Learning at Speed

By Nelson Sivalingam

How to Upskill and Reskill Your Workforce at Pace to Drive Business Performance

This book will teache you:

– The reasons training programs might not be the solution;

– Ways to leverage open educational resources; and

– The application of “minimum viable product” concepts within L&D.

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Key idea 1

Learning and development units mirror startups in their potential for failure due to similar pitfalls.

What is the key to business success in today’s post-Covid landscape? Is it launching a side project focused on hand sanitizer or video conferencing tools? While those might be lucrative, a more pertinent inquiry revolves around the necessary mindset for businesses now. The defining characteristic shared by thriving businesses in any industry today is their capacity for rapid learning.

This isn’t solely related to the Covid era. We’re part of an incredibly fast-evolving environment, affecting both professional spheres and personal lives. The skill set required by today’s workforce is set to shift significantly, even in the short span of the next five years. The challenge then becomes, how can your business swiftly adapt its learning and development to prepare employees for future demands when the specifics of what they need to learn are yet unclear?

The solution lies in the realm of learning and development (L&D), traditionally tasked with enhancing or updating your workforce’s skills. However, there’s a twist: for L&D to truly thrive in this rapidly evolving era, it must also transform. It must adopt the nimble and ambitious approach characteristic of a successful startup. Yet, it’s important to remember that many startups don’t make it, and the lessons from their failures offer valuable insights for L&D experts.

Remember Quibi? For a brief moment in late 2020, it grabbed headlines as a fresh mobile streaming platform flush with almost $2 billion in funding, specializing in short-form content for a paying audience. However, Quibi’s downfall was its attempt to address a non-issue. Positioned uncomfortably between the realm of free social media platforms such as YouTube and TikTok, and subscription-based streaming giants like Netflix, Quibi tried to fill a market niche that, as it turned out, didn’t have a demand or a clear need from consumers.

A significant number of L&D departments encounter a similar predicament. Surveys reveal a concerning landscape: 75% of managers express dissatisfaction with their organization’s L&D efforts, while a mere 12% of employees report actually utilizing the skills acquired through their training programs.

With a global expenditure of $350 billion, it appears that L&D isn’t effectively addressing the correct issues – to put it into perspective, this amount could finance 175 Quibis! The good news is that there’s a strategy to achieve more impactful results with fewer resources, termed by the author as lean learning. This innovative L&D approach is designed for rapid, tangible outcomes, drawing inspiration from the successes of leading startups, and has the potential to revolutionize skill acquisition in the workplace.

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