New report shows how to take L&D programmes a step further
Organisations in Australia are being urged to provide a Learning and Development (L&D) budget for each employee amid strong demand for upskilling in the workforce due to new ways of working.
Reward Gateway's whitepaper states crafting and enhancing L&D programmes is one of the 15 crucial benefits that can make a difference in employees' lives.
"Companies that provide a Learning and Development budget for each employee can not only stand out from the crowd when recruiting talent, but improve retention rates of their staff by investing in their development," the report stated.
L&D programmes offer employees an avenue for education, upskilling, and other career advancement, according to the paper.
"Why not go one step further and boost your employees' knowledge with free access to a curated library of professional development books and audiobooks?"
The need for better L&D programmes comes as 65% of employers cite the skills gap as a major barrier preventing business transformation in the latest World Economic Forum (WEF) report.
In fact, the WEF report revealed that AI and other information processing techniques are the top technology trends that employers said will likely drive business transformation from 2025 to 2030.
L&D will be particularly important in the workplace amid the rising impact of AI at work, according to Reward Gateway's report.
"Providing sufficient training on how to harness the power of these tools can not only boost productivity and drive business goals, but reduce the anxiety caused by these new ways of working," it stated.
Find out more about the other benefits that can make a lasting impact on employees' lives in this whitepaper from Reward Gateway.
