Article: Leaders on ‘the most important ingredient’ to thrive in the modern economy

Learning & Development

Leaders on ‘the most important ingredient’ to thrive in the modern economy

With employee retention the number #1 challenge in every organisation, leaders share how L&D programmes can have a trickle down effect improving essential aspects of HR
Leaders on ‘the most important ingredient’ to thrive in the modern economy

Since the pandemic and the onslaught of the War for Talent, organisations have been investing heavily in learning and development programs, more so now in the skill-based economy. But the return on these investments have often been unclear with many L&D leaders losing sleep over it. The question plaguing their minds about the changing landscape includes: What do these programs really accomplish? Do they really skill an employee in a meaningful way? Do these changes really last and if so, for how long? 

One of the many hurdles L&D leaders have often voiced out is the evaluation of a new program where the program evaluators have been quick to offer good reviews, offering the employer the illusion that it actually works whereas employees don’t feel that way. 

There is also an innate dilemma among managers if each employee is able to gain the same benefits from the learning and development programs and if so, how many are actually putting it into practice. While the challenges are many, one thing that’s for sure is offering learning opportunities has indeed proved to improve retention. And with 93 per cent organisations concerned about employee retention according to LinkedIn 2023 Learning Report, we hear some of the dynamic views of leaders about the benefits of robust learning and development programs that upskill an employee, help them navigate the evolving world of work, offer them opportunities for internal mobility, build a culture of learning and help them feel motivated and empowered, which ultimately leads to better engagement. 

For Nate Lovitt, Learning and Development Manager - APAC, Mintel, the way ahead for organisations to become ‘the employer of choice’ is simple: Offer L&D programs for leaders and employees that not only focuses on hard skills but soft skills as well and new hires will be eager to join you and existing employees wouldn’t wanna leave you. 

In recent days, ChatGPT, a natural language processing tool that uses artificial intelligence to generate human-like responses to written or spoken prompts has been used by many to solve their personal and professional problems. And Rosie Cairnes, an expert at GLG feels that if AI is fused with blended learning in organisations, it can be an essential tool for employees working in the hybrid model. 

The one-size-fits-all approach has been displaced today by personalisation with every employee looking for that one aspect in everything at work. Wing On Lee, Professor and Executive Director, Institute for Adult Learning believes that while every organisation and industry is going through a trial-and-error phase to see what’s working best, more and more organisations should collaborate so as to find the best practices together. 

Driving an important point which many organisations miss out on is thinking of a learning program as a one-off module and not a continuous journey. Andy Molinsky, Organisational and Cross-Cultural Psychologist, professor and author adds that programs should be led by experts with the domain knowledge, so as to reap the most benefits. 

For Dr Summer Salomonsen, VP Content Product, Cornerstone OnDemand, learning will always be at the forefront in any organisation as it is the grounds on which innovation, productivity, engagement and creativity takes place. 

As we see more and more employees hopping from one company to another looking for better career development opportunities, Steve Bennetts, Head of Growth & Strategy - Employee Experience Solutions - APJ, Qualtrics strongly urges every organisation to look at individual growth chart. Coz at the end of the day, everyone wants to build themselves and shine. 

For Brandon Carson, VP, Global Leadership Academy, Walmart, continuous learning shouldn’t be an individual or managerial goal, but an organisational goal to create a future-ready workforce that can navigate the disruptions. 

In the end, Ekpedeme "Pamay" Bassey, Chief Learning & Diversity Officer, Kraft Heinz shares that a culture of learning is a key differentiator and organisations that invest in L&D will see the results, if not in the immediate future, then soon enough. 

While some of these leaders have been our keynote speakers for our past L&D conferences, find out who are the new speakers who will be a part of People Matters L&D Singapore 2023, bringing in insightful case studies and best practices to light. Join us on April 13 at Fairmont, Singapore to understand the many ways L&D is helping organisations achieve their full potential. With only a month to go, register now. 


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Topics: Learning & Development, Leadership, Culture, Strategic HR, #PMLnDSG

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