February 2023 – Training Programs – Good for Employee Engagement (and for robots too)

Our previous posts on employee engagement have discussed The Great Resignation, Quiet Quitting, and the persistent war for talent.  Perhaps the U.S. chairman of PwC has also read our posts – but in his opinion talent has already won the war

If you can’t beat them, join them.  Learning and development training programs, it turns out, can be a powerful peace offering – and a key advantage for companies fighting for talent.  And that’s not just PriSim’s biased opinion; Forbes describes learning and development as a ‘competitive differentiator’ and a top benefit for employees, finding that:

  1. 76% of employees are ‘more likely to stay with a company that offers continuous training’.
  2. 55% of employees said they need even more training to do their jobs better.
  3. 50% of employees are taking training classes completely on their own, not at work.

And simulations are in vogue these days – the Forbes article references a study conducted by SHRM and Talent LMS showing that 64% of employees say the best learning format is ‘Simulations and Learn By Doing’.  But regardless of the learning modality chosen, leaders and managers need to ensure that it’s meaningful and valuable, not just entertaining – see PriSim’s previous post on Hard, Valuable, and Fun (HVF) business training.

Another Forbes article described leadership development as a $366 billion industry in 2019, and a Statista report says that employers globally spent an average of $1,270 on L&D training per employee in 2020.  But if you think you can cut your training costs by replacing all of your employees with robots – remember that even ChatGPT needs training, and lots of it