We have talked in depth about the benefits of using data-driven strategies to improve the functionality of the workplace. There are plenty of case studies of companies using big data to streamline many elements of their business models.
One of the most novel applications of big data lies in the field of employee training and development. Companies have found that data-driven educational initiatives can be especially effective.
Big Data is Making Employee Training Much More Effective
Denis Kostusev, VP of Business Development at Itransition wrote an article on the countless benefits of using big data in corporate training. Kostusev writes that it can be very effective when employed properly.
“My company also actively uses big data in-house to forecast and increase sales, and these insights are used for continuous training of our sales reps. I’ve found that operationalizing all this data won’t necessarily require you to create an entire learning management system from scratch — your data analytics team can benefit an already existing platform or help you inform a new approach to training,” Kostusev wrote.
There is no greater resource for an organization than its employees. For any organization, losing a skilled, qualified and high performing employee can be upsetting, which points towards the need for maintaining a healthy employee turnover rate. This is possible by investing in data-driven training and development initiatives for employees.
Many organizations fear that when an employee is given L&D opportunities, they use it to get another job based on those new skills. But not providing any training can make employees feel that their personal growth is stunted. In fact, a lot of candidates looking for a new job or a job change are more likely to opt for an organization that invests in training them for related skills.
This makes it crucial for an organization to mention L&D benefits when recruiting new employees, especially when they use the most effective processes that are backed with big data tools. It serves the following purposes:
- It’s a necessity:
When you invest in big data programs that are designed to upskill your employees, it helps them in achieving organizational targets efficiently. It keeps them at the top of their game and makes them better suited to face any challenges. It also increases their productivity levels, which makes it a necessity for an organization to provide good L&D opportunities to all its employees.
- It reduces employee turnover:
Having a qualified employee working with an organization for the long term is highly rewarding. This makes it crucial to start employee retention right from the beginning by providing relevant training solutions since the time an employee is hired. By doing this, an employer knows that the new employee is contributing to the company’s overall success.
The benefits tend to be a lot more significant when these training programs are backed by data analytics. Data analytics can determine which training approaches are most appreciated by employees.
- It produces greater ROI:
Employee development is not a job perk, it is an investment. When an organization invests in data-driven L&D for its employees it provides them the necessary knowledge of relevant tools and technologies to excel in their work. This allows them to better contribute to their work, which has a big return on investment for the company.
- It increases productivity:
It is crucial for your employees to keep growing in their career in order to contribute better to the company. By utilizing development opportunities through eLearning or mobile learning solutions, they are able to undergo training regardless of their location and at their own pace. This improves their performance and increases business productivity.
- It increases employee job satisfaction:
When an employee has no opportunity to advance in their career, they start feeling dissatisfied with their job. A dissatisfied and disengaged employee soon becomes a liability for an organization. Providing development opportunities allows employees to gain a new skill set which significantly improves their satisfaction with the job.
- It improves company reputation:
In today’s day and age, candidates want to work with companies that promote a culture of learning. Companies that invest in providing training gain a stellar global reputation through employee reviews. This draws eligible candidates who are interested in growing consistently. It becomes a win-win situation as such candidates are highly valuable for any organization in the long term.
- It builds a loyal employee base:
When employees are challenged to grow through training, they are motivated and fulfilled with their jobs. Receiving L&D opportunities from their employer makes them feel grateful towards their employers and builds loyalty towards them. This ensures they stay longer with an organization and reduces the expense of hiring new employees.
Data Driven Training and Development Proves to Very Useful
Big data is the basis for many new training and development programs across many companies. An organization’s commitment to employee development inspires employees to commit more to their work. It pushes them to be at par with the latest tools and technologies which directly influences their performance. This also becomes a key factor in stopping employees from quitting their job in the early months of their employment.
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