Section 1.2: Focus on Investing in the Workforce

Investing in the workforce is an important part of learning and development. The only way for an organization to move forward is if its employees are on board and are a part of the organization’s vision (Willyerd, 2015). How can this be done?

There are many different ways, but we will highlight some of the methods successful organizations use to engage their workforce. Preparing and developing a future workforce requires developing talent, implementing learning programs, and performing succession planning; all of which must be done at all levels of the organization (2015). If these are implemented efficiently, it can help the organizations achieve high-performer status. HR departments must also prioritize training and coaching for their employees. These initiatives can help train and equip the next generation of leaders, especially millennials and members of younger generations. These groups are highly interested in learning and growing their skills, which is vital to developing their capabilities to lead future organizations as baby boomers retire (Willyerd, 2015).

Another way organizations can invest in their workforce is by changing their strategies to adapt to changing workforce demographics. As the workforce is becoming increasingly filled with millennials, organizations need to identify the best ways to invest in them (Willyerd, 2015). How do compensation plans need to change? And what learning and development training processes will be beneficial? Willyerd suggests that this can be done by providing constant feedback to workers, conducting regular performance reviews and incorporating developmental planning (2015).

Lastly, employees should be rewarded based on merit and not tenure. Workplace dynamics are constantly shifting. Some employees do not stay with the organization a long time because they are looking for growth opportunities that are not available or they feel unappreciated.  Providing rewards based on effort, results, performance and contribution will engage the workforce for a longer period.  This will encourage employees to continuously work towards promotions as they will be motivated by the rewards and the prospect of becoming top performers (Willyerd, 2015).