Productivity Improvement Should Be L&D’s Goal
On the train yesterday morning I read a column by Graeme Leach in City AM outlining the reasons why wage inflation is so low. The conclusion he reached was that employee productivity must rise in order for wages to rise. While I can’t say that I followed all of his explanation, it certainly made sense at a basic level.
This got me thinking about how employers generally tackle the challenge of improving productivity. The standard approach is to invest (heavily) in new operating systems that will reduce the cost of processing every transaction/customer interaction/etc. Or if the business cannot afford to expend tens of millions of pound, they tend to go for the lower budget option and initiate a Six Sigma or Lean Project to find inefficiencies in existing processes and improve them. Cheaper and quicker than the new system option, but still a considerable investment of management time, effort and cost.
I cannot help but wonder how many firms look at their employees and ask themselves how much better the business would perform if everybody who worked there learned and retained everything that they were taught. After all, no employee can act on training, no matter how good it is, if they have failed to learn and retain it.
We have conducted more than 40 million individual knowledge assessments so far this year across numerous employers and we know that on average employees retain just over 50% of what employers need them to learn to be competent at their job. We also know that Clever Nelly guarantees to close that gap so that employees learn and retain everything they are trained in.
Perhaps then the easiest, quickest and certainly cheapest way that an employer can improve productivity of their business is to ensure that each and every employee knows what that have been trained. If the average employee only knows half of what they have been trained then this inevitably will have a negative impact on their work performance.
Our clients recognise this and deploy Clever Nelly to ensure each and every employee learns and retains the essential training. Productivity benefits are felt throughout the organisation. Some clients go even further, working with the team at Elephants don’t forget to subsequently target Nelly at poor performing areas of their business.
If you don’t have a formal knowledge retention strategy in your business then the quickest, cheapest and easiest productivity improvement opportunity is implementing Nelly. Talk to your L&D team about how Nelly could make that happen. If you already have Nelly in your business and are not working with us to deliver specific business benefits, contact your Account Director today and ask about our Business Benefit Tracker (BBT).
By Adrian Harvey