Unlocking the strategic power of L&D in business transformation
Today, Mind Tools for Business has published the second instalment of its 2023 Annual L&D Benchmark Report. The report explores the critical role of L&D in driving business transformation and its pivotal shift from “training provider” to “strategic business partner”.
The report illustrates how the most accomplished L&D teams forge deliberate and powerful connections between activities to amplify their impact on organizational outcomes. The findings reveal that top-performing L&D teams are twice as likely to collaborate closely with business leaders who recognize the alignment between learning initiatives and the overall business plan.
Based on data collected from 912 L&D leaders in 2023, the report covers the challenges faced by L&D leaders in aligning their activities with business goals, considers how the landscape is evolving, and what L&D teams can do to achieve greater synergy with core business objectives.
Anna Barnett, Senior Researcher at Mind Tools, comments:
“Alignment is a process that needs constant attention, which is why top-performing organizations hold it at the center of everything they do. If an activity isn’t serving the business, it isn’t a priority to them. Alignment starts by getting to know the business better. Business acumen is an increasingly neglected skill for most L&D teams, but it’s essential for an effective learning leader. L&D teams cannot always rely on senior leaders in the business to define clear objectives, or to communicate them effectively across the organization. But business environments do predict organizational priorities, so with greater knowledge about the business, L&D teams can meet its needs without having to be asked.”
Download Part 2 of Mind Tools' 2023 Annual L&D Benchmark report here.