HR Exercise
Learning & Development
©2021 Egen , Inc. All Rights Reserved.
Index
Significant Components of Learning & Development (L&D) Strategy …………………. 3
5 Areas of L&D’s Strategic Role
…………………………………………………………. 4
8 Key Considerations for a Successful L&D Strategy
……………………………… 5
Implementation/Execution Plan ………………………………………………………………. 7
References ………………………………………………………………………………………… 8
©2021 Egen , Inc. All Rights Reserved.
Significant Components of Learning & Development (L&D) Strategy 3
• Current business industry is rapid, challenging and constantly expanding.
• Management leaders need the skills to face emerging situations, ensuring that employees are able to successfully
meet the challenges of their jobs and aligned with the business goals of the organization.
• These rising complexities elevated the significance of Learning and Development (L&D) strategies. An empowered
L&D management improves employee retention and provides a direct impact on the organization’s bottom line. A
good L&D strategy includes executive training, so their leadership skills are continually sharpened.
• To capitalize investments in training and development programs, L&D executives must embrace a comprehensive
position within the organization and formulate an ambitious vision for the function.
• The primary objectives of L&D are to manage the development of people and to do so in a way that
supports other crucial business priorities.
5 Areas of L&D’s Strategic Role 4
1. Attract and Retain Employee - Traditionally, learning concentrated completely on perfecting productivity. Today, learning also contributes to employability. For
many decades, employment has shifted from staying with the same company for a continuance to a model where employees are being retained only as long as they
can add value to an organization. Employees are now in charge of their particular and professional growth and development and this is one of the top criteria for
joining an organization. Again, a lack of L&D is one of the crucial reasons people cite for leaving a company.
2. Develop People Capabilities - Human capital requires ongoing investments in L&D to retain its value. When knowledge becomes outdated
or forgotten the value of human capital declines and needs to be supplemented by new learning and applicable work
experiences. Companies that make investments in the upcoming leaders are seeing magnificent returns. Exploration indicates that organizations in the top quartile of
leadership outperform other organizations by nearly two times on earnings before interest, taxes, depreciation and amortization. Also, companies that invest in
developing leaders during significant changes are 2.4 times more likely to hit their performance targets.
3. Produce a Values-based Culture - As the workforce in numerous organizations becomes increasingly virtual and globally dispersed, L&D can help to make
values-based cultures and a sense of community. In particular, millennials are particularly interested in working for values-based, sustainable organizations that
contribute to the benefits of society.
4. Make an Employer Brand - An organization brand is one of its most important strengths and conveys a great deal about the company’s success in the industry,
financial strengths, position in the market and products and services. Investments in L&D can help to enhance the company’s brand and boost its standing in the
industry. As large parts of the workforce prepare to retire, employers must work harder to contend for a shrinking talent pool. To do so, they must communicate their
brand strength explicitly through an employer value proposition.
5. Motivate and Engage Workers - The most important way to engage employees is to give them chance to learn and develop new capabilities. Research
suggests that lifelong learning contributes to happiness. When superior engaged employees are challenged and given the talent to grow and develop within their
chosen career path, they’re more likely to be amped by new opportunities at work and satisfied with their current workplace.
8 Key Considerations for a Successful L&D Strategy 5
1. Alignment with Overall Business Strategy - Ensure that your learning and development strategy is aligned with an overall business strategy because your
organization’s learning and development requirements are unique. For example, if your organization has placed a priority on brand marketing strategy, ensure to
incorporate marketing courses into your L&D strategy. The design if your organization development must be harmonious and anchored towards your long-term
business strategy.
2. Organizational Priorities - Make your learning and development strategy an organizational priority. Seniors should be suitable to drive their professional
development and be rewarded acceptable budget, resources and support. The career development of senior management must be one of the main priorities.
3. Resource Use Considerations - Include this L&D strategy to produce an effective professional training package as well a leadership development programs.
Consider whether you’ll have better returns from in-house training courses and workshops or if you can make better strategic use of resources by penetrating business
classes at top business institutes. The former may offer advantages, ultimately enabling you to tap into leading-edge business skills. A blend of both may prove to be
the winning L&D Strategy.
4. Internal Stakeholder Assessment - Conduct an internal stakeholder assessment to identify stakeholders and understand what they want from your L&D
strategy. Gain buy-in by making them a part of the employee training and development process. Consult the marketing team to know and incorporate their L&D
requirements.
5. Availability of Corporate Learning Tools & Techniques - Consider the perfect corporate learning tools and techniques within your L&D strategy. Today’s
efficient tools for integrative corporate learning include leadership exercise, leadership coaching, guided case study analysis, flexibly balanced distance and real-world
learning in global business hot-spots.
8 Key Considerations for a Successful L&D Strategy 6
6. Employee Recruitment and Retention Rate - Do not forget that employee recruitment and retention are interconnected and that learning and development
programs should contribute to these as part of your value proposition to employees. Ensure that the expected impact on recruitment and retention is set out in your
L&D strategy.
7. Future Requirements - Consider the future of your L&D strategy. As learning and development requirements and management training tools and resources
evolve, so should your L&D strategy. Make your management development goals and improvement goals into your learning and development strategy.
8. Enabling of the 70:20:10 Learning Framework - Many L&D strategies embrace 70:20:10 framework in which 70 percent of learning takes place on the job,
20 percent through socializing and collaboration, and 10 percent through formal-learning interventions. Today, L&D leaders must design and apply interventions that
support informal learning, including coaching and mentoring, on-the-job instruction, internships, leadership shadowing, action-based learning and on-demand access
to digital learning sessions. Social technologies play a growing part in connecting experts and creating and sharing knowledge.
Implementation/Execution Plan 7
Phase 1 - Establish Strategic Goals Phase 4 - Create Curriculum
Define successful outcomes for employee and organization Create a blended learning approach that makes development easier for
employees.
The L&D strategies that could be recommended for Egen solutions are:
Phase 2 - Determine Learning Needs • Use 70:20:10 framework
Establish organizational needs, now and future • Tools and Techniques (Learning for solid AI presence)
• Set organizational priorities
Phase 3 - Develop Framework
Identify your learning goals and plan for achieving them. This plan should include:
• Knowledge and skills according to the job function, pay band, or technical skills
area. Key Factors
• Communicate
• Policies requirements
• Using a phased implementation approach
• Evaluation strategy (budget planning and advocacy for the resources)
• Consider your timeframe
• Implementation Plan, prioritized
• Measure, measure, measure!
• Creating learning tracks or certification plans
• Keep it Agile
• Required resources (e.g: tools, instructors, multimedia, facilities etc.)
References 8
• https://
www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/the-essential-c
omponents-of-a-successful-l-and-d-strategy
• https://www.imd.org/imd-reflections/reflection-page/learning-and-development-strategy/
• https://www.fmpconsulting.com/creating-learning-strategy-gets-results/
