Since 2020 was the year for companies to reimagine their current learning culture as an immersive and growing machine, competitive environment, it is now the time for them to look at how they can expand their skill. L&D leaders are faced with quite a bit of change in the field of learning and growth speeds, and it is challenging to keep up with. The only option is to either give in or go down the drain. Technology, strategies, and workers are only a few examples of things that can affect work scope changes.
Millennials prove to be the workforce’s most prominent group. Generation Z is fast catching up. Indeed, Bloomberg predicts that the iGen generation will overtake the Millennials in population by 2020. In general, education for these groups is focused on personal and professional growth. They yearn for opportunities that will
equip them with the much-needed and highly sought-after skills of the future.
Given this, and Gen X and baby boomers must still be considered, what are the areas or patterns in which learning leaders should concentrate to plan for a prosperous and innovative 2021?
Corporate Education Trends
Establishing and Maintaining a Learning Culture
This is the most important of all the developments that will be explored. The learning culture acts as the framework for all other techniques and services. Without it, learning becomes sloppy and incapable of adapting to changing circumstances, whether they come from the market, the company, or the employees. If one were to define a learning culture, it would allow workers to seek, share, and apply new knowledge and skills indefinitely to enhance individual and organizational performance. Additionally, it will include personal and professional growth.
Developing a Skills Economy for the Future
Whether or not this is believed, there is a strong need to push a new skilling plan for its future. With AI and automation assuming some occupations, employers and workers alike recognize the importance of developing skills that enhance their employability and train them for the lot of work. So what does this mean for education and development? The education sector is rapidly establishing itself as the face of this emerging future skills economy. Learning leaders must train teams to be the hidden weapon of the company in terms of strategic differentiation. L&D must incite creativity to help, expand, and empower organizations as critical business partners.
Enhancing Access to Education
The cost of hiring and/or firing workers is a significant expense for the company. Education will help alleviate some of the financial strain. How is this accomplished? A learning plan that emphasizes customized learning over a “one-size-fits-all” approach would increase employee satisfaction. Retention is a beneficial side effect of loyalty.
Additionally, a personalized strategy equips workers with the resources necessary for organizational success. The majority of people will take ownership of that development. This same ownership contributes to the creation of a learning community.
Although immersive technologies such as virtual reality and augmented reality are massive in the gaming world, their effect on corporate learning will be unmatched, especially as both technologies become more available and affordable to organizations. In the majority of instances, these techniques can be used in conjunction with traditional learning resources. How come? Skills are learned and exercised in a simulated environment in the virtual space. Not only does it provide a near-realistic experience, but it also maintains a healthy setting. Additionally, most VR platforms enable learners to practice skills indefinitely, and they allow managers and/or leaders to mentor learners on specific skills.
Retention of Information (ROI)
Within an hour, 50% of people forget what they know, 70% within 24 hours, and 90% within a week. This is sometimes referred to as the Forgetting Curve. It is essential to keep this in mind when considering learning and/or training for employees. Employees acquiring the requisite knowledge and skills is one thing; it is when they apply it to determine if the learning was good. There are several approaches to the issue of the preservation of information. In some instances, it is a matter of retraining, not from the viewpoint of application failure, but rather from the standpoint of re-exposure; the “practice makes a better” approach. Additionally, managers/leaders should mentor employees to help them cement their learning.
What Is the Future of Corporate Learning?
According to the Udemy report, nearly 40% of learning and development leaders believe that emerging technologies are transforming or eradicating work. Artificial intelligence and automation are two of these innovations. This is why developing an effective corporate learning plan is critical. Furthermore, leaders are well aware of this. According to the same Udemy survey, nearly 60% of leaders retrained between 10% and 20% of their staff in 2018. This figure is expected to increase this year and in the years ahead. Taking stock of the five patterns described above will help reorient the company, but they are not the only ones to consider. Human resource and learning leaders must conduct an assessment of their existing learning community to combat the fast-ever growing work from home (WFH) scheme. Place it within the sense of your company and industry. As with staff, tailor the plan and move forward.
- Since 2020 was the year for companies to reimagine their current learning culture as an immersive and growing machine, competitive environment, it is now the time for them to look at how they can expand their skill.
- L&D leaders are faced with quite a bit of change in the field of learning and growth speeds, and it is challenging to keep up with.
- Indeed, Bloomberg predicts that the iGen generation will overtake the Millennials in population by 2020.
- Immersive Technology is on the Rise Although immersive technologies such as virtual reality and augmented reality are massive in the gaming world, their effect on corporate learning will be unmatched, especially as both technologies become more available and affordable to organizations.
- What Is the Future of Corporate Learning?
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