The shift to a digital and knowledge-based economy means that a vibrant workforce is more important than ever. Companies are relying on their intangible assets—skilled employees, exceptional leaders, and knowledge. These trends have elevated the importance of the learning and development function. How the L&D function adapts to meet the changing needs of organizations depends a lot on how training and development are provided to employees and leaders.
Often, learning and development teams deal with poor choice of content delivery methods, lack of spend visibility, and managing and engaging with suppliers. The idea of partnering with managed learning service providers is the potential solution to deal with such challenges related to learning and development activities. We have listed here some of the advantages of co-sourcing with managed training service providers.
1. Saves Time
Organizing and managing learning takes up a lot of time. Leaders should spend more time governing the learning experience and other relevant tasks requiring their undivided attention and involvement. They should not be very involved in the administrative functions of learning and development of their company.
With Managed Learning Transformation Services, such tasks can be handled by the outsourced team. Therefore, leaders can invest their time in governing the learning experience by:
- Giving valuable input in formulating the learning strategy and focusing their experience on driving that strategy forward.
- Finding innovative ways to help employees realize the importance of L&D.
- Operating in such a seamless manner that their company sees L&D as an ‘investment’ rather than a ‘cost.’
2. Leverage High-Quality Learning Solutions
With managed services, leaders can ensure that they are leveraging high-quality learning solutions. Partnering with a firm for the specific purpose of L&D, the outsourced team takes all steps necessary to provide impactful and insightful learning experiences. These steps can include changes in the existing procedures, hiring new suppliers, etc.
3. Improve Employee Productivity, Performance, and Retention
As leaders now have more time to invest their expertise in developing the learning strategy for their employees, it will be suitably aligned with business goals as well.
High-quality learning programs help leaders meet the company’s requirements without neglecting the needs of their employees. By steering the employees in the right direction with such solutions, employees’ performance and productivity are enhanced. As a result, employee happiness will increase, which directly impacts employee productivity, performance, and retention rates.
4. Efficient and Streamlined Processes
By partnering with managed training service providers that have a deep understanding of the ecosystem of L&D, companies can streamline core processes and can effectively respond to ever-changing requirements. The companies can identify loopholes, eliminate redundant procedures, and improve overall efficiency.
5. Cost Effective
Firms that offer managed learning services have extensive knowledge of solutions that last longer, reduce direct costs, and are scalable. The companies can tap directly into their expertise to reduce costs and leverage high-quality L&D services within their budget.
Owing to the benefits of managed learning services, organizations can improve their overall functioning. Furthermore, enhanced effectiveness, functioning, and productivity of processes and employees also result in increased ROI. Hence, L&D efforts can be simplified effectively by co-sourcing with the right managed services partner.
Learn more about how Managed Learning Transformation Services are enabling companies to adapt, thrive, function, and perform in an ever-changing environment. Please give it a read.