Technological advancements are fundamentally altering the traditional business models and these changes are happening every day at an unprecedented speed. In order to thrive in this new age of revolution, companies need to be proactive in learning new skills, adapt to new apps, operate new high tech machineries, create innovative products and services and ultimately adopt new disruptive technologies. In other words, companies should embrace a learning culture and literally “never stop learning”.
There are many reasons as to why a learning culture is crucial to your organisation. Let us explore some of the reasons here:
1. A good business strategy
By definition, a learning culture is one that encourages employees to constantly expand their knowledge, skills, competencies and performance levels. Research conducted by Bersin & Associates proved that there is a direct positive correlation to business performance. In its study, companies with a learning culture reported a 46 percent overall improvement in business outcomes.
2. Survive the changing landscape
There is fear in workers being replaced by machines with more automation taking over routine jobs in factories and offices. However, technology is also creating new jobs. A learning habit will encourage employees to learn new skills to take on these jobs, helping them adapt to disruption that transforms the workplace and take advantage of new opportunities.
3. Increase employee retention
Employees would feel valued if you invest in their growth and development by providing them the continuous learning curve that they require. In fact, top talents who have a strong desire to make a difference (Millennials and Gen-Z) and to grow their careers fast would naturally be attracted to your thriving learning culture.
4. Boost productivity
Data from Bersin & Associates’ research found that employees are 37 percent more productive than their peers at organizations that don’t have a learning culture. A productive workforce that is constantly learning and innovating can outperform your competitors, creating a competitive advantage to your business. All these translates to an increased in return on investment (ROI) for the company.
5. Develop morale & motivation
To some employees, motivation is more important than their monthly salary. Motivation can be the sole purpose that keeps them going. Motivated employees are more passionate about their work and can indirectly influence their team members, creating a more productive team where they work together towards a common goal, mutually benefiting themselves and the company.
6. Increase in customer satisfaction
Bersin & Associates’ research revealed that employees in a learning environment are more likely to respond faster to customers, resulting in an increase in customer satisfaction. An improving workforce holds strongly to their personal achievements therefore they naturally assume greater responsibility and deliver the best results especially towards their customers.
7. Creating innovation
Employees with a learning culture are constantly looking for new ways to improve their tasks and deliver their products and services faster. They are aware of the latest technology that can help speed up their projects and achieve more positive results. In fact, their willingness to learn gives them the ability to create new products, services and processes that are better. They have the potential to be the first to market new innovative solution.
8. Helps in succession plan
The workplace environment today is unpredictable. Infusing leadership skills at every level of the organisation helps in succession plan especially in the face of change. A learning culture no longer focuses on just one individual to lead but a pool of talented people who can assume any leadership role when the need arises.
Many industries are undergoing rapid change due to new technology, globalisation and innovation. Smart leaders know that a learning culture helps to mitigate company risks and acts as an important element for them to move forward along with today’s ever-changing work environment. So, does your organisation have a learning culture?
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