MN7181-Peoples and organization- 

-Important of Learning & Development to Organization-





A specialized HR function, learning and development (L&D) is defined as the process of empowering employees with specific skills to drive better business performance. They may be upskilled to perform better in their existing roles or reskilled to take on new roles in the organization and fill the skills gap that is becoming common in the workplace these days. (Basumallick,2020)

1.Business performance

Learning and development objectives pertaining to business performance include:

  • Increase in the volume of work completed within a stipulated time
  • Rise in customer satisfaction scores as a result of better employee performance
  • The ability to gain from emerging opportunities, due to new skills available in the organization
  • Business sustainability through a period of dynamic changes (regulatory shifts, economic upheavals, digital transformation, etc.)

2. Employee satisfaction

Learning and development objectives pertaining to employee satisfaction include:

  • Increase in employee retention rates
  • Improvement in your employee net promoter score (eNPS)
  • Reduction involuntary turnover in the long term
  • Lowering of employee stress, thanks to a rise in confidence and skill levels

3. Employer branding

Learning and development objectives pertaining to employer branding include:

  • Shorter time to fill for new job roles
  • Increase in the quality of hire
  • Reduction in recruitment marketing costs
  • An uptick in the number of unsolicited/inbound applicants

4. Individual self-actualization

Development and learning objectives pertaining to individual self-actualization include:

  • The ability to reach personal improvement targets
  • Enhanced work-life balance enabled by robust skill sets
  • Increased employability, driving greater job security
  • Realization of hidden potential such as leadership skills or a knack for working with data.  (Bassumallick,2020)

Global Context 

Moreover, research (Chao, 1997) has revealed that the majority of learning in organizations does not occur in formalized training settings and that “informal socialization strategies and unstructured training are believed to be more influential than their formal counterparts” (p. 132). Most learning occurs more naturally and informally. For example, Tannenbaum (1997) found that in seven different organizations, individuals consistently attributed less than 10% of their personal development to formal training. This finding was replicated in samples in Japan, Korea, and China (Flynn, Eddy, & Tannenbaum, 2005). 

How it practice in Sri Lankan Banking Sector

Learning & Development is helpful to  Sri Lankan Banking Sector To achieve great competitive advantages it is part and partial of innovative ideas and practices. Therefore, employees should be aware of organization's strategic concerns, attitudes of optimism and adaptability or change catalyst and achievement orientation. For this to be realized there should be a sprit of team ware and collaboration among the employees and they should inspire each other. (Dissanayake & Janadari, 2010)

Conclusion

According to the discussion Learning and development (L& D) increase competency of the employees and also helps reduce any weak links within the organizations who rely actively on others to complete basic work tasks effectively and efficiency. 
A well trained employees usually shows greater productivity and higher quantity  and quality of out puts. ultimately it should help to achieve organizational goals gradually.

References 

Bruhn, M., Karlan, D. and Schoar, A., 2010. What capital is missing in developing countries?. American Economic Review, 100(2), pp.629-33.

Tannenbaum, S.I., Beard, R.L., McNall, L.A. and Salas, E., 2010. Informal learning and development in organizations. Learning, training, and development in organizations, pp.303-332.

Fleer, M. and Hedegaard, M., 2010. Early learning and development: Cultural-historical concepts in play. Cambridge University Press.

Gibson, E.J., 1969. Principles of perceptual learning and development.

Comments

  1. Pasan Wijesekara21 November 2020 at 21:18

    Identification of the importance of learning and development itself a good move that local banking sector has done. With good HR relationship and activities it is possible to go for more improvement on the subject.

    ReplyDelete
  2. Chanakaja13 December 2020 at 04:28

    lack of knowledge is a big issue to smooth work with in the organization process.

    Learning and development helps to match the priorities and success of workers with those of the company. Inside an organization, those responsible for learning & development must recognize ability gaps between workers and teams, then create and provide training to bridge those gaps. (G.I. Joe, 2014)

    ReplyDelete
  3. Dhanushka Dharmasooriya13 December 2020 at 08:38

    The development of the employees in an organization is very important and the current employers invest a lot in it. The key factor in an organization is the employee, so continuous employee training is a very important factor.

    ReplyDelete
  4. Hemanthi Maheshika Abeysekara13 December 2020 at 09:59

    Learning and training both are important to performances of employees as well as organization. Nowadays, we see lot of investments are done by organizations to develop their employees since they are the backbone of the company.

    ReplyDelete

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