out that 7 in 10 people say learning improves their sense of connection to their organisation and 8 in 10 say it adds purpose to their work Learning is like a workplace superpower.
Career Development (time to jump on the rocket ship)
Interestingly LinkedIn Workplace Learning Report 2024 find out that, Gen Z values learning for career progress more than other generations with 53% agreeing that “through learning, I can explore potential career paths at my company” compared to 37% of other generations. So if you are looking to engage the younger generations you know what to do!
Internal mobility is becoming more popular too, with 87% of L&D professionals saying they can show business value by helping employees gain skills to move into different internal roles. It might just be the way to help you go the extra mile.
The Future is Bright (and Techy)
Organisations anticipate an 11.7% increase in overall training spending in 2025. While, it seems there is a push for in-person classroom training, but also virtual and hybrid models. Also – 47% of L&D teams plan to deploy micro learning programs in 2024. So, bite-sized learning seems to be the direction.
Learning and development isn’t just some corporate buzzword – it’s a crucial part of staying relevant, engaged, and, dare I say, happy at work. Whether you are looking to climb the corporate ladder, explore new tech, or just avoid becoming obsolete, it’s clear that investing in yourself through L&D is the smartest thing you can do. And for corporates it is clear too as to where should they invest, not just in a robust Learning & Development strategy but also a dynamic tool that helps adapt to the changing learning needs of their employees.