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Business Intelligence

Published February 2008

A Look Ahead: The Training Industry in 2008

  

  Susan Lee

In his Psalm of Life, Henry Wadsworth Longfellow wrote, “Trust no future, however pleasant!” In spite of that admonition, the CLO Business Intelligence Board has some predictions about what the learning industry can expect in the coming year. And overall, things are looking, well, pleasant.

As the learning industry looks back on a year of accomplishments, it also has to keep an eye on the major trends that will shape its environment in 2008. The forecasts of Chief Learning Officer magazine’s Business Intelligence Board are overwhelmingly positive, but there are a few findings that might come as a surprise to learning practitioners.

Most organizations are optimistic regarding employee development for 2008. Generally, people are optimistic about the future, but specifically, the two most common reasons for optimism in 2008 are an increase in support from senior management and a heightened demand for training and development:

• Increase in support from senior management: More companies realize that training can create higher performance and can be an enabler of corporate strategy and transformation. In addition to improving employee skill sets to work more efficiently, training shows employer commitment to employees. Employees then become more engaged and work both smarter and harder, creating a win-win situation for the employer and the employee. Also, an effective learning organization can help position a company as an employer of choice — a critical designation in today’s competitive market for talent.
 • Heightened demand for training: The heightened demand is arising from current and anticipated workforce shortage. As competition grows for skilled labor and qualified talent, there is more emphasis on employee development and “train to retain.” In today’s knowledge-worker-led world, talent is a key differentiator among companies, and the ability to train employees effectively is a necessity.

LMS and Knowledge Management Increase Impact on Training
While many of the most impactful activities for 2008 are the same as they were in 2007, there are a couple key differences — learning management systems (LMS) and knowledge management have each become more important.

The LMS is fast becoming the single most important learning technology investment for companies. Nearly 50 percent of companies will in invest in their LMS to upgrade existing systems, consolidate into one LMS or integrate with other talent management solutions.

Knowledge management is used to capture processes, skills and context often lost when experienced employees retire or change jobs. Thus, knowledge management is increasingly important as companies face the challenges presented by aging (and soon-to-retire) baby boomers.
However, the most important activities continue to center around competencies, leadership and instructor-led training (ILT).

• Competencies: Competencies have always been the backbone of training. Today, however, amid the shortage of talent, competencies have taken on greater significance. In order to address current and future vacancies, organizations are looking to competency models to help them identify skill gaps and develop the necessary skills internally.