CFO asks CEO: What
happens if we invest in developing our people and then they leave us?
CEO: What happens if
we don’t, and they stay?
[Source: peterbaeklund.com]
During times of fiscal
restraint, why should companies care about investing in their employees? In a
2012 interview for Forbes Magazine, Diana O’Brien, managing principal of Deloitte
University, demonstrated the value of
workplace training programs and their potential to contribute to a company’s
long-term success. O’Brien discussed the importance of investing in people in
order to keep up with the changing demands of the global economy, increase workplace
productivity, retain talent, strengthen the culture of the company, nurture
innovation and creativity, and improve customer relations.
Workplace learning
and development is not only for large corporations—it can also drive better
results for small and medium-sized businesses (SMEs). Research on Work-Related
Learning in SMEs conducted by the Conference
Board of Canada in 2011 discussed five
pressures felt by SMEs.
Workplace learning
and development can alleviate these pressures and help your business:
1.
Globalization.
To remain competitive on the global level,
your organization can improve productivity and foster innovation through
workplace training.
2.
Keeping
Up with a Knowledge-Based Economy. A
knowledge-based economy means that there is a direct relationship between the
quality and quantity of knowledge and skills in your organization and its success.
3.
Addressing
Skills Shortages. Workplace learning addresses
skills shortages that occur due to cyclical pressures and structural changes in
the economy.
4.
Mature
Workforce. The baby boomer workforce of the western
world is heading into retirement. Investing in learning programs in your
organization will help ensure that expertise and organizational memory are not
lost, but are effectively transferred to younger employees.
5.
Getting
the Best out of Diversity. You can meet your need for
skilled and knowledgeable workers at least partially by hiring skilled and
educated immigrants. As your enterprise becomes more diverse, workplace learning
can help increase cultural awareness and promote diversity as a strategy.
Investing in employees
will yield positive long-term results. By empowering your people with knowledge
and skills, and fostering a positive work environment, you will create a
workplace that will have the power to grow and sustain itself within an
ever-changing environment.
The Learning Nut would love to hear about your experience
with workplace learning and development! Comment here or find us on twitter @FocusFit2007
Stay tuned for The
Learning Nut’s next post: How to implement a successful training and
development program in your organization.
Guest
contributors for this post: Jenny Papadakis and Lisel Douglas.
Works Cited
Quast, Lisa. (2012,
May 14). Want your company to succeed in the future?Invest in employee skills training like Deloitte LLP.
Forbes. Retrieved from http://www.forbes.com/sites/lisaquast/2012/05/14/want-your-company-to-succeed-in-the-future-invest-in-employee-skills-training-like-deloitte-llp/2/
Hughes, P. D.,
Stuckey, J., The Conference Board of Canada
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