Where Companies Go Wrong with Learning and Development
Organizations spent $359 billion globally on training in 2016, but was it worth it?
Not when you consider the following:
75% of 1,500 managers surveyed from across 50 organizations were dissatisfied with their company’s Learning & Development (L&D) function;
70% of employees report that they don’t have mastery of the skills needed to do their jobs;
Only 12% of employees apply new skills learned in L&D programs to their jobs; and
Only 25% of respondents to a recent McKinsey survey believe that training measurably improved performance.
Not only is the majority of training in today’s companies ineffective, but the purpose, timing, and content of training is flawed.