Eighty-nine percent of Indian companies are expected to increase the time and effort they spend on Learning and Development (L&D) of their critical workforce in the near future, according to the report, `Learning and Development at Workplace: Changing Paradigms, Emerging Trends’. The report is the result of the joint efforts of Grant Thornton India, 24X7 Learning, and the Indian Institute of Management Kozhikode. The study is based on a survey of the L&D practices of the top 150 corporates of India with emphasis on the corporate training market.
With the shelf life of information dropping drastically, and employees re-training spread across much larger diverse geographies, the dynamics of the L&D industry is rapidly changing. “But there was no detailed report on the sector from India. We realised that those involved in L&D do not have a hang on what is the requirement of this segment, what L&D managers need and what are their expectations. The report will benefit both vendors of L&D as also corporates, that is, the participants of L&D, government policy makers and others,” says Karthik K S, Founder and Executive Chairman, 24X7 Learning, the pioneers in e-learning in India.
The report has thrown up some interesting insights. For instance, it was found that, in sharp contrast to past practice, organisations nowadays prefer performance over tenure when it comes to nominating employees for professional courses.
Eighty-four percent believe that e-learning is an efficient and cost effective tool for organisational learning and its popularity continues to grow in the country. However, the report shows that its use as a tool for L&D is still at a nascent stage as compared to the developed nations such as the US and UK. “E-learning is still not a major mode of delivery. This represents an opportunity to increase the share of e-learning by delivering focused content to companies,” states the report.
The report further reveals that about 57 per cent of learning and development programs are funded entirely by organisations. A whopping 95 percent believe that management development programs help groom employees for leadership roles. In more than half of the organisations, higher education programs are part of the employee benefit schemes, reveals the report. In addition, the report also discusses the case studies of several companies and their experiences with L&D and e-learning.
Grant Thornton in India is a member firm within Grant Thornton International Ltd. The firm has today grown to be one of the largest accountancy and advisory firms in India with over 1,500 staff across the country. The firm specialises in providing assurance, tax and advisory services to growth-oriented, dynamic companies.
24×7 Learning is one of the foremost pioneers in the e-learning field. The company has partnered with over 225 global organisations across all verticals, to successfully address their training challenges and achieve their business goals. Through its end to-end, cutting-edge training solutions, 24×7 Learning has met the learning needs of over 2.5 million users by transcending geographical barriers, and providing learners with an engaging, intuitive, collaborative and personalized learning experience. The Indian Institute of Management Kozhikode (IIMK),is a joint effort between the Government of India and the Government of Kerala and is one of India’s premier Business Schools.The institute attracts some of the best talent from across the country, year after year. IIMK started with its first batch of 42 students in 1997 and has grown tremendously over the years with current batch strength of over 350 students. Today, IIMK is the fastest growing management school in the country.
The L&OD Roundtable is Asia’s fastest growing forum for Strategic HR L&OD professionals, with over 5800 members globally. Aimed at building capability among HR practitioners, the L&OD Roundtable is a not-for-profit forum which provides application oriented knowledge. The L&OD Roundtable was essentially conceived as a community of like-minded professionals in the areas of Learning, HR and Organisation Development, coming together to learn and grow as a whole.
The report was released at the recent Best Talent Management Practices of Asia Seminar & Awards 2014, by L&OD Roundtable, held in Mumbai on September 18, 2014.
Source: Times of India