Make it personal: Tailor career, skills and learning development experiences uniquely to your employees' goals and interests.The study concludes that traditional hiring and training are no longer as effective, that different strategies and tactics can have a strong impact on closing the skills gap. Organizational cultures are shifting: The digital era has introduced the need for a new business model, new ways of working and a flexible culture that fosters the development of critical new skills.

Intelligent automation is an economic game changer: Millions of workers will likely require retraining and learning new skills, and most companies and countries are ill-prepared for the task.

Skills availability and quality are in jeopardy: The half-life of skills continues to shrink, while the time it takes to close a skills gap has ballooned, forcing organizations to find ways to stay ahead of skills relevancy.

Skilled humans fuel the global economy: Digital skills remain vital, but soft skills have become more important.

A recent meta-level IBM study (PDF) predicts that more than 120 million workers in the world’s twelve largest economies may need to be retrained in the next three years because of AI-enabled automation. Organizations also have to rethink the larger framework of what skills will be needed in the near future. Businesses must build a culture of ongoing self-directed, self-motivated learning with focused distance learning programs and mobile 'just-in-time' training. Most training won’t be fully retained by learners. Recent articles and industry surveys suggest that a lot of corporate training may be ineffective.

Added innovation: Consistently trained employees can help develop new strategies and products, contributing to the company’s bottom line and continued success.Ability to cross-train: Providing consistent training creates a knowledgeable team overall where employees can help train or assist each other as needed.Bolstered safety: Continuous training and development helps ensure employees have the knowledge and skills to perform a task safely.Increased camaraderie: Training and development helps create a sense of teamwork and collaboration.Increased consistency: Well-organized training ensures tasks are performed uniformly, resulting in tight quality control that end users can trust.Attract highly skilled employees: Top recruits are attracted to firms with an identifiable career path based on consistent training and development.Increased job satisfaction and retention: Well-trained employees gain confidence in their abilities, leading to greater job satisfaction, a reduction in absenteeism and overall employee retention.Train future leaders: Organizations must have a solid pipeline of well-trained and innovative potential leaders to grow and adapt over time.Reduced micromanagement: If workers feel empowered to perform a task, they typically require less oversight and work more independently.Increased productivity: When employees stay current with new procedures and technologies, they can increase their overall output.The top ten benefits of employee training and development programs include: Successful businesses understand that it’s more beneficial and cost-effective to develop their existing employees instead of seeking out new talent. The practice of growing employees into managers and managers into effective leaders by the ongoing enhancement of certain knowledge, skills and abilities. These efforts are roughly divided into two types of programs:Ī strategic tool for improving business outcomes by implementing internal educational programs that advance employee growth and retention.

Sometimes referred to as Human Resource Development (HRD), most employee training and development efforts are driven by an organization’s HRD function. Common training practices include orientations, classroom lectures, case studies, role playing, simulations and computer-based training, including e-learning. Training programs can be created independently or with a learning administration system, with the goal of employee long-term development. These programs typically involve advancing a worker’s knowledge and skill sets and instilling greater motivation to enhance job performance. Training and development initiatives are educational activities within an organization that are designed to improve the job performance of an individual or group.

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