Developing talent is job one for every leader in an organisation.
Why is Capability Building so important for an organisation?
The winning organisation needs to create a culture of continuous improvement and capability building and should be aligned to a university or a learning institution .
This will be a major factor of why the brightest and best would want to work in your organisation!
When you’re talking about the war for talent, when you talk about talent being a differentiator for companies and their performance, what’s the investment you’re putting into people?
Lifelong learning and capability building is a key piece of the puzzle in the #nexttech Revolution and the #futureofwork
The successful organizations will be those that capability build as part of their core values - making talent development a CEO-level priority.
Building capability builds value and grows your asset base .
So what is capability building
Capability building - (learning in an organisation ) is about continuous reinforcement and constant application of the new skill, so that it’s not just something that’s understood but it becomes part of their behavior and DNA
Capability building is about building resilience and adaptability, topical training, executive coaching, and a whole swath of things that makes your workforce a lot more effective.
How to capability build
Michael Park - a partner at McKenzie say learning should not only be event based training - but needs to be blended and continuous - with technology, remote learning, more microlearning as well as event-based learning - learning needs to include more simulations that truly immerse the learner as they do their job versus as a separate action.
Instead of flying all the way to see a plant, you’ll have AR/VR [augmented/virtual reality] technology that will help you do virtual visits.
The courses and the capability-building workshops of the future are going to feel a lot more tailored to the person, a lot more captivating to the audience, and a lot more effective as a result.
Liz Hilton Segal says that Capability building and Learning needs to be incorporated into employees’ daily routines and made relevant to their day-to-day success.
Instead of taking place in a separate classroom, make learning part of continuous routines , sometimes in small huddles of ten or 15 people, with a snack-size lesson, maybe 15 minutes. People could share information with one another and then combine that with things they learned through working one-on-one with their supervisor or manager.
(Our BBG knowledge share and thinktank )
It’s about bringing the skill to their day-to-day jobs—
The benefits of Capability building in an Organisation
Employees directly and tangibly saw
- their own performance improve,
- their compensation increase as a result.
- that they had grown in terms of personal fulfillment and enrichment;
- they believed they were able to live up to more of their potential.
- that they increased their overall sense of happiness and their loyalty to the organization.
- that they felt a sense of personal growth—feeling equipped to do the best possible job they can.
- that it has a direct result on your financial performance, on your ability to compete more effectively for customers, and on employee satisfaction
Spending too much time in the classroom - Is there a better way ?
The physical classroom where people come in for a week or two to learn in a concentrated way that is separate from their day-to-day job - is not time well spent; It’s not an efficient way to have someone absorb new skills and new content and then directly apply them. Nor is it necessary.
We’ve surveyed people about their level of satisfaction with virtual programs. More than 80 percent said they found the virtual programs as successful as an in-person experience.
Another benefit of digital programs, of course, is flexibility—there’s no need for a physical location, and companies can make any of their domain experts accessible to any employee in the world at any time.
What’s next in capability building
Leveraging virtual reality [VR]—for example, using VR to practice dealing with a difficult customer.
Adaptive learning, where the digital curriculum unfolds differently for each participant based on how that participant performs on quizzes or tests offered along the way.
User-generated content: participants add their ideas and the curriculum is constantly updated to incorporate those ideas, making the learning curriculum more emotionally engaging and more relevant to each person.
Here’s a thought for the Accounting profession
Should investment in human capital be capitalised over a period or written off in the year it is incurred ?
