Employee engagement
A recap by Dr. Angela Jackson.
On October 24, I was honored to speak at a webinar held by Kallidus. Kallidus’ webinars are designed to help support L&D efforts and L&D strategies across the talent management field. This blog helps to shed further light on some of my recently released research, The Competitive Advantage of the Win-Win Workplace, which was the focus of last month’s webinar.
In collaboration with Burning Glass Institute and JUST Capital, my organization (The Future Forward Institute) conducted a comprehensive study that links employee-centered practices with measurable business success. More and more, we know that employers are trying to determine what L&D strategies, practices, and tools provide measurable business success, including employee morale and benefits to the bottom line. The report we discussed in the webinar aims to shed light on how employers can create a thriving workplace that benefits both employees and the company’s bottom line.
With my role at Future Forward Strategies and Harvard University, I have spent much of my work on new strategies to improve talent management as well as employee engagement. I have also focused a lot on skills-based hiring and the impact on hiring and retention. This latest research looked at over 1500 businesses and what strategies and practices led to employees thriving. Out of the research came nine practices that were reoccurring in companies where they saw employees thriving while also showing a positive impact on bottom lines.
Empowering and engaging managers on the importance of L&D helps steer the success of your initiatives. Recent research shows that 49% of L&D cite budget limitations as a significant barrier to the execution of learning strategies. In addition, skills are rapidly changing, with as much as 44% of skills changing within the next five years. Our research shows that only about 10% of L&D leaders are measuring the impact of the business overall.
Therefore, the Win-Win Workplace Framework is designed to support L&D leaders in their continued work to measure the impact of their L&D efforts across nine pillars.
These are the pillars we identified as most meaningful to employees while showing bottom-line impact on the businesses. If you dive into the report and the webinar, you will see the measurements of success we found across companies focusing on these pillars, including as much as 40% reduction in turnover!
Enhanced strategies are not yet a science: We know that a lot of this work is not yet a science. But, we also believe that if we can continue to work with technology companies like Kallidus and L&D leaders throughout organizations, we can continue to build case studies that can impact the field of learning and development. When managers actively participate in L&D, it signals to employees that their growth and development are valued. This can significantly boost employee engagement and motivation. We also know that having a framework helps when talking to CTOs, CFOs, and CEOs about your strategies.
Overall, the more we can build a strong case for L&D outcomes, the better improvement overall for the employees. We believe this from the research and the data. We know that the key to the corporate bottom line is the impact L&D and strategies such as the nine pillars have on employees. And, we want to continue to build this research with those wanting to share their strategies and create research-driven methodologies to impact the field of learning and development’s impact on the corporate bottom line. Future Forward Strategies wants to continue to share the research and success stories to continue to build awareness and impact change.
Our collaboration with Kallidus invites us to provide research and case studies that stress the value of simplifying compliance initiatives to activate the frontline workers and deepen the talent bench and close the development gap by creating a place of work where people come to learn and grow together.
After our webinar with Kallidus, we are enthusiastic about the future. We believe in partnership and collaboration. We believe in the power of the voice.
We welcome you to view the recording of Kallidus’ recent webinar, Findings from the Win-Win Workplace Research Report, featuring Dr. Angela Jackson.
