How Business Leaders Can Prepare For The Learning Revolution

How Business Leaders Can Prepare For The Learning Revolution

Daphne Kiss, CEO of WorldQuant University .

Lego is not the company you think it is. With Epic Games' $1 million investment and acquisition of BrainPOP, the company is increasingly positioning itself as a leader in education technology, and the company's major investment in 2022 is not its first foray into learning and education. For decades, Lego has been successful to make the learning experience greater. The future of learning is increasingly virtual, and Lego has reinvented itself to adapt to this reality.

Another learning revolution is happening around the world. In 2020, the World Economic Forum found that 50% of workers who intend to keep their jobs will need training or retraining by 2025. This is the next big challenge for education. As more people strive to learn and improve, companies must find ways to optimize continuous learning.

As a company like Lego can reinvent itself to meet the needs of the next generation, what lessons can business leaders learn from others to meet the needs of the future workforce?

play with a goal

A study found that children who learn through play develop motivation, persistence, creativity and self-confidence that their more traditional peers lack. Training and coaching sites like Centrical, BetterUp and ReSkills understand that even mature brains can respond positively to stories, challenge and reward. They design individual and group learning games and then monitor employee engagement and performance.

Learning through gamification, simulation and other methods can increase neural plasticity by creating new pathways in the brain;

Know your risks

Over the years, companies have worked to implement new ways of learning. Since 1979, Motorola's CEO has developed a five-year training program to train employees. Eventually, they launched Motorola University, a global university that brings Six Sigma to the business world.

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Motorola's Six Sigma training program continued for decades with success at GE under the leadership of Jack Welch, who spent $1 million to train employees in the system. Since then, the system's popularity has waned, but these stories remind us of the danger of under-striking in improving skills and updating training programs.

During the global pandemic, the development and use of educational technology has exploded. It makes learning more accessible, "both to help students with learning problems or disabilities, and to make learning less dependent on the place".

Digital transformation happened long before Covid-19. However, as the pandemic forced businesses to go fully online and remotely, digital adoption accelerated for several years. Covid-19 forces companies to invest more in digital skills development and training. Small pilot programs and too cautious investments in digital are also big risks.

As pedagogy and methodology have changed, teaching tools have also changed. The digital space is studied where. It is imperative that companies migrate to the digital space to train and update their workforce and equip them with the right digital skills to support digital transformation.

Three keys to developing and training skills

1. Technology must be at the center of training and updating efforts.

While some organizations struggle to overcome the digital divide, other companies are already experimenting with using virtual reality simulations to improve. After using game-based simulations, 88% of participating CEOs at a digital agency reported “significantly better understanding of their responsibilities and improved decision-making skills; Mashed potatoes."

The results are great, but here's the gist. Simulations outperform previous classroom learning modes and reduce total learning time by 70%. Specifically, simulation uses technology to do what the classroom cannot.

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For those new to education and technology development, it's important to start with clear learning objectives. Decide what skills you want to acquire and what results you want to achieve through training and development. This will help you focus your learning efforts and help you choose the right technology tool for your needs.

When you're ready to get started, test the water. Take advantage of the free trial or demo version to test the user experience and make sure it meets your needs. There are many online learning platforms and resources that offer courses, tutorials and certification programs on various topics. Try as many as you can until you find the type that works for you.

2. Training and additional training must be free and accessible.

Tyson, PepsiCo and other large corporations have formed partnerships to offer debt-free education benefit plans to their employees. By making these offerings free and accessible, companies can encourage employee participation both in their current roles and in training and continuous improvement programs that help them advance their careers.

Businesses also need to leverage their network. Create mentoring programs where employees are paired with experienced leaders who can share their expertise. Another option is to invite industry experts to conduct training sessions or seminars for employees.

It is important to note that one of the most important things companies can do to ensure this is possible is to offer flexible work arrangements that allow employees to balance work and study commitments.

By providing free and accessible resources, companies can foster a culture of lifelong learning and promote employee engagement and career advancement.

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3. A large investment is required.

2019 PwC has committed to closing the digital divide and investing $3 billion in workforce training.

To ensure that training and skills are properly prioritized and funded, business leaders must effectively communicate their benefits to the wider organization. It is important to emphasize how these initiatives align with business goals and how they respond to specific business needs. For example, if a company is facing retention issues, show how a training and education program can help improve employee retention and improve job performance. According to a 2014 study, new hires were 42% more likely to stay with a company when they received on-the-job training.

By supporting education and training in this way, business leaders can gain support and input from managers and other decision makers.

These companies show us that change is still possible. By embracing new technologies and innovative learning methods, companies can promote lifelong learning and prepare employees for the future.

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