Show findcourses.com as: Mobile

Why are Companies Finally Investing in Talent Development?

For years organizations, both large and small, have neglected the importance of developing their employees, believing that their funds could be allocated towards more important things. Finally, in 2018, companies are beginning to realize the importance of investing in talent for overall performance and retention purposes. 

Why has it taken so long?

In a recent article in Forbes, Kristy McCann acknowledges the effects that our consumerist society has had, not only on everyday life, but also on the way we approach work. When something doesn't work we don't put any time or energy into fixing it. Instead we simply throw it out and replace it as soon as possible. 

The same goes for work. These days people view jobs as dispensable. If an employee is unhappy in their current situation they tend to just quit and look for a new job instead of trying to make it better.

The same approach is taken from employers as well. Instead of using professional development to inspire and train employees, managers are quick to replace people and search for new talent.

Those who invest in training, coaching and development for their employees see on average a 50% return on investment. Those who don't tend to have a higher turnover rate and end up spending way more money hiring new employees. 

Who is investing? 

Top companies are realizing that by not spending money on talent development, they are actually losing more - as opposed to saving. Here is a list of some companies that are setting an example for talent development: 

  • Boeing: The world's largest aerospace company has announced that they will be investing $100 million in their new workforce development programs. These programs are designed to make learning more accessible to employees at all levels of the company. 
  • Spotify: The music giant takes L&D very seriously and has released the "six instruments" they use to create a continuous learning mindset and enable fast learning within their organization. 
  • PG&E: One of the largest energy companies in the US was recognized as having one of the top-10 training organizations in the world by Training Magazine. PG&E was recognized based on ther financial investment in employee development, the scope of their programs and the close proximity in which their efforts were linked to their business goals. 

What does this mean for professional development?

Top companies are stepping up. They are realizing that in order to make more money they need to invest in their talent. The number of training initiatives offered by companies have grown substantially in recent years and is expected to continue on a steady rise. 

Want to keep up with the latest L&D news?

Sign up to our newsletter

Last updated: 25 Feb 2020

You might also be interested in:

Last updated: 3/19/2021

10 Highly Reviewed U.S. Professional Development Courses

Whether you’re an accountant, a marketing coordinator, a civil engineer or a human resource manager, keeping your skills exercised and staying on top of industry trends is essential for offering the best service you can as a professional in your field. Here are 10 highly reviewed professional development courses available in the U.S. that we think you should check out to further your skills and your career!

Read more
Last updated: 7/30/2019

Do's and Don'ts of Conducting Performance Reviews

Employee reviews help you evaluate each employee’s contribution to your company, while also providing constructive criticism that will help them to grow. In this article, we list the do’s and don’ts of conducting performance reviews, so that you and your employees can both benefit.

Read more
Last updated: 6/30/2021

Building Resiliency to Gain an Edge

L&D professionals recently cited resilience and adaptability as the 2021 "power skill" for employees to develop. In response to this finding, findcourses.com published the article, Resilience: the Power Skill of the 2021 Workplace. We asked ImprovEdge, one of our training providers, to contribute its expertise to our practical understanding of this transformational skill. Read on to learn why ImprovEdge says resilience is a central characteristic of skillful improvisers.  

Read more
Last updated: 10/5/2020

Highlights from SHRM 2018 Annual Conference & Exposition in Chicago

SHRM's Annual Conference & Exposition is the biggest HR conference in the world. Find out why there is so much excitement around SHRM's Annual Conference and what some of the top highlights were this year!

Read more
Last updated: 5/18/2021

5 Top Tips to Balance Company Goals With Employees’ Wellbeing

As a Human Resources professional, how do you negotiate the delicate balance between meeting business objectives and keeping employees happy? Here are 5 best tips from HR insiders.

Read more

top10_DEI

Diversity, Equity, and Inclusion courses

See the list

L&DReport2022

Our newsletter
Leave your email and stay updated on professional training