The changing nature of contemporary workplaces presents constant challenges.
For instance, in 1980, employees accounted for 30% of corporate tangible assets. Dramatically, by 1999 employees accounted for over 70% of corporate tangible assets (Forrester Research, 1999). That number is now estimated to be as high as 80%. With so much value locked up in your people, constant employee development must be viewed in terms of commercial imperatives.
Two fundamental principles underpin WTAA’s approach to workplace training and development initiatives:
Your people represent your greatest opportunity for sustained success; and
Training and development interventions must be well-planned, skillfully delivered and have the genuine buy-in of all stakeholders.
Over recent years, we have witnessed the dramatic growth of formal workplace training and development initiatives. However, despite the positive intentions of many managers in driving this growth, investments are yielding disappointing returns.
Cross-industry analysis of training outcomes suggests that only 20-30% of all training is actually being applied on the job 30 days following delivery. This suggests that billions of dollars are being poured into training simply for training’s sake.
Employee development initiatives should be tightly aligned with business objectives. Successful training means compelling and measurable business outcomes.
Whilst an inordinate amount of workplace training is failing to deliver satisfactory results, it’s not all doom and gloom. For organisations prepared to engage fully in the development process, results are consistently strong. For these organisations, training interventions are an integral and successful part of their operations.
Several qualities distinguish the approach of leading organisations to the development of their employees:
Careful analysis and responsiveness to both individual and organisational needs
Commitment to achieving stakeholder buy-in
Skilful and professional facilitation of training interventions
Reliable and robust post-training evaluation
Alignment of training needs with budget realities