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Importance and elements of a successful L&D strategy

As the world is celebrating International Literacy Day today, we must know what’s significance. World Literacy Day is observed to spread awareness about literacy, promote good quality education, and develop people’s skills to learn and be employable in the outside world.

This makes us write this article on the importance of focus on enhancing the capability of the employees by the organisations.

To retain the value of Human capital, the organisations need to keep make ongoing investments in L&D.When knowledge becomes outdated or forgotten, the value of human capital declines and needs to be supplemented by new learning and relevant work experiences.Companies that have L&D on their priority list see remarkable returns. Hence, it becomes very important to identify the need and create a framework that involves every learning aspect starting from setting aspirations to measure the output.

Today, most companies have such learning frameworks, but there are few which exhibits remarkable L&D strategies.

Amazon, AT&T, SAS, Etsy are few such names.With an L&D strategy in place, you can empower your organization, create avenues for closing skill gaps, and enhance the capabilities of your workforce.

Here are few points from People Dynamics to reshape or improve you and function:

1: Provide self-training opportunities

Many organizations provide employees with internal online learning options. These programs are choice-based and can be done as per the pace of the employee’s choice. This allows employees the freedom to drive their careers, learning the skills and knowledge that are both valuable to them and the company as well.

2: Try to offer tuition assistance

Companies that offer education assistance, such as tuition reimbursement or discounted packages with affiliated institutions have better employee retention, talent acquisition, and brand equity. Especially for companies where employee turnover is high, tuition assistance can help improve retention and lower future training costs.

3: Have an internship program

Perfectly designed internship programs can work as a streamlined talent funnel for your organization.

4: Create Peer-to-peer learning opportunities

Create programs where employees teach other employees. This will not only help with expanding knowledge, but it also provides a great opportunity for new & young employees to understand your company values and culture much better.

5: Have programs to learn from top leaders

Employees always look up to their leaders, and always look for opportunities to fine-tune their careers with their guidance. Create opportunities, where employees get a chance to interact and learn from leaders. These experiences are monumental for employee personal and career development

As we observe International Literacy Day today, we must know the significance. Learning is an ongoing process and as an individual we all must look for ways to improve and upgrade ourselves. Organisations should also have a structured Learning & Development strategy in place, to improve employee skill sets. Here is an article from experts of People Dynamics on how to improve your L&D

strategy. Have a look. Get connected with us : www.ppldynamics.com

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