Whether you’re an entrepreneur, designer, HR professional or anyone else, you are probably wondering what the future of business looks like.
Business leaders have had a difficult time over the past couple of years, facing challenges like economic downturn and the ongoing talent shortage. But things are starting to look more positive. With the rapid development of technology and rise of artificial intelligence (AI), you and many others are wondering what the future of business looks like.
This week is Learning at Work Week 2023. This year’s theme, Create the future, aims to explore how lifelong learning in the workplace can help you create the future of business. What that looks like is down to you.
From achieving business objectives, creating a new workplace culture or driving creativity and innovation, you can use Learning at Work Week 2023 as your starting point. Whether you are looking for an inspiration guide or planning resources, there is plenty of material to help you get started.
Whether you’re working in the HR or Finance sector, Health & Safety, Hospitality market or anything else, it’s an important period for everyone. Let’s take a look at some ways you can create your own future of business…
Implement eLearning to increase retention
Before planning for the future, you need to be looking after what you’ve already got; your people. Retention has been a problem for businesses recently, with the economic downturn forcing many to lose their talent to competitors.
But there is a solution. Providing an eLearning programme has been found to increase retention rates by up to 60%, which is probably down to employees being able to access content in bitesize chunks.
eLearning is the broad term used to describe any form of online learning, ranging from courses or playbooks to explainer videos and various other content development.
As it’s Learning at Work Week, why not spend time mapping out an eLearning programme which retains your existing talent? If you need some support, get in touch and we’ll be more than happy to support you!
Build career development plans
Once you’ve identified how to preserve your existing talent, you need to demonstrate their value. A great way to do this is by sitting down with employees and building a career development plan with them.
If you haven’t already, set aside 15 minutes and speak to your employees to find out how they want to progress. Identify their existing skills and explain what opportunities are available for them to develop within your organisation.
Do not be afraid of identifying areas of improvement by giving feedback too. When used properly, feedback has a massive impact on “improving performance” of employees, with 92% of respondents agreeing.
Set some SMART objectives, ask what support they need from you to help meet these. Explain the benefits they will reap by meeting these, then wait for the rewards.
Related: How can managers support with career development?
Challenge employees to upskill
As part of their career development plan, why not challenge your employees to upskill? Identified as one of the top focus areas for L&D in 2023, the importance of upskilling continues to grow. As employees are looking for more personal development, businesses need to provide more opportunities to upskill.
When creating development plans, challenge your employees and empower them to upskill. While it allows businesses to fill identified skills gaps, the major benefit is for employees themselves. They are enhancing their skillset and responsibilities, while equipping themselves with more tools for success.
What’s in it for you? 94% of employees said they would stay with a organisation for longer if they were invested in. Your future of business has the potential to be huge if investing in an upskilling programme, so it’s a no-brainer!
Related: Focus on upskilling employees for success in 2023
Utilise the power of gamification
Gamification has fast-become one of trends eLearning’s biggest trends, with growth rates of 15.4% predicted from 2019 to 2024. For those who aren’t aware, gamification is the term used to describe adding games and game-like features to something in order to increase engagement and participation.
It leads to more productivity, with 90% of employees feeling more productive as a result. While it’s a concept referring to online learning, gamification is something which can be implemented physically to a certain extent too.
Give your employees an incentive where they are rewarded directly for their output, allowing them to earn badges or collect certificates. Then watch how productive they suddenly become.
There is no set way for what the future of business looks like, with this year’s Learning at Work Week providing the perfect opportunity for you to create it. In this article, we have identified some key methods you can implement to create the future. Good luck!
Have you set SMART objectives for your employees but need support bringing content to life? Don’t worry, we can help. Get in touch and let’s start building your next project together.
