Author: Julie Scardamaglia
Published: 13 September 2024
Funny how when firm leaders provide training for their people, they think it’s a benefit staff should be grateful for. Staff don’t see it like that at all. They see it as just part of the job, they expect it.
There’s a third point of view. The real beneficiary from learning and development is the firm itself.
Even though staff see learning and development (L&D) more as a right than a privilege, they value it more than almost anything else. They see it as a path to progression in their career, and if they don’t see ways to progress where they are, they’ll go where they can.
So, L&D is vital for retaining good staff. It’s also vital for skills development, for making sure the firm gets the most out of their people and clients get the quality they need.
Perhaps less obvious is the important role L&D plays when the firm needs to navigate tough times. Often, L&D is one of the first things sacrificed when money is tight. These are the times when people are under even more stress and undesirable behaviours can emerge, as staff start looking after their own patch, or are expected to do things outside their comfort zone. At these times staff need training and support in things like communications, conflict resolution, stress management, and resilience.
And the firm needs them to have transferable skills to be able to adapt to the changing circumstances, to be agile.
Sometimes firms are left with no choice but to downsize. Then when the market improves and the firm wants to ramp its services, the internal talent pool is shallow. The only option is to train up new people who may or may not have the skills required, and must spend time getting to know the business and the clients.
L&D is how firms retain their people and keep them performing at their best. If the firm has a structured program tailored to its needs, staff will know and value it, and it will reap rewards. L&D isn't just about sending people off to external courses with fancy titles. Building a learning culture in the firm, which includes some structure around on-the-job learning as well, is good for employees, good for the firm, and good for the clients.
An L&D or organisational development strategy helps make sure every dollar spent will return benefits, rather than an ad hoc approach to learning, which may lead to inconsistency in who gets investment, and might not achieve the best outcomes.
One last point. Often firms forget their senior people. At senior levels, often it is only those who ask who receive. And that request can mean less investment for everyone else.
Those who don’t ask may not say it, but they want to keep learning, too. And everyone will benefit from that.
Author: Julie Scardamaglia
Published: 13 September 2024
Funny how when firm leaders provide training for their people, they think it’s a benefit staff should be grateful for. Staff don’t see it like that at all. They see it as just part of the job, they expect it.
There’s a third point of view. The real beneficiary from learning and development is the firm itself.
Even though staff see learning and development (L&D) more as a right than a privilege, they value it more than almost anything else. They see it as a path to progression in their career, and if they don’t see ways to progress where they are, they’ll go where they can.
So, L&D is vital for retaining good staff. It’s also vital for skills development, for making sure the firm gets the most out of their people and clients get the quality they need.
Perhaps less obvious is the important role L&D plays when the firm needs to navigate tough times. Often, L&D is one of the first things sacrificed when money is tight. These are the times when people are under even more stress and undesirable behaviours can emerge, as staff start looking after their own patch, or are expected to do things outside their comfort zone. At these times staff need training and support in things like communications, conflict resolution, stress management, and resilience.
And the firm needs them to have transferable skills to be able to adapt to the changing circumstances, to be agile.
Sometimes firms are left with no choice but to downsize. Then when the market improves and the firm wants to ramp its services, the internal talent pool is shallow. The only option is to train up new people who may or may not have the skills required, and must spend time getting to know the business and the clients.
L&D is how firms retain their people and keep them performing at their best. If the firm has a structured program tailored to its needs, staff will know and value it, and it will reap rewards. L&D isn't just about sending people off to external courses with fancy titles. Building a learning culture in the firm, which includes some structure around on-the-job learning as well, is good for employees, good for the firm, and good for the clients.
An L&D or organisational development strategy helps make sure every dollar spent will return benefits, rather than an ad hoc approach to learning, which may lead to inconsistency in who gets investment, and might not achieve the best outcomes.
One last point. Often firms forget their senior people. At senior levels, often it is only those who ask who receive. And that request can mean less investment for everyone else.
Those who don’t ask may not say it, but they want to keep learning, too. And everyone will benefit from that.
