Do you see a need for more learning and development in your organisation but struggle to justify the time and budget investment required to add a new L&D resource? If so, you’re not alone, we hear this a lot from the SMEs we work with.
And we get it. You’re probably faced with minimal budgets, a rollback of resources, hiring freezes and shrinking L&D teams (if you have one at all) that are already at capacity.
But what we know is that ignoring this arm of your business puts you on the back foot when it comes to being able to attract, retain and grow your talent.
This is backed by a recent report from McKinsey & Company that says: ‘People development is often overlooked and underused, but it’s critical to attracting talent and driving lasting market advantage’.
As you know, it’s a tight labour market out there folks and that’s not changing any time soon.
So a robust, effective L&D function can give you a competitive edge in 3 key ways:
- Actively developing your existing employees is proven to increase retention rates and therefore reduce recruitment costs.
- A learning and development function helps you attract the best candidates as they know you’ll be investing in their future growth
- By fostering a growth mindset in your entire workforce you create a more effective and ultimately profitable organisation.
OK, we’ve talked about why L&D is crucial to your business, but how can you go about accessing those kinds of resources now to create change in your business pronto, without investing people, time and money you don’t have?
The solution? L&D outsourcing.
In business, time is money, right? So why reinvent the wheel and create your own training resources when what you need already exists. Bringing in an L&D provider rather than doing it yourself delivers a multitude of benefits including:
- Building and developing a relationship with your L&D provider so they get to know your people and the key relationships in the business
- Reducing ongoing costs that are incurred from inhouse delivery such as salaries, super, tech investment and sunk development costs
- Supporting your inhouse team around best practice and agile approaches to L&D
- Faster roll out of training – you can deploy it within days and see a quicker ROI
- Accessing tried and tested training programmes on demand that deliver proven results
- Not having to pull people off existing projects or away from where they create the biggest impact in the business.
- Getting a tailored delivery approach that suits the needs of your organisation (online, in-person or a combination of both)
- Being able to deliver large-scale roll outs without any additional investment.
We know organisations can be hesitant to invest in L&D support services as they are often not seen as a money-making part of the business.
But the current talent shortage is predicted to only get worse. So organisations can’t afford to put their head in the sand, but need to actively find solutions so they can become a talent magnet in a tight labour market.
And according to McKinsey, that is enabled through ‘people development done right’.
If you’d like to find out how we can help with that in your organisation, take a look at our brand-new L&D outsourcing packages. Together we can deliver the people development you need to support your retention, recruitment and business growth goals. DOWNLOAD THE FLYER
If you’d like to talk about what package might suit your needs best, email us at email@example.com or call us on 1300 110 165.
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