In this final article in our series about Learning Ecosystems (LE), we will focus on how learning ecosystems help companies grow by improving employee recruitment, retention, and growth.
Would it surprise you to learn that 77% of employees across the US and Europe prioritize company culture over salary in terms of job satisfaction (recruitment.com)? This means a company’s reputation as “a good place to work” means more to most potential employees than almost anything else, including generous compensation. Although compensation is part of a company’s culture to an extent, it doesn’t make up for what a brand might lack in other areas.
So what does an appealing company culture include? Well, in a list of the top 13 things job candidates look for when they vet companies to which they might want to apply, numbers three and four are opportunity and growth, respectively (The Hire Talent). If your brand is known for having a robust LE, candidates will recognize that you have the motivation and the means (a vigorous LXP) to provide them with the learning opportunities that will keep them at the top of their game and give them the chance to climb the company ladder. This is a very attractive cultural aspect that will entice ambitious people to your brand.
As important as it is to draw in good prospects, it is even more important to keep them once they’re hired. Employees who know they will be given the chance for greater responsibilities as they acquire advancing skills do not feel inclined to take those skills elsewhere. On the other hand, if your organization does not prioritize, plan, and implement a functional learning ecosystem and training strategy, your employees may feel like they’ve hit the proverbial ceiling and need to move on. According to Best Money Moves, the lack of growth and advancement opportunities (which is directly tied to a company’s L&D strategy) was one of the top three reasons employees voluntarily left their jobs in 2021, surpassed only by unsatisfactory salaries and unmanageable workloads. A learning ecosystem can help your brand avoid high turnover by creating learning experiences that give employees the proficiencies and confidence they need to succeed.
Finally, we’d like to make an argument in favor of growth for growth’s sake. The fact is, the more your employees learn, the better they do their jobs, and the better they do their jobs, the more your company profits by their expertise. We live and work in an extremely fast-paced world, where products, methods, and technologies change at dizzying speeds. Global Focus tells us that, “The shelf-life of skills is getting shorter, with 70% of businesses agreeing that skills are becoming outdated faster than ever before” (Global Focus Magazine). Employees, therefore, need to “work and perform effectively at higher uncertainty and pace, not just in a ‘run’ mode, but also in the ‘change’ and ‘disrupt’ [modes] (Global Focus Magazine).
It stands to reason, then, that companies who want to thrive well into the future need to invest in their employees’ lifelong learning and talent development with a strong, active learning ecosystem that evolves with the times. This means training strategies need to include more frequent training and collaborative learning sessions. Using virtual learning solutions like Jigsaw Interactive, companies can provide a powerful learning environment that focuses on activity and project-based learning. And, as identified earlier, being able to collect engagement, learning and performance analytics that are driven by what each learner does furthers the LE’s ability to continuously provide critical information around employee engagement for corporate growth.