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Why Corporates Need to Hire a Chief Learning Officer Now?

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Learning has become an inseparable part of today’s workforce, as rampant changes are being observed in EdTech, and learning methodologies. The world has gone digital, and so is education.

Corporates are keen on delivering continuous learning opportunities to their employees in the wake of rapidly-evolving technologies, and a fast-changing business environment. But, to materialize the plan, they need a CLO (Chief Learning Officer) who can oversee, implement, and design learning programs in line with the organizational needs.

A Few Vital Statistics That Establish the Relevance of a CLO in Making a Company Future-Proof

  • A mere 38% of L&D (Learning and Development) professionals think that they are equipped to meet the needs of tomorrow’s learners
  • 70% of the current workforce learns from sharing blogs and articles among their peers, and not from their respective organization’s L&D programs
  • 77% of employees believe that their self-learning practice to upgrade their career is more effective than studying the learning modules provided by their organization
  • More than 70% of the employees globally, said that they learned something career-oriented leveraging an article, video, or a book in the last 24 hours
  • 61% of people would put in more time in self-learning if they would get a professional credit or reward in return
  • Only 21% of people rely on their company’s L&D department, or HR team, for learning opportunities
  • 69% of people expect support from their boss or mentor for job-related learning
  • 75% of the workforce are investing their own money on career-related training & learning
  • Employees spend 5 times more in terms of time devoted to learning by themselves than from their employers

Keeping in mind the above-stated facts, it becomes critical for any organization to invest in a CLO (Chief Learning Officer).

Key Responsibilities of a CLO

  • Conceptualizing and implementing training programs and courses that are strictly aligned with the organizational needs
  • Assessing performance of employees across departments
  • Based on the employee evaluation, providing feedback, and incorporating personalized changes in the learning program for each individual
  • Analysing the effectiveness of the adopted learning program. This includes:
  1. Assessing how the employees are reacting to the implemented learning program
  2. Determining whether the learning goals are benefitting the business in practical
  3. Gauging how the implemented learning program is making employees productive and efficient?
  4. Finding how the learning programs implemented within the organization are helping customers

3 Reasons to Hire a CLO Now

#1. Employee Engagement and Retention

Studies indicate that a majority of millennials see L&D as a non-compromising element in a company’s culture. Moreover, it is even more beneficial to the employers, as, amid the process, key skill sets get built within their workforce specific to the enterprise necessities. Meanwhile, future leaders and managers emerge out of the whole process of skill upgradation.

#2. Capability Development & Succession Planning

With the generation of Baby Boomers exiting the workforce, there will be an acute shortage of leaders and mentors in the corporations in the years to come. Keeping this in mind, the current professional development activities are only going to save the day in the upcoming future when there will exist a leadership vacuum.

#3. Continuous Increase in Organisational Productivity

Employees in the current times, look L&D as a reason to be loyal to their respective organizations. With constant learning provided to them in line with their career-growth, there will be a stronger engagement, eventually resulting in increased productivity.

A CLO can play a critical role in boosting the morale of his workforce by designing meaningful learning programs that cater to an employee’s career goals and promote business growth at the same time.

The Future of the Role of CLOs

The role of a CLO is bound to grow within organizations across the globe as the learning needs will further rise in demand. The position could serve as a differentiator to a company’s fate in the years to come.

 

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