Learning & Development (L&D) programmes are improving employee engagement, productivity and creativity, finds research from learning platform provider, Rise Up.
Some 64% of learning and development (L&D) leaders have seen a rise in employee engagement after investing in L&D programmes, and 43% report higher staff retention, finds the study.
However, many L&D initiatives are struggling to gain senior management approval. Some 41% of L&D leaders say that less than half of their proposals get the green light. Around a fifth (21%) of respondents say less than £10,000 per year is allocated and more than half (59%) state the annual L&D budget is lower than £100,000.
The report also highlights a growing challenge: many UK businesses still aren’t applying AI in their L&D processes, with over 70% saying they lack the necessary knowledge to make use of it.
Some 63% of organisations now have a dedicated L&D function and 41% of L&D leaders believe L&D is central to their overall business strategy.
Arnaud Blachon, CEO and founder at Rise Up, said, “L&D can have a profound effect on employee performance and retention, as well as delivering bottom line benefits to businesses. However, there are still a significant proportion of leaders who are yet to realise the impact it can have on their performance. The focus needs to be on using technology to create personalised learning environments where employees feel valued and want to stay, reducing turnover and nurturing long-term growth.”
VOLUME 19 ISSUE 6