Did you know that December 6-10 is Employee Learning Week? Sponsored by the American Society for Training and Development, (ASTD), this is a time that organizations are encouraged to showcase their commitment to employee learning and development.
It is a common reaction in tough times to cut budgets for employee training. Smart companies that have a longer-range focus, however, understand the necessity of finding a way to continue to invest in the development of their people, even when times are economically challenging.
There are several important business reasons why this is a necessary time for companies to recommit to employee learning and development:
Are you seeking a competitive advantage in the marketplace? Companies who are future-focused and make training a priority will be armed with highly skilled employees and well-developed management when the economy turns around. This will help them to be poised to have a more competitive edge going forward.
While their competitors cut funds or suspend employee development, visionary organizations will be pushing forward, understanding that to wait until robust times return to develop their talent will be too late.
Has your company needed to downsize or re-organize? If so, one of the resulting challenges will be your “survivors” performing multiple jobs. In many cases, the jobs that they inherited are ones that they were not hired to do, nor are they necessarily equipped to perform well.
When employees are expected to do a job for which they have not been trained, they feel incompetent. When frustration mounts and they feel that they are doomed to failure at your company, they may very well leave be able to succeed elsewhere.
Are you concerned about recruiting and retaining the younger generation of employees? Some employees, especially the younger ones who are serious about their budding careers, expect you to invest in them, or they will leave. They thrive on skill acquisition and professional growth.
If you don’t recognize this important need over a reasonable period of time, you will be at risk of losing some of your best and brightest potentials. Remember, too, that the cost of professional development for employees is far less than the cost you will incur to replace them if they leave.
Learning organizations – those who place a high value on knowledge assets and continuous learning – are predicted by the experts to be the ones who will survive the heated competition for talent and customers in the next decade.
Where are your spending priorities? Do you consider training and development an expense or an investment? What is the message that you are sending to your employees? Is it one of fear and uncertainty? Or one of courageous trust and confidence in the future?
Investing in employee development – anytime, but especially in tough times – sends a strong and positive message to those who keep the economic engine of your business running. They want to feel that they are in a place that is viable and competitively positioned for their future. Preserving and promoting training and development will help make employees feel confident about your company and their continued employment with you.
The American Society for Training and Development is encouraging employers to recognize Employee Learning Week by re-dedicating themselves to employee learning, and highlighting its link to positive organizational results.
