With every organization struggling with finding top talent & retaining it, there is urgency for such companies to hire a professional who is completely dedicated to learning & development of the employees. There is a requirement to make changes in the old Talent Management Strategy & employ an efficient Chief Learning Officer who can take up the responsibility of keeping the competent employees engaged, identify future leaders & develop leadership skills which is required for succession planning & also enhance the knowledge & skills of the present employees of the company.
Enhancing engagement & elevating retention
Nowadays, every employee wants to learn & looks out for growth opportunities. So, in organizations where an emphasis is given to learning & development experience higher retention as well as loyalty from the staff members. Having a Chief Learning Officer in order to develop the talent proves a company’s commitment towards the training & education of the modern workforce.
With changing times, professionals have begun to expect an excellent human resources management experience. From the recruitment process to the orientation procedure to the training opportunities provided by a firm, employees wish to have mobile access to all.
According to multiple surveys, it has been proved that for 76 percent of millennials feel that effective opportunities for learning & development are one of the most significant components of an organization’s culture. Moreover, such opportunities are not only beneficial for the employees but are extremely valuable to the employers as well. That’s because the skills that the talent inherits are utilized for the welfare & growth of the organization itself. Furthermore, this gives a chance to the employers to identify able professionals that can be further trained for leadership roles. Recent studies show that more than eighty percent of an organization’s employees consider their company’s commitment towards professional development as incredibly significant to their engagement & overall satisfaction in their jobs.
Developing leadership skills for succession planning
With baby boomers leaving the workforce, the leadership positions are needed to be filled with professionals who are proficient enough to take on to critical leadership roles. And for this, Chief Learning Officers have to work closely with the company’s stakeholders in order to promote professional development along with leadership training at a calculative level.
As a matter of fact, organizations with a policy of a training & promoting leaders from within have a thirty-one percent higher success rate as compared to others who tend to look outside.
Satisfying employee needs for improving productivity & profitability
The more an organization focusses of developing plans for the learning & development of its employees, the more engaged & loyal its workforce becomes. Which is a major driver for productivity.
Moreover, it is natural for employees to become more competent at their jobs & produce a higher volume of work if you provide them with a platform to upgrade their skills. As a result of which, an organization is able to enhance its profits. For this very reason, it is necessary for organizations to hire a CLO who can offer guidance to employees at every level of the company.