To thrive in an ever-changing technology-based environment requires individuals to change and improve how they work. A rapid shift in cultural and business environments, as well as new federal regulations, add dynamic elements to the mix.
A learning culture fosters a continual increase in understanding, effectiveness and overall performance. It guides businesses toward success throughout difficult economic, financial and social change.
According to a 2014 Oxford Economics and SuccessFactors study, many organizations struggle to provide the proper time and tools necessary for creating an adequate culture of learning.
How Can a Culture of Learning Impacts Your Organization?
The 2014 Global Workforce and Global Talent Management and Rewards Studies revealed that companies find it difficult to attract and retain employees with critical skills.
Organizations demonstrating strong learning cultures have higher engagement and retention rates by as much as 30-50%, as reported by Deloitte University Press’ the Global Human Capital Trends 2014. Additionally, organizations with a learning culture reported they are 92% more likely to use creativity in the development of processes and products, 52% more productive, and 17% more profitable, overall.
Organizations without a learning culture disregard crucial gains that impact their success or failure.
Benefits of creating a learning culture include:
- Stimulates the ability to problem-solve independently. Emphasizing valuable skills in a learning management system gives employees the tools to solve problems on their own, leading to greater efficiency within the organization.
- Helps employees adapt to evolving technologies more easily. An effective and flexible online learning platform allows organizations to update lessons specifically for technological advances. Updating equipment and programs promptly will support employees in learning and using new programs.
- Improves employee retention strategy and overall workplace satisfaction. The 2014 Global Workforce Survey states that employees rank career advancement opportunities, and learning and development opportunities as the third and fourth most important factors in engagement and retention, respectively. Organizations with a learning culture where employees feel supported in their career growth often see a spike in employee engagement and retention.
Business organizations must incorporate a learning culture into their processes, values, goals and everyday practices to achieve success. Encouraging employees to continue adapting and growing drives a high-impact learning culture that leads to increases in employee retention and overall job satisfaction.