3 L&D Trends Corporate Learning Providers Need to Know
There is no doubt that the Covid-19 pandemic has put great demand on the need for learning in corporate environments. 1 billion jobs will need to be reconfigured over the next ten years, according to research from BCG. Companies have undergone massive and sudden transitions involving new business models, remote work, and employees with new job responsibilities. The role of the Learning & Development team has never been more critical.
This brings an advantage for corporate learning vendors who can help L&D professionals meet the needs of their companies. The most compelling sales outreach and marketing campaigns start in having a strong understanding of who you're selling to in order to make sure you are communicating how you can help them.
Here are 3 current L&D trends to consider for your next conversation:
1. The need for virtual corporate learning programs is here to stay.
Companies will need to upskill or reskill approximately 60% of their workforce over the next two to five years. The trend towards virtual learning has been increasing with many companies planning for a transition from in-person to virtual, but the pandemic has accelerated the change in short notice. 77% of L&D professionals in a report from Adobe are now using virtual instructor led training for soft skills training, leadership development, and employee on-boarding. 65% say this shift to virtual learning is permanent, even after the crisis.
2. L&D professionals don't have a positive outlook for the year ahead.
Only 54% of L&D professionals are optimistic for the next 12-18 months compared to 71% last year), according to a survey by Chief Learning Officer Magazine. L&D teams have a lot of work ahead of them with continued uncertainty around how this pandemic will affect the workforce. They also don't have the executive-level support they need. 27% of L&D professionals say their CEOs are champions of learning, according to a report by LinkedIn.
3. L&D budgets are not increasing.
Despite the increased demand and need, L&D budgets are not rising. Since the crisis, 45% of L&D teams had no change in budget and 44% had a decrease. When it comes to the next 12-18 months, only 30% of L&D professionals expect an increase.
If you're a provider of virtual corporate learning solutions, this is your opportunity. However, know that L&D teams are under a lot of pressure. You need to show empathy and provide confidence that you will be able to help them achieve their goals for their changing workforce.