In the last few years, most businesses have been forced to adapt to the ever-changing market conditions and accordingly adjust their feet in the new environment. Organizations were bound to learn about managing their business virtually- from upskilling and reskilling their workforce to virtual employee onboarding and training on staying motivated and productive. Everyone contributed towards meeting these business goals and unlocking success, but the crux of all resided in the Learning & Development (L&D) teams.
In 2023, L&D teams focused on having a more outcomes-driven and strategy-led mindset to deliver effective managed learning services. In 2024, learning leaders actively use their influence to ensure the alignment of people and business strategies. This year, the primary areas of focus for L&D teams include:
- Aligning learning programs with business objectives.
- Enhancing employee skills through upskilling initiatives.
- Fostering a culture of continuous learning.
- Improving employee retention.
According to LinkedIn’s 2023 Workplace Learning Report, the outlook for the 2023 budget seems relatively positive, possibly due to the high potential impact of L&D. Although the current year’s budget has decreased slightly from the previous year’s peak, it still ranks as the third most optimistic outlook in the seven years of monitoring. Additionally, only 8% of L&D professionals anticipate a decrease in their budget.
Focusing More on Managing a Hybrid Workforce
In 2024, as highlighted by the GITNUX MARKETDATA report, where 80% of businesses intend to implement a hybrid work paradigm, L&D teams must continue their emphasis on managing a hybrid workforce. The goal remains to ensure productivity, upskilling, and connectivity among employees. Additionally, innovative strategies are essential to adapt to evolving business priorities, navigate workforce transformation, and identify the skills needed to thrive in the impending hybrid future.
Reviving L&D Strategies to Counter the ‘Great Resignation’
The main reason behind the great resignation is employees’ lack of motivation and involvement, negatively impacting overall job satisfaction and employee well-being. According to the Job Openings and Labor Turnover Survey (JOLTS) released by the U.S. Bureau of Labor Statistics, the trend of the “Great Resignation,” characterized by a substantial number of U.S. workers voluntarily leaving their jobs, persisted in February 2023, with over 4 million workers quitting.
This figure slightly decreased from the number of quits observed in January 2023, which had fallen below the 4 million mark. These numbers resulted in increased resignations, making organizations rethink their L&D strategy to engage and retain the desired talent.
L&D teams will play a pivotal role in addressing the great resignation. They will need to rethink their strategy to boost engagement and retention, ensuring the well-being of every employee.
Using Data to Measure Employee Productivity
Traditionally, it was easy for L&D departments to assess workforce performance and business efficiency via in-person interactions. Adopting the remote-first and hybrid culture, L&D professionals need robust tools to monitor employee productivity, skills, and overall business impact.
Productivity and skills and overall business impact. Backed by advanced analytical tools to train and upskill remote teams, L&D leaders can collect accurate data to improve workforce skills, assess training impact, unlock employee performance, and measure business success.
Fostering a Mindset to Improve Workforce Resilience
Organizations must collaborate with managed learning service providers to build a more resilient and agile workforce. They need a mindset to focus on employee upskilling and reskilling to drive business success. Here, optimism is critical for L&D teams to build a resilient workforce.
By adopting a cognitive restructuring approach, L&D leaders must encourage their teams to stay optimistic by avoiding negative thinking and shifting towards positive thought patterns. In the current scenario, L&D is equally important in improving workforce resilience by identifying skills that match business requirements and relate to higher productivity levels.
The Final Word
The increasing role of L&D will aid organizations in striving forward during this current period of ambiguity. With a greater focus on employee upskilling, dependency on data for L&D decisions, and cultivating a hybrid workforce, L&D teams will stay at the forefront in bringing strategic changes in 2024.
Learning professionals have agreed over the last few years that L&D shifted from a ‘nice-to-have’ to a ‘need-to-have.’ Infopro Learning can help your organization build a perfect operating model to improve managed learning services. We can help your organization build a perfect operating model to improve your L&D initiatives via managed learning services.
Download ‘Building an Effective Operating Model for Digital Learning,’ a collaboration between Infopro Learning and Fosway Group, to help you develop an effective model for digital learning in the corporate scenario.
