Employee engagement levels in 2022 are the lowest they’ve been in nearly a decade. The news is being peppered with thoughts on quiet quitting and a pending recession. Employees are seeking higher pay, better benefits, and a more inclusive company culture. There are so many changes on the horizon that are playing out before our eyes. Changes that are likely to impact our organizations heavily in the new year.
So, what are the top trends and tools that will impact L&D and allow teams to overcome these challenges? Today we’re going to take a high-level look at just a few.
L&D Trends for C-Suite Members to Focus On
Upskilling & Reskilling
With every industry struggling with retention and recruitment right now, learning and development opportunities help engage, excite, and create internal movement.
A recent LinkedIn Learning report shared that “Companies that excel at internal mobility retain employees for an average of 5.4 years, nearly twice as long as companies that struggle with it, where the average retention span is 2.9 years.” If you invest in opportunities to upskill and reskill for that internal movement, your retention rates will soar, saving more to put toward your bottom line.
Not to mention, those teams that innovated the most during the recession in 2008-2009 outperformed market averages by 30%. So, if you absolutely must when market conditions dictate, you’ll be able to shift and innovate much more easily.
Budgeting for L&D Impact
Teams everywhere are dealing with labor shortages. While the impending recession has companies worried about expenditure, it’s crucial to business success and attraction of top talent that L&D budgets stay intact. The spending power in L&D reached a six-year high this year. Leaders see and understand the value of investing in their team’s growth, personally and professionally. And those that continue to invest are the ones who will make it out stronger.
L&D Trends for Managers to Focus On
Social Learning Opportunities
Almost ¾ of remote workers have shared that they miss opportunities to socialize with coworkers. When you pair learning opportunities with a chance to bond with team members, magic happens. The creative juices start flowing, support and trust are built, and the camaraderie leads to a more engaged team.
Work on cultivating group coaching or learning opportunities that your team can participate in together at every level.
Building Culture via L&D Opportunities
Investment in company culture has proved to be incredibly important throughout the shift to this new world of work we’re navigating. Employees are seeking organizations that are investing in their development, not just the organization’s bottom line.
However, with that said, according to Forbes, companies with strong cultures have seen their revenue growth increase by 4x. Investing in a culture of learning that attracts and engages employees is a win-win for your department, team, and organization!
L&D Trends for Employees to Focus On
If your team members struggle with long training videos, it could be time to provide bite-sized pieces of information! The newest trend in L&D is microlearning.
Microlearning is short-form video that offers sub-10-minute videos to train on certain skills or topics. It’s been proven that these types of training opportunities are more effective in terms of retention.
One option could be to provide these short videos to your team, then pair them with a 1:1 coach to develop what they’ve learned in the video. By pairing real-time work scenarios with microlearning opportunities, you’ll cultivate deeper comprehension and mastery!
Surging Skill Set Building
What are the most in-demand skills in business right now? And does your team have them? These are questions that you need to be examining. Ensuring your team has these surging skills will ensure you’re remaining competitive in the marketplace and rising above your competitors.
Some of these top skills for 2023, based upon what teams have been learning online most frequently, include:
- Customer experience management
- Business communication and non-verbal communication skills
- Salesforce expertise and management
- Project management
If your team is lacking in any of these areas, you can cultivate programs specifically catered to developing these important surging skills.
Want to Discuss L&D Implementation for 2023?
If you’re ready to invest in learning and development in 2023, let’s chat! The NimblyWise team is ready to serve you as you and your team in the new year.