467 - Where Companies Spend Their Training Dollars
Episode Title: Where Companies Spend Their Training Dollars
Where are companies spending their learning and development dollars? Here’s what they’re prioritizing—and what they wish they could do, next on The Perna Syndicate.
Ep 467 show:
You’re now in The Perna Syndicate—hello and welcome! This week we’re talking about the rise of learning and development (or L&D for short) in the workforce.
A recent study found that 67% of HR managers have an increased L&D budget in 2022—which is significant in a time of inflation and other budgetary challenges.
One trend that we’re seeing is training programs created for specific stages of a worker’s career. For example, almost half of these organizations already have specific training in place for new graduates just entering the workforce. Another 42% offer training to support the re-entry of formerly retired employees, which is a particularly smart move as the Great Resignation carries on.
But there are still shortfalls between what the workforce needs and where companies are investing. Almost three-quarters of the HR managers surveyed said they would invest in more mental health and well-being training if they had a higher L&D budget.
The pandemic has only exacerbated the need for programs like this, with record numbers of workers reporting burnout, depression, anxiety, and other emotional problems that can spill over into their professional lives.
On a positive note, it’s encouraging to hear that 77% of these HR managers are planning to focus on life skills training within the next 12 months. For the younger generations especially, this is a point of pain that companies can help address.
Tomorrow: just how much does a company’s L&D culture affect its employee recruitment and retention? I’ve got some interesting numbers to share on the next episode of The Perna Syndicate. Stay tuned and we’ll see you then!