10 reasons to have a learning & development plan in 2024/25

Now is the time to move from short to medium term plans 

As we deal with the aftermath of the global pandemic and rising costs for business and individuals alike, its important to recognise that adaptive ways of working and agility in any organisation needs to be an ever increasing focus in 2024.  Your people have embraced change, adapting and innovating because your customers and clients have demanded new ways of delivering your products and services.  

Colleagues are now working in an agile way that has shifted mindsets and increased performance across all organisations.  Many colleagues have prioritised workloads and stopped doing the things that added little or no value.  Operationally a huge number of businesses have moved  to home based working, reducing costly building overheads and maintenance.  

We know that to survive and navigate the next 18 to 24 months we need to hep our clients grow talent from within the business and offer a compelling development pathway which will attract the best and diverse talent from an increasingly challenging market.

Just imagine if you can strategically align you Learning & Development plan to increase your talent acquisition and employee retention then the better you serve your customers, deliver your services and protect your organisation? 

Manage organisational risk

Failing to invest in the learning and development of your staff can pose several risks to your business. Here are some potential consequences:

1. Skill Gaps: Without ongoing training, employees may lag behind in acquiring new skills and knowledge relevant to their roles. This can result in skill gaps that hinder growth and lower productivity.
2. Outdated Knowledge: Industries and technologies are constantly evolving. If your staff don't stay updated on the latest trends and best practices, your business may struggle to remain competitive.
3. Decreased Employee Morale: Employees who feel stagnant in their roles and see no opportunities for growth are more likely to become disengaged and demotivated. Low morale can lead to increased turnover and decreased overall performance.  This means you have to work harder in a market that has an ever decreasing pool of talent as more people decide to leave the job market altogether or decide to change careers for something more fulfilling.
4. Reduced Innovation: Learning and development initiatives often foster a culture of innovation by encouraging employees to think creatively and stay curious. Without investment in this area, your business may miss out on valuable ideas and opportunities for improvement.
5. Increased Turnover: Employees are more likely to leave a job if they don't see opportunities for career advancement or if they feel their skills are not being utilised. High turnover can be costly in terms of recruitment, training, and lost productivity regardless of the type of organisation you have and the operating model your use.
6. Ineffective Leadership: Leadership skills are crucial for the success of any organisation. Failing to invest in leadership development can result in ineffective management, leading to a lack of direction, poor communication, and diminished team cohesion.  Exit questionnaires cite 'poor management' as the main reason for leaving an organisation over pay and benefits in most organisations we surveyed last year.
7. Customer Satisfaction: If your employees are not adequately trained in customer service or the products/services you offer, it can impact the overall customer experience. This, in turn, can lead to customer dissatisfaction and a negative impact on your reputation.  
8. Compliance Risks: In industries with regulatory requirements, failure to invest in training on compliance issues can lead to legal and regulatory problems. Non-compliance can result in fines, legal actions, and damage to your company's reputation.
9. Adaptability Challenges: In a rapidly changing business environment, adaptability is crucial. Without a focus on learning and development, your organisation may struggle to adapt to new market conditions, technologies, or business models.
10. Missed Opportunities: Learning and development can open doors to new opportunities, partnerships, and collaborations. Without a proactive approach, your business may miss out on potential growth and development pathways.

Investing in the learning and development of your staff is an investment in the long-term success and sustainability of your business. It helps create a skilled, motivated, and adaptable workforce that can navigate challenges and contribute to the overall growth of the organisation.  Ultimately its a bigger financial risk to your business if you don't!

Ask do your staff, teams and line managers still feel you have unproductive meetings and it takes over your day?  Why not hold a 'Holding Productive Meetings' course to help them improve workload pressures and support colleagues work more productively?

Whilst we have dealt with economic down turns and a change in government, the landscape continues to ebb and flow, never has there been a time to think even more about 'Effective Workforce Planning' and continue to realign business resources so we can thrive in the new economic climate.

In 2020 & 2021 'Managing Change' seemed to be the only constant, putting a spotlight on 'Leadership Skills' where some leaders have thrived under the pressure others have buckled with the loss of high street names such as Debenhams, Wilkinsons and the Body Shop.  Developing your managers quickly has been essential to business survival with the emphasis on supporting staff transition to 'Working Remotely'  whilst also 'Managing Performance' in a climate of uncertainty.  It is most likely that the leadership qualities you thought necessary pre-pandemic have now shifted and will in the future influence the way in which you conduct  'Leadership Profiling' and select leaders into your organisation for the future.

Supporting 'Health & Well-being' will continue to be a huge task for 2024/25.  We have seen organisations thrive when they have adopted an integrated wellness strategy into their L & D programmes and concentrating on this part of your operational agenda will pay dividends for future years.  

For 2024/25 make learning accessible and relevant, your content must be tailored to your organisation, combining job related training and soft skills.  Make sure content is engaging and fun to learn, to ensure delegates participate and gain practical skills they can use straight away.

Pay Attention to Change Fatigue

There are a number of studies at the moment where research suggests that the average amount of change an employee can absorb without becoming fatigued is half what it was pre-pandemic.  Of course the knock on effect is lower resilience and where coping strategies may have worked in the past, colleagues are going to have many more down days where they need extra support.  

A recent study from BACP has seen the number of counselors and psychotherapists enter the profession by a significant percentage with many clients accessing support because they have hit a mental 'wall'.  In other words we can only do so much and 'Identifying Fatigue' in staff, recognising the signs and then doing something about it, will be even more essential in 2024/25 than it has ever been.  This needs to be a real focus for your managers and they need to be comfortable 'Managing Absence' and 'Talking About Mental Health' as part of their 121's, return to work and daily conversations.

Keep organisational change to a minimum where you can.  Dealing with uncertainty can drain energy out of your business, if you are 'Managing Redundancies' as part of your 2024/25 plan than deal with it as quickly as legally possible and let colleagues in essential roles know their jobs aren't at risk so they focus on the work.

If you are making changes so you can reduce anxieties about the way people work, for example you are down sizing , then you may want to make contractual changes or by 'Managing Flexible Working' applications more proactively and allow staff to settle into a 'known' work routine that enables them to thrive at work but also focus on family matters.

If you need any help planning your training offer or want to develop  career pathways speak to us on 0800 567 7003 or email claire.bamford@precisehr.co.uk