At the start of the year many organizations were planning on investing heavily into their corporate training programs for improved human capital management and to increase employee productivity. However, with recent events and the outbreak of Covid19 many organizations had to go through a rapid transformation and the plans they had for employee development no longer fit their current goals. Investing in training and development is even more important now that there have been so many changes to the current way we work. To help you determine which investments make sense for you we have shared some of the top investments that will help you steer through change and transform your human capital.
Develop a comprehensive employee onboarding program
One smart way to invest in employee learning and development that will make an impact is by creating a high-quality employee onboarding program. The best onboarding programs provide value to your organization in more ways than one. A positive onboarding experience can make a great first impression on new hires improving your company culture and employee retention rates. Having a quality onboarding process can also improve employee productivity. In fact, organizations with standard onboarding processes experience 54% higher employee productivity than those who do not.
Make training and mentorship a high priority
Developing and implementing an employee mentorship program is another way you can invest in human capital transformation and receive a large return on your investment. This is especially true for mentorship programs that focus on the training and development of leaders.
Much like onboarding, mentorship can improve your company culture. Mentorship programs work well in blended learning programs. Many organizations blend mentorship into their onboarding and leadership development programs. This way employees can participate in other forms of training and will be able to ask questions and receive additional support from their mentor ensuring a positive learning experience.
Utilize technology and data to make informed decisions
Another great way to get the most out of your employee training programs is by investing in the right tools to track and monitor employee data. This can be done with a learning management system or with an advanced learning analytics program. The reporting capabilities of these programs can help your identify patterns you can use to optimize your training program.
For example, you have several different courses for employee development. The analytics report can give you insights as to which programs and content delivery methods provide the highest employee engagement. It can also be used to identify any potential issues in the program.
Level up your HR department With Chatbots
As HR functions expand and they take on more advisory services in your organization their workload will also greatly increase. This can lead to slower response times to employee inquiries and less time for larger l&d projects such as employee training development.
Investing in a chatbot is a great way to begin your HR transformation. HR chatbots can answer simple and common inquiries your employees may have. They can also provide forms or point employees in the right direction in order to find answers to more complicated questions. Organizations who implement an HR chatbot have found that it greatly improved employee satisfaction and the efficiency of their HR department.
Outsourcing to a Managed Learning Services Company
If you are like many other organizations who are investing in employee development and have many large projects in the pipeline you may want to consider outsourcing with a managed learning services partner. This is also an investment worth considering even if you are already partnering with several vendors.
A managed learning services partner will increase the speed of development as well as the quality of the learning experiences you are providing. These partners can help align your projects, find opportunities to cut cost and know which training programs and strategies will be the most effective.
Final Note
As organizations undergo ongoing changes to adapt to the current economic landscape, investing in training and development is only becoming more important. Investments in employee development that help you streamline the training process and improve employee experiences such as the five strategies that were shared in this article will assist you in transforming your talent so they an reach their full potential. These investments will also help your organization to better navigate change and increase employee productivity.
To learn more about how you can invest in human capital transformation to navigate through change watch the webinar replay Using the New Normal to Create a Competitive Advantage
