Key Takeaways from findcourses.com’s L&D Benchmarking Survey 2018
For their U.S. L&D Report 2018, findcourses.com surveyed a number of L&D professionals from companies across the country in order to learn how they measure their impact, invest in talent, and how different levels within the organization feel about corporate training.
They only included survey results from participants who manage or direct learning initiatives within their organization in order to keep the data as relevant as possible. Companies with increased revenue over the last year were also segmented in order to understand the relationship between L&D and company growth.
Based on these statistics, findcourses.com identified five key takeaways and current trends in today’s professional training environment.
Number 1: Leadership and management are the highest development priorities
Regardless of the industry or size of the company they work within, L&D professionals surveyed are highly focused on developing leaders within their companies
Number 2: Large companies appear hesitant to reinvest revenue increases into L&D
While large companies spend above average on training per individual, L&D professionals surveyed who worked for large companies were less likely to predict an increase in their budget than those working for SMEs.
Number 3: Proving the business impact of training is key
Of L&D professionals surveyed, those who reported that they track the ROI of their training efforts also reported increased resources for their department, higher satisfaction with their performance, and more buy-in from executives. The report also includes an in-depth article on how to effectively measure the ROI of training based on the advice of experts in the field.
Number 4: Coaching is correlated with revenue growth
The survey revealed that L&D professionals in companies who reported increased revenues for the last year utilized internal and external coaching more than any other training formats for senior members of staff.
Number 5: The key to engaged staff is executive buy-in and technology
Survey results showed that staff highly engaged in learning was correlated with a close working relationship between the L&D department and executives as well as use of learning technologies within the company. With interest in employee engagement at an all-time high, this correlation deserves further exploration.
To learn more about the findings in the survey and to read articles in the report covering learning culture, measuring the ROI of training, and VR in professional training, see the full report above. If you would like to contribute to next years report, the survey is open now!