Learning and development (L&D) initiatives provide a great return on investment now more than ever. With the proper focus and understanding of how L&D programs contribute to corporate profits, spending on training and development should be viewed as an investment with the potential for strong returns rather than as a disposable business expense. In the white paper Making the Case for Learning and Development: 5 Steps for Success, UNC Executive Development provides what steps are needed to make an organization’s L&D initiatives an essential business move.
Step One: Know Your Organization’s Strategic Priorities
Make it your business to know and understand your organization’s strategic priorities and keep these priorities in mind when developing your L&D programs:
- Read about your industry and organization on the Internet.
- Learn about your competition.
- Understand how your organization is rewarding its executives and how this compares to others in your industry.
- Learn how your company is viewed externally and what your customers are saying about you – both positive and negative.
Gathering this knowledge will help you understand and anticipate where your organization needs to be in three to five years as well as help you communicate better with your top management professionals. Long-term goals are just as essential as short-term goals.