The economic news is turning optimistic. Last week several economic indicators came in ahead of expectations. Foreclosures in some of the hardest hit states are starting to stabilize. Geithner is quoted as saying that the economy is beginning to recover. The stock market is continuing to rise. Unemployment is still high, but perhaps the worse really is behind us.
If that’s true, do you know what’s next? I don’t mean for the economy. I mean for your learning program? This past year has hit many learning programs hard. Many have been hunkered down, cutting costs and just trying to survive. But now that things are slowly improving, companies will begin positioning themselves for the next cycle of growth. Are you ready to help your company do this?
Something to consider is working with your company’s talent management program (or starting one). Learning programs are key to talent management programs (see our white paper). And effective talent management is key to a company’s success. Consider recent research from Bersin and Associates which points to the incredible business returns experienced by those with intermediate or advanced talent management programs.
· They have 17% lower voluntary turnover rates
· They have 41% lower turnover rates among high performers
· Their median revenue per employee is 26% higher
· They are 28% less likely to have had a major layoff in 2009
· They are 109% more capable of retaining high performers
· They are 87% more capable of “hiring the best people”
· They are 92% better at “responding to current economic conditions”
· They are 144% better at “planning for future talent needs”
So if you don’t know what’s next for your learning program, talent management seems like a great place to start. What do you think? Are things starting to turn around? What’s next for your program?