Employers chose to neglect L&D at their own risk, according to a new report
There’s a gap between how leaders effectively manage their team’s learning and what they actually offer their employees, according to a new report from Degreed.
According to the How the Workforce Learns 2023 report, nearly 70% of employees feel that their managers care about them as a person and their career growth, yet over a quarter of employees globally (26%) felt that their manager didn’t meaningfully support their professional growth over the past 12 months.
And, for employers that choose to neglect L&D, you can expect to see a tidal wave of resignations.
“Post-pandemic we have several economic, technological, and societal changes that are impacting both the employee/employer relationship and the motivations for people to grow their careers,” says Janice Burns, Chief Transformation Officer at Degreed.
“Concerns around the global recession, budget cuts, and job losses have encouraged people to develop skills that help them do more with less - be that, fewer resources, or a smaller team - to be more attractive to their employers and in the job market, and to broaden their career prospects.
Technological advances in AI, automation, and, of course, ChatGPT, have fundamentally altered the skills mix for all employees. Seemingly overnight, entirely new skills and career trajectories were created when ChatGPT became mainstream.
“It’s a dizzying task to keep up with all the changes and all the skills needed to succeed in the future,” says Burns. “ChatGPT is a great example of the disruption even more advanced AI and automation will bring to roles and it really brought home to many employees how urgently they need to upskill and reskill to remain employable.”
Despite the employee desire to reskill and upskill, just 34% of employees say their manager is recommending learning resources to them – furthermore, only 31% say they were offered practical opportunities to stretch skills and reinforce learning.
“Savvy employees understand that the skills they have today will only serve them for a limited time,” adds Burns. “The best employees are continuous learners, because skills have a dwindling half-life that’s under pressure from advancing technology, economic and market shifts, and other external factors.
“Personal growth isn’t just important because we’re in the long tail of recovering from the pandemic, but because of everything that faces organizations and employees in the future.”
It’s about striking that balance between creating a positive learning environment and managing future business needs. And, according to the report, organizations that walk that line will see a rise in retention, employee satisfaction and overall morale.
“Providing employees with learning opportunities is part of the answer to retaining them for longer and improving their morale,” says Burns.
“However, this learning needs to be autonomous, personal, and aligned with their interests and career goals. It cannot be mandated from the top down, because that strips away the control an individual has over their growth and career journey. Instead, make learning a collaborative process, hitting the balance between what skills your business needs and what an individual wants to learn.”
