Hopefully, it’s evident that one of the primary reasons companies spend time and resources on learning and development is to develop and improve the skills of their workforces. While that may be the most obvious benefits of L&D programs, there are numerous ancillary benefits that are often overlooked.
One of the biggest ancillary benefits of investing in employee development is that employees appreciate the investment. They see it as a sign that their organization values them and that they have room for growth within the company.
“Consider a high-performing sports team where every player feels valued and has opportunities to grow—these athletes are more likely to stay and perform their best,” says Brent Gleeson in an article for Forbes. “Similarly, employees who have access to training opportunities report higher job satisfaction and are more likely to stay with their employer – also known as increased retention! With 68% of workers viewing learning as an essential part of their job, providing avenues for growth cultivates loyalty and reduces turnover, helping companies retain their top talent.”
While a lot of training focuses on addressing skills gaps, there’s also significant effort put into training as a response to changing circumstances, whether those involve new regulations, novel technologies or evolving consumer preferences.
Employees accustomed to such training are wired to learn, adapt and grow in the face of new challenges, and that’s a trait that’s essential in a dynamic business environment.
Teams that train together, learn together and train each other form strong bonds that help with teamwork and collaboration more generally. “Shared learning experiences foster unity,” writes Gleeson. “In high-performing companies, like those featured in Harvard Business Review’s studies on leadership, collaboration is a natural byproduct of well-implemented development programs.”
While learning and development programs are designed to enhance workforce skills, their benefits extend well beyond skills acquisition. L&D investments boost employee engagement, foster adaptability to change, and enhance teamwork by building bonds through shared learning experiences.
Companies that prioritize L&D not only cultivate a more skilled workforce but also enjoy greater retention and a collaborative, resilient work environment that’s well-equipped to navigate evolving industry demands.
Lin Grensing-Pophal is a Contributing Editor at HR Daily Advisor.
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