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Inclusive workplaces that demonstrate they value equal opportunity and employee development are set up to attract the brightest talent and are more likely to retain their valued, existing employees.
Implementing an effective learning and development (L&D) strategy to boost employee engagement and retention has never been more important, but the same goes for the return on investment in these schemes too.
One McKinsey study discovered a mere 8 per cent of organisations actually evaluate the value of their L&D initiatives by tracking ROI, but without proof of efficacy, development programmes are the first to go when budgets tighten.
So, how can your business promote employee L&D to increase job satisfaction, and improve productivity and commitment in the workplace?
Forget one-size-fits-all
Companies looking to develop an inclusive learning strategy need to consider the preferences of their workforce. Staff of different age backgrounds might learn in different ways, and your personal development offerings need to support this.
For example, a PwC report found only 6 per cent of millennials would benefit from formal classroom training above any other method. Younger generations that are more fluent with modern technology are likely to prefer training via online courses.
Millennials are set to make up 75 per cent of the workforce by 2025, but businesses should not be swayed into only prioritising support towards this one demographic. You still need to cater to wider...