Learning & Development Strategy: 7 Considerations to succeed in 2024

What is the essence of a Learning and Development Strategy?

The current business environment is fast-paced, demanding and constantly evolving. Global general management leaders need the skills to face ever-new situations, so their development as leaders can’t be left to chance. A good learning and development strategy incorporates senior executive training, so their leadership skills are continually sharpened.

In a company with a clear and effective learning and development strategy, senior executives know that the talent pipeline is secure: team members have received appropriate management skills training to fulfil their individual roles and the management succession plan is solid.

7 key considerations for a successful Learning And Development Strategy

1^st Consideration: alignment with overall business strategy

Ensure that your learning and development strategy is aligned with an overall business strategy, because your organization’s learning and development needs are unique. If, for example, your organization has placed a priority on brand marketing strategy, be sure to incorporate marketing courses into your L&D strategy. The design of your organizational development must be consistent and anchored towards your long-term business strategy. 

2^nd Consideration: organizational priorities

Make your learning and development strategy an organizational priority. Senior officers, such as a corporate learning officers or education executives should be able to drive their professional development and be awarded adequate budget, resources and support. Career development of senior management officials must be one of the main priorities.

3^rd Consideration: resource use considerations

Include resource use considerations in your learning and development strategy to create an effective corporate training package as well as leadership development programs.

Consider whether you will have better gains from in-house training management courses and workshops or if you can make better strategic use of resources by accessing business classes at top business schools. The former may offer advantages such as team unity and speed of program delivery; the latter enables you to tap into leading-edge business expertise. A mix of both may prove to be the winning L&D strategy.

4^th Consideration: internal stakeholder assessment

Conduct an internal stakeholder assessment to identify the various stakeholders and understand what they require from your learning and development strategy. Gain buy-in by making them a part of the employee training and development process. To take the above example of a marketing and branding priority, consult the marketing team to know and incorporate their learning and development needs.

5^th Consideration: Availability of corporate learning tools & techniques

Consider the best corporate learning tools and technique within your learning and development strategy. Some of today’s best tools for integrative corporate learning include leadership exercises, leadership coaching, guided case study analysis, flexibly balanced distance and campus learning, and real-world learning in global business hot-spots.

6^th Consideration: employee recruitment & retention rate 

Don’t forget that employee recruitment and retention are interconnected and that learning and development programs should contribute to these as part of your value proposition to employees. Ensure that expected impact on recruitment and retention is set out in your learning and development strategy.

7^th Consideration: future requirements

Consider the future of your learning and development strategy. As learning and development needs and management training tools and resources evolve, so should your L&D strategy. Build your management development objectives and enhancement goals into your learning and development strategy.