IN 2024, L&D PROVES ROI AND BUSINESS ACCOUNTABILITY
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Just like there are heaps of article about HR Trends every year, there are also a lot of pieces written about L&D trends. And as we approach the end of the first half of 2024, it's a good time to have a debate around one of the L&D trends predicted for this year.
According to an article by Training Industry, this is the year in which learning leaders are going to be held accountable to business objectives, not just participation.
In an uncertain economy, the pressure is on L&D leaders to make sure their programs have a clear impact on the business. The company’s C-suite wants to know that its L&D programs are aligned with the company’s current strategic goals and objectives and - more importantly - that they are contributing to these goals and supporting the company’s long-term growth initiatives.
And so, according to the same article, this year, L&D leaders should focus on communicating and highlighting tangible ROI benefits of employee development such as:
· Revenue from sales directly attributed to L&D
· Savings from retention as a result of L&D
· Savings from promoting within the organization
A great objective, but is this something that is feasible? Because if there is one thing that we’ve been hearing for quite some years now it is that proving the ROI of learning isn’t easy.
But, perhaps this is the year in which all of that changes, so here comes our second statement of today:
“In 2024, L&D leaders will demonstrate the ROI of employee development and be held accountable to business objectives.”
