Our most recent Learning & Development survey reveals that the overall NPS is -1 when asked how likely they are to recommend their company as a place for continuous learning and development to a friend or colleague. The absence of personal development plans and regular discussions on skill and talent development with managers are reasons for the low number, leading to several consequences for both organizations and employees, starting from stagnation to inefficient resource allocation.
According to the World Economic Forum,“23% of jobs are expected to change by 2027, with 69 million new jobs created and 83 million eliminated.”
To stay ahead and adapt to the change, organizations need to ensure that their people have smart and systematic personal growth plans that will help them build the skills they need, to stay relevant. A well-functioning growth plan will be a game-changer for employees and organizations, helping them stay skilled and competitive in their careers and in the AI-driven digital environment.
A smart process starts by identifying the strategic skills your organization needs, to stay relevant and succeed. By identifying core skills and communicating them in a visual format, you are heading for better strategic success and building a culture of continuous learning and development. These act as the first signals and drivers for individual growth and development.
There are 2 additional drivers that can influence an individual's career growth. One of them is the list of skills and competencies that are essential to master in their current role. Conducting an initial skill assessment can help identify the first skill gap, which can then be addressed through a personal growth plan.
The second driver can be achieved by exploring diverse career paths. A well-planned career development path can help employees enhance their skills and knowledge, leading to mastery of their current or future roles. A career journey tool such as Talbit can showcase the skills required to take the next career step.
Once the skill gaps or focus skills have been recognized, it is time to start planning the employee’s personal development plan (PDP) or growth plan, as we like to call it. A well-thought-out plan allows employees to set and follow goals that are directed toward acquiring the right competencies, rather than randomly searching for and learning various topics. Instead of going to the learning management source and picking 10 courses, which not one will be completed, a smart plan will help select 1 or 2, learn the content, and find tasks and work assignments to apply those skills.
A personal growth plan can include a long-term vision or career goals, providing the employee a sense of purpose and direction, and motivating them to stay committed to skill development over time. A plan like this encourages a commitment to continuous learning. It's not just about acquiring skills once, but about keeping up with industry changes and evolving alongside them.
In a rapidly evolving digital landscape, where new technologies emerge regularly, continuous learning is crucial to stay ahead of the curve and remain relevant.
As the plan moves forward, regularly assessing the relevance of their skills and updating the plan accordingly helps the employees remain adaptable. This agility is crucial in rapidly changing industries. With the rise of automation and AI, job roles are evolving, and employees who can adapt and acquire new skills will have a competitive edge.
A growth plan helps employees allocate their resources effectively. This includes time, money, and effort, ensuring that they invest in the most valuable learning opportunities. A smart plan works as a navigator, guiding people in their busy work schedules. It will help them prioritize and invest in areas that will yield the greatest return on investment in terms of skill development and career growth.
Setting specific goals and milestones in the plan enables employees to measure their progress. They can see how their skills are evolving and adjust their efforts accordingly. By tracking their progress, employees can stay motivated and make informed decisions about the areas they need to focus on for further growth. The tracking of skill development will also contribute to the organization’s skill view, helping leaders and decision-makers make data-driven decisions on workforce planning.
Are the skills being developed quickly enough? Do we have projects and tasks, where people can practice their new or improved skills? Do we need to do any extra steps, to ensure the right skill levels?
With the proper data and tools, management can take action and keep future-proofing their organization.
Smart growth plans include regular check-ins with coaches, managers, and maybe even peers who can guide and support one in their skill development. These check-ins help keep focus on the right and most important matters, also acting as arenas for providing valuable insights and opportunities. A year has 52 sprints and so much can happen during 1 sprint. Therefore, when check-ins happen in a frequent manner, there is a great opportunity to communicate possible changes and adjust the plans accordingly, before it's too late.
As employees develop new skills and knowledge, they gain a competitive advantage in their roles. Staying skilled and competitive reduces the risk of obsolescence and job displacement. It enhances an employee's and organization’s ability to weather economic downturns and industry disruptions. By continuously developing their skills, employees and orgnaizations become more adaptable and resilient, making them less vulnerable to job market fluctuations and keeping them competitive.
In a fast-paced, ever-changing work environment, a smart and systematic personal growth plan is an indispensable tool for any employee looking to maintain their edge, adapt to evolving requirements, and thrive in their career. By investing in their skill development, employers can unlock their full organization's potential, seize new opportunities, and achieve long-term success.
Talbit's unique and innovative tool provides organizations big and small a vechile to future proof their people and keep them skilled.