Educational qualification is one thing. But when it comes to career development in an organization, how much an employee develops over time takes priority. Anybody who joins a corporate company will look forward to career development. If the company can provide them with resources for it, they’ll stay longer there, reports Forbes in a study. Corporate L&D or Learning and Development is the key to advancing the career of employees and the development of business.
At present, the market value of any corporate firm is determined by the value employees and the leadership brings to the organization. One of the important factors that achieve this is L&D. Corporate education paves the way for employees to develop better skills and capabilities to handle multiple new tasks and be efficient in what they do.
Let us explore the importance of corporate L&D in organizations and how it can improve the business. Here are five key points.
- Attract and retain talents
- Skill development
- Build brand
- Learning opportunities
- Avoid risks
1. Attract and Retain Talents
Corporate companies invest a lot in the finding, inducting, training, and developing talents for the company. Learning and development are also part of this investment where they hope the employees will advance their capabilities in the company. It helps them to increase the value of employees in the company by multiple folds. With better knowledge comes better performance. It helps the business to grow to the next level.
2. Skill Development
In the current industrial competition scenarios, skill development is critical for every business. Corporate L&D provides the business an edge to gain more from the employees with training. With skill development training employees can handle multiple tasks, be effective, work efficiently, and be proactive.
3. Build Brand
Brand value is an organizational asset. All employees need to understand what their company’s brand represents. Corporate L&D helps train them to understand the brand value, strength, industry position, quality of services, and product reach. With such a proper understanding of the brand, employees can incorporate and reflect the brand’s definition in all aspects of work.
4. Learning Opportunity
“Unlearn” is a common concept we hear when we graduate from a university and join an organization anew. It means that whatever that the new joinee has learned may not be required on the job in reality. Corporate L&D provides the employees to learn more about the corporate structures and how work is done in reality. For an employee career development starts from their first job. If the organization can provide them with resources for learning and development, they will perform better and stay longer.
5. Avoid Risks
Proper education makes the employees better. It also helps the corporate firm to avoid risks too. Corporate L&D not only trains them to do a better job, but it also teaches them to avoid mistakes and take unnecessary risks. Training programs on regulations, rules, conduct, violation, harassment, gender equality, cultural freedom, etc. help the employee to follow professional conduct. Such training can help the business avoid risks and help conduct business with the highest standards.