Closing Talent Gaps with the Right Technology

Finding good talent with the right skills is harder than ever. And while some employers try to overcome this challenge by enhancing the skills, knowledge and abilities of current staff, many find that their existing leadership development programs aren’t all that effective. That’s because more often than not generic, off-the-shelf learning solutions deliver generic, off-the-shelf results. But if you use a product designed for any company chances are it probably won’t provide the best results for your company. And while the last thing anyone wants is for their training dollars to go out the window, without the right technology and strategy in place, that’s exactly what happens. 

Spending on corporate leadership development in the U.S. alone rose 15 percent last year, accounting for $70 billion. Despite this huge investment, most organizations say they are capable of delivering only two-thirds of the leaders their companies will need in the future. At the same time, it takes the average organizations 29 months to develop a high-potential mid-level manager into a senior leader. Given these statistics, it is clear that something just isn’t right.

So what can be done to fix the problem and ensure companies spend their leadership development budgets wisely? One of the easiest ways is to adopt an integrated learning management solution. With such a solution in place, you can create the much-needed alignment between your team’s individual goals, and overall company objectives. This is step one in developing a tailored, targeted approach to giving employees effective leadership training. Consider how else a LMS can help:

     • Get everyone involved: A robust learning management solution can deliver the needed training to employees at all levels, rather than just those high potentials. This way, you can provide the most effective learning strategies across the enterprise, based on job type, division or region, while accounting for unique individual needs.

     • Keep employees engaged: An effective learning strategy can give employees the chance to expand their skills and knowledge on an ongoing basis. This can make their work more interesting and enjoyable, and make it more likely that they will stay with the company for the long term.

     • Track learning success: A comprehensive learning management solution can give you the tools to easily track development activities. As a result, you can ensure employees receive the appropriate development to maximize training budgets and improve performance.

There’s no end in sight for the growing talent gaps in many organizations. And what separates those that will rise above from those that will stumble is having the right technology in place. The time is now to show your employees that you are committed to their future by enhancing the learning function and working to build a strong pipeline of successful leaders. To learn more about how a robust learning management system can enhance leadership development, check out our white paper, Lead Me: Mind the [Talent] Gap.

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