Unfortunately, there are those organizations that look at their Learning and Development (L&D) budgets as a "nice to have," in the overall operations of the company. So when times get tough, the first thing to get cut is the L&D budget. Never mind the fact that those cuts impact engagement, profits, loyalty, succession planning, and competitive advantage. This is usually because there is a lack of understanding of the value training brings to the organization and the return on investment it generates. In my experience, L&D is more important than ever. Not only do L&D programs increase the skills of your workforce but providing the opportunity to learn and grow is an engagement tool on its own. ‘Learning opportunities are among the largest drivers of employee engagement and strong workplace culture – they are part of the entire employee value proposition, not merely a way to build skills. As senior leaders in an organization, you have the responsibility to ensure that employee development is not a consideration for the chopping block when budget cuts become a topic in the board room.
Rich and Maikel talk about the travesty of cutting out employee development in this episode of Mainline Executive Coaching ACT.
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