4 Reasons Why You Need to Invest in Employee Development

Posted by Mark Jackson on Thu, Jun, 29, 2017 @ 11:06 AM

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According to Training Mag, the average amount a midsize company dedicated to the training budget was $1.5 million.

Companies of every size are shelling out the big bucks to train their new employees. Why? Because new employees are an investment and the future and they need to be molded into the common practices and company culture of the workforce in which they are placed. Communication is key in order to keep those new nuggets of talent and in case you hadn’t heard the cost of replacing an employee is through the roof these days. It costs 50-60% of an employee’s annual salary. 

So why should you revamp your employee development program?

 

1. Engaging with your employees leads to SUCCESS

This one’s a no-brainer, but is often seriously overlooked. Engage with your employees, especially your new ones. The more your employees participate in company culture and are associated with the company’s goals and interests the more they can support all those pieces.

 “Employee development is a way that you can keep your employees engaged at work to prevent that kind of boredom from setting in. Interesting training programs, and future development events that are fun or challenging to look forward to — this removes the plodding daily feel to a job that leads to that dreaded boredom.”

-Chad Halvorson, When I Work

 

Unsurprisingly, 70% of employees who don’t have confidence in the abilities of senior leadership are not fully engaged. Engagement is easy when tackled from a conscious standpoint.

Tweet This: See what happens when employees don't believe in the abilities of senior leadership:

 

2. The fiscal and emotional costs of replacing an employee

The stresses that come with replacing an employee can sometimes outweigh the fiscal costs of replacing said employee. Our advice? Avoid it all together with a streamlined, simple, informative and productive employee development process. For example, companies are re-engineering their talent development and learning management systems. 

In need of some help in this department? Check out Visibility’s learning management resources to help aid in the assistance of employee development.

 

3. HR Professionals are constantly looking for ways to improve their processes

Keep up on your employee development processes. Setting up a good platform in which an employee can learn paves the way for successful training and continual development in the future. 80% of companies believe HR skills are an issue and 39% rate this as an outright issue. 

 “Highly-structured, one-size-fits-all learning programs don’t work anymore. Individuals must own, self-direct, and control their learning futures. Yet they can’t do it alone, nor do you want them to. The development and growth of your talent is vital to your ongoing success, ability to innovate, and overall productivity.”

- Keith Ferrazzi, Entrepreneur

 

4. Informal learning, while great, should not be your main vessel of training

Who doesn’t love inadvertent learning? That special kind of learning sharp witted new employees simply pick up from observing and inferring from other employees? While this type of “off the cuff” training is great, it should NOT be a company’s only means for knowledge sharing. An astounding 87% of companies rate "retention, engagement, and culture" as an important imperative and 50% rate it "urgent."

Leaving too much for an employee to infer can lead to major communication problems in the long run. Misinterpretation is the essence of all workplace issues! Be nothing if not overly clear about what you expect from your employees.

Now you have your reasons, but here comes the real work. Check out the many solutions Visibility Software has to offer to enhance employee development if you don’t know where to start. You might be surprised at just how easy employee development can really be and the postive impact it will have!

For more check out our best practices guide - 

Best Practices Guide - 3 Steps To Achieve Talent Development That Drives Organizational Success

 

Tags: learning management system, training management, learning & development, employee development, talent development

The Real Value of an Employee Development and Training Strategy

Posted by Mark Jackson on Fri, Apr, 28, 2017 @ 12:04 PM

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The Real Value of an Employee Development and Training Strategy

Many organizations that we speak with tell us that while they understand the value of employee training and development, they aren’t certain they need a formal learning management program to deliver, track and manage that training. Many of these organizations track the training they do provide in spreadsheets or even with paper files. While we can agree that any approach is better than no approach, learning management programs are ideal candidates for automation. There are big benefits to be realized from standardizing processes and automating the workflow surrounding employee training, and here we take a look at just a few of those benefits. 

Aids retention

Studies tell us that 40 percent of employees who receive poor job training leave their positions within the first year, citing the lack of skills training and development as the principal reason for moving on. Employee development and training programs help employees feel invested in their jobs and in their organizations. A well-established program ensures that employees continue to feel motivated to advance their own careers within the company, as well as to advance the company’s mission, rather than turning elsewhere for new opportunities. 

Attracts job seekers

An organization that has a standardized employee development plan reassures job seekers that the company is invested in their long-term success and advancement within the organization. Applicants are less likely to invest themselves in a company that doesn’t show the same commitment in return. A recent Bersin study noted, “Companies with career management programs are better able to attract and retain top talent, leading to higher employee engagement and, in turn, a positive impact on the bottom line.” 

Automates manual processes

If your training requirements are modest, it may be tempting to continue to use the collection of spreadsheets to track course offerings, registrations and certification renewals, but by deploying a smart learning management solution, you can dramatically reduce the overhead involved, saving money and driving efficiency. From automatic reminders to employees and their supervisors, to enrollment tracking and training reimbursement request handling, through an automated approval workflow, a dedicated learning management solution can generate a rapid and significant return on investment.   

Promotes consistency

With formalized training, you can be certain that vital functions and tasks are taught in a consistent, precise manner, ensuring that all employees receive the same information. You can of course develop your own training in house, but most organizations rely at least in part, on professionally-produced training courses. Depending upon the specific training provided, the value of such consistency may vary from improved productivity to reduced liability for the company. 

Streamlines compliance

From sexual harassment awareness training, OSHA-mandated safety training, through business ethics – it’s not just that proper training is the right thing to do, training protects your company from potentially devastating law suits and fines. A learning management solution helps ensure employees (and you as the employer) are in compliance with job requirements and the law. The software can track certification expirations, courses due, and notifications and accreditation requirements, helping maintain strict compliance and protecting both you and your employees. 

It makes financial sense

Increased revenue is a common goal across many organizations, and investing in employee training to support that goal makes financial sense. For example: 

  • The Cheesecake Factory invests an average of $2000 annually per employee on training. The chain enjoys sales of $1000 per square foot, almost double the restaurant industry average. 
  • Payroll provider ADP coaches some sales associates on managing virtual teams and time management. Those that participate had an average of seven percent growth in sales. 
  • Motorola has found that every dollar invested on training can yield as much as a 30 percent gain in productivity within three years, which has helped them cut costs by $3 billion and increase profits by 47 percent. 

For more in-depth tips on taking employee learning and development to the next level, check out our Best Practices Guide – 3 Steps to Achieve Talent Development that Drives Organizational Success

 

Tags: LMS, learning management system, Employee Training, employee development, learning management solution, talent development

Succession Planning: The Core Issue of Leadership Failings

Posted by Mark Jackson on Wed, Mar, 22, 2017 @ 10:03 AM

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An organizational succession plan should always have a plan B. It is one of the biggest problems for any business and a core issue for leadership. Succession planning is like an insurance plan for the survival of your business. So it stands to reason then, that if you don’t have a succession plan, you can’t ensure that your business will survive after your resignation. The good news is, it’s never too late to start the development of a succession plan. All you and your team have to do is answer a few questions and write the plan to set it in motion once it’s needed.

Succession planning was recently identified as one of the top three immediate HR issues that needed to be dealt with (Bersin and Associates). It’s no easy task however, and as it becomes a higher priority as Baby Boomers enter retirement (3.6 million baby boomers were expected to retire this year) it’s of growing importance to be able to answer these questions. 

  1. How many people will be leaving the organization - both voluntarily and involuntarily - over the next 5-7 years?
    The youngest Baby Boomers turn 50 this year and are preparing to retire. Your organization has to be ready for the retirement or removal of key players to the team. The maturing age group makes up 13% of the American population, and that could mean a large percentage of employees retiring from your organization.

  1. What skill sets will those employees who are leaving take with them?
    In preparation for several key members to leave the organization, understand what their positions are. Detail job descriptions accordingly so the team can adjust functionally and culturally for the impending change.

  1. Will we recruit externally or promote from within to fill those gaps?
    A vast majority of organizations - 77% of them - realize the significance of internally recruiting candidates for promotion. However, even though so many understand this key fact, 54% do less than one-third of their recruitment from within the organization. Take into account the financial responsibility of committing to an external recruitment plan and if that’s a risk your organization is willing to take. While internal recruitment strategies may save the budget, external recruitment can bring life and fresh ideas into the office.

  1. What’s going on outside the organization that could affect my ability to recruit the employees we need?
    Pay attention to economic and employment trends. Mass layoffs and the size of college graduating classes are just two examples that can have an impact on how your team formulates a recruitment strategy.

  1. Where is the supply of candidates going to come from?
    Your career page, job boards, and social job advertisement all have a part in recruitment strategies. What do they have in common? They are all on the internet. Online recruiting can save companies as much as 50% in cost-per-hire.

  1. Where will our company be in 3-5 years, and what does that mean for the type of people we will need to recruit?
    Projecting your organizational needs as well as employee needs can help decide the future of your team. This can help your recruitment team determine which niche job boards it will be best to post job openings to. 

  2. What type of training opportunities do we need to provide to ensure our current employees develop the skills we need?
    As the Baby Boomers enter retirement, the Millennials are entering professional employment. That means, your organization will need to prepare the training programs set in place appropriately. Because 40% of Millennials are interested in careers that allow for growth and accomplishment, training programs need to determine a career path.

Now that you’ve asked all of these questions, do you have a backup plan? Your succession plan is dependent upon how thorough the questions are answered so your organization can be prepared from A to Z when a key team player leaves the company. Give your team the tools they need to keep the organization thriving as Baby Boomers retire. They have big shoes to fill and with a succession plan, it will be much simpler for your team to compensate for any gaps in the team.

To learn more about developing an effective succession and career pathing process check out our Best Practices Guide-

"3 Steps To Achieve Talent Development That Drives Organizational Success"

 

Tags: Leadership, Succession Planning, training management, talent development, recruiting strategy, career pathing

6 Benefits of Using a Quality Learning Management System

Posted by Sean Pomeroy on Tue, Nov, 22, 2016 @ 08:11 AM

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Some tasks require that you have the right tool for the job. Training management is one of them. The right tool for the job: a quality learning management system.  

Below are six benefits of using a quality LMS that combined work to minimize headaches, maximize engagement and maximize results. 

1. The LMS provides a centralized, on-demand location for corporate learning and training. There’s one place to go, whenever you want, no matter your role.

2. The LMS lessens the burden on all involved in the process (HR, training managers, supervisors, employees). Your HR team won’t have to juggle a dozen spreadsheets in an attempt to manage the process. Also, all parties can see the status of training activities that are relevant to them (e.g. HR can see status for all employees, individual employees can only see their own status).

3. Delays and mistakes in the process are severely reduced. Automated approvals and notifications streamline and provide direction in your learning process, and improve communication between all parties.

4. Compliance is improved. For jobs that require certification, automatic notifications of upcoming certification expirations are sent to employees, supervisors and training managers. These notifications include courses due and accreditation requirements.

5. Superior employee learning/training experience. A well-run process helps keep your employees enthusiastic about talent development—supporting a culture of learning—while a poorly run process irritates and frustrates. 

6. Self-service learning empowers employees. As noted in Deloitte’s 2016 Human Capital Trends report, employees increasingly want to take control of their own learning. A quality LMS includes self-service training that lets your employees develop skills that they believe will help them be successful.

A quality LMS is just one key part of successful talent development. For a comprehensive look, download our article “3 Steps To Achieve Talent Development That Drives Organizational Success.” 

 

Tags: training, LMS, learning management system, Employee Training, learning & development, talent development, HR, scorm compliant, cloud based lms

5 Actions That Set Up Your Talent Development For Success

Posted by Mark Jackson on Wed, Nov, 09, 2016 @ 08:11 AM

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Talent development is an intensive and complex process that is worthwhile, if performed effectively, because of the great results you can achieve— reduced turnover, improved productivity, improved succession planning, etc. 

To accomplish these goals, you need to set up your talent development for success. Otherwise you’re program likely will be saddled with confusion, frustration and a lack of focus. Below are five actions to take. 

1. Define the required competencies for each job (e.g. soft skills, technical skills, level of experience) through a benchmarking process.

This is critical for knowing which training materials to create and/or purchase, and to know which employees should be given which training. 

2. Acquire quality, thorough, and relevant training and learning materials.

Whether created internally or from a service provider (e.g. OpenSesame), the quality of your materials has a direct role on the quality of the training—and on the results you achieve. 

3. Use a quality learning management system (LMS) to help you organize the process.

An effective talent development program requires a smooth, efficient process. The process is complex enough that it’s virtually impossible to run well without the help of technology—a learning management system. A quality LMS allows HR, employees, supervisors and training managers to know the status of training activities that are relevant to them, so everyone knows what to do. For example, HR can see the status for all employees, individual employees can see their own status. 

4. Use assessments to identify the skills and competencies employees have, and areas that need improvement.

Assessments show employees’ strengths and weaknesses in key areas, making them great tools for determining the skill and competency areas individual employees need to develop. In other words, assessments help you guide employees’ training for maximum benefit of both the employees and your organization. 

5. Create specific, reasonable goals for talent development efforts.

While these can and should be adjusted over time, having goals gives you a measuring stick for determining if your results are satisfactory or not—and if significant adjustments are needed. 

As you move forward with your talent development program, it’s important to evaluate your results for each of these actions. Have you determined the right competencies for given jobs? Are you training and learning materials of high quality and aligned with job requirements? Is your LMS working for you? Are your assessments helping guide employees’ training? Are your goals reasonable, or should they be adjusted? 

The great thing is, if you get these five actions right, you’ll be on a path to success. Of course, there’s much more that goes into talent development. For a guide that details the keys for successful talent development, download our article “3 Steps To Achieve Talent Development That Drives Organizational Success.”

Tags: training, employee engagement, Employee Training, learning & development, talent development