Investing in Learning
Without the right skills and targeted investment in learning opportunities an organization cannot hope to compete successfully:
- 22% of employers say that the skills of their workforce are not of the standard required. (2003 National Employers Skills Survey)
- The lack of basic skills costs a typical business, of 50 employees, £165,000 per year (Ernst and Young)
- UK productivity is 13% below that of other major economies (Office of National Statistics)
In Britain £4.5b is spent on training each year by employers, but this may not be used effectively. In 2001 the spend on training in the USA was estimated to be $56.8b and 50% of this training had not been used one year later and was unlikely to ever be used!
A carefully designed Learning Needs Analysis can prevent skills shortages and the wasting of finance on inappropriate or unnecessary training.
Generic Advantages of an LNA
The benefits of a well conducted learning needs analysis are:
- Learning can be directly related to organizational objectives
- Learning can be targeted at specific requirements.
- Learning needs can be identified and prioritised
- The time of trainers can be spent on more productive activities.
- The time of participants can be spent on programmes which are appropriate for them.
- Training of limited value can be avoided.
- Financial resources can be allocated more effectively and efficiently.
- Learning can be carefully tailored to requirements
Competitive Advantages of an LNA
Conducting a learning needs analysis helps an organization to be more competitive:
- Learning faster than your competitors may be the only form of sustainable competitive advantage.
- Scarce resources can be more accurately focused on critical success areas.
- Investing in people can lead to an increase in their value compared to capital investment which depreciates over time.
- Successful organizations of the future are those which can tap into people's ability to learn.
- Probably the best long-term strategy for achieving organizational achievement is through learning.