2019 brings much promise to the world of Human Capital. With machine learning, predictive analytics, and AI coming more to the forefront, the future looks promising. Forward-thinking HR leaders will begin to harness the power of information, both macro, and micro, to drive more individualized developmental paths for their employee base. It is a hopeful and exciting time for the individual learners within corporate organizations.
Our CEO, Kristi Chickering, is known to walk into a room and say, “I give you permission to fail. I have your back.” For some of us, this is truly liberating. While for others, this can be confusing. What does failure mean for someone at work going through his or her daily routine? Failure is a part of experimentation and trying to do new things, or improve things, making things better, faster, cheaper and creating new strategies and solutions. Experimenting also means that the outcome will not always match up to expectations. All companies need to think about experimenting.
Every year, companies across the US spend an average of $70 billion on learning and development alone. This focus on L&D first came to fruition near the end of the great recession, and now studies suggest development and retention as the new mantra of the C suite. And yet, despite the monetary focus, L&D is still the first area cut during a corporate downturn, even today.