It has been estimated that US companies spend over 90 billion dollars on training expenses. That is a vast number taking into consideration the fact that the talent gap is growing and not lowering.
Unfortunately, experts say that this gap won’t be closed anytime soon. It will continue to grow. The impact would be tremendous and we’ll see even more significant numbers by 2030.
Not only employers but also employees are impacted. Training and Development are essential in the Tech World, there is no doubt, and at least 50 percent of employees are worried about their technical skills. They are not pleased as their bosses do not usually provide training or growth opportunities. Also, they are often busy with additional job-related responsibilities due to a lack of talent. That decreases the level of productivity.
Brookings Institution suggests something that makes sense. For example, employers should stop focusing on the skill shortage. They have to shift their focus. They have to shift their focus on the learning gap. Improvement of competencies and socio-emotional learning is guaranteed. Everyone should be aware that critical thinking, problem-solving, communication, and creativity can all increase performance. They are indeed desired but hard to find in employees.
Werner Penk also supports this idea. The Korn Ferry Global Technology Market President confesses that most companies are making a huge mistake. They do not equip the next generation with new needed skills. After all, that same generation is needed to fill the holes that high tech roles have.
Surveys all over the world took place as well. The results were terrifying because they revealed a secret everyone was afraid of. Despite the resources that companies give their employees, the learners are not getting the proper train they need.
It is interesting how leaders and employees perceive learning needs, methods, and frequencies. Employees, of course, want training that will allow them to grow further or, in other words, instructor-led training. Some of them do not even have that. They are left to figure it out on their own. Employers, on the other hand, provide them only pieces of training that will benefit them and their business needs.
When it comes to new employees, well, they want to know every single benefit and possible growth they can get in the future. Some, consider the chance to grow to be even more important than their salary.
Policies and changes are not well accepted, as well. Employees say that there are new policies and changes all the time, while employers say that they are only happening on a quarterly or annual basis. That is a huge feud that suggests the need for a redesign of learning programs in companies all over the world.
The voice of the employees is the most critical voice Learning, and Development Leaders should hear! That is how they are going to be able to keep up!
It is interesting how over more than half of senior leaders say that their development efforts are inadequate in building the critical skills and capabilities their company needs. That means that the programs do not match the skills required for growth and improvement.
Of course, employees want to learn and also grow, but it has been clear that businesses do not always provide them proper training and resources. That is why you, as a company, should give a learning environment that will provide all those opportunities.
So far, it is imperative to say that instructor-led training is required. It is known that sometimes budgets are limited, but there are solutions for it as well. You can always create your program that contains different and creative methods. For example, simulations, video, podcasts, boot camps, job- switching, applications, guides, and many many more. Keep your learners interested in every way possible.
To be sure that everything is smoothly working and that you are providing the right training to measure the results. Start SART goals and beneficial outcomes for each training!