A growing need to tie training outcomes with performance reviews is sweeping over the L&D discussion rooms across major global companies. Some companies consider performance reviews as the most appropriate interaction where managers can assess employees based on the additional parameter of ‘how much have they learned’ since the last meeting.
Performance reviews, and in particular the feedback process of the review is being looked at as a great initiation point to introduce training and learners. Feedback segments of the review are where managers can correctly guide learners by directing them to take up specific training in order to overcome any weakness that is uncovered during the performance review.
Tying training and performance reviews together is a very logical step since performance reviews exist for the sole purpose of helping employees perform better at work and so does training.
Tying training and performance reviews is actually a hot topic right now. Click the link to download our whitepaper on why it is so important!
There is an economic slowdown in progress across the globe and there may be an impending recession around the corner. Current global market experts are informing businesses to streamline and optimize their expenditures just as a precautionary measure. Training being a resource-consuming activity also falls under this umbrella.
Although recessions and slowdowns generally call for a complete halting of overhead costs, we have for long considered training, not as part of the overhead costs, but rather operational costs. In times of an economic slowdown, it is advisable to budget expenditures and tie their leaking ends instead of completely halting all activities.
Read more about why training is even more important during an economic slowdown.
The general consensus between L&D experts on the best way to ride the economic slowdown is by addressing the following loose ends:
- Switch to more affordable learning management systems whose primary focus is on training learners. Look for LMS platforms with minimal fluff and no bells and whistles because these extra features often result in your company paying more for the training platform.
- Avoid expenditure on off-the-shelf courses unless the topic is general in nature. Off-the-shelf courses are often looked at as cheaper alternatives to custom eLearning, but they often hold little to no value since these courses are designed as generalized training content. We recommend not investing in such courses only to make your content library appear full as such courses will yield minimal results.
And finally, keep your learners’ career progression within your organization and externally in mind when building training for the upcoming period.
According to our conversations, such training is instantly a great hit among employees with maximum enrolments and high completion rates. But it does not end here. Such career development options also work as great candidate magnates to fill new roles with talented employees who are attracted to such growth opportunities.
Just because the possibility of losing trained employees is real, one should not avoid training employees completely. It’s actually quite detrimental to the overall company’s progress if training activities are shunned for the fear of losing trained employees.
We recommend building learning and development processes that eventually become the company’s culture, it’s how you’ll never have to worry about exiting talent!
Who are We and Why Should You Contact Us?
We are eNyota Learning, an eLearning development agency with 15+ years’ experience in the field of eLearning development. We are the leading eLearning development partners to some of the biggest brands in their respective industries and we aren’t limited to any one industry ourselves. From employee training courses to assisting other training companies build and resell our training products as their white labelled offerings, we do it all!
The contributing reasons to a recession may not be so straightforward, however, following the 5 ways training can STOP recession challenges, your company improves its odds of surviving its brunt.
To know more about us and how we can assist your organization, reach out to us at email@example.com or click this link to fill a quick call back form. Also, you can try our LMS here.