TechHR
ex
L&D
UNPLUGGED
Sphere
About Us • Contact Us
People Matters ANZ
People Matters Logo
Login / Signup
People Matters Logo
Login / Signup
  • Current
  • Top Stories
  • News
  • Magazine
  • Research
  • Events
  • Videos
  • Webinars
  • Podcast

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

 

 

  • HotTopic
    HR Folk Talk FutureProofHR
  • Strategy
    Leadership Csuite StrategicHR EmployeeRelations BigInterview
  • Recruitment
    Employer Branding Appointments Permanent Hiring Recruitment
  • Performance
    Skilling PerformanceMgmt Compensation Benefits L&D Employee Engagement
  • Culture
    Culture Life@Work Diversity Watercooler SheMatters
  • Tech
    Technology HR Technology Funding & Investment Startups Metaverse
  • About Us
  • Advertise with us
  • Become a sponsor
  • Contact Us
  • Feedback
  • Write For Us

Follow us:

Privacy Policy • Terms of Use

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

People Matters Logo
  • Current
  • Top Stories
  • News
  • Magazine
  • Research
  • Events
  • Videos
  • Webinars
  • Podcast
Login / Signup

Categories:

  • HotTopic
    HR Folk Talk FutureProofHR
  • Strategy
    Leadership Csuite StrategicHR EmployeeRelations BigInterview
  • Recruitment
    Employer Branding Appointments Permanent Hiring Recruitment
  • Performance
    Skilling PerformanceMgmt Compensation Benefits L&D Employee Engagement
  • Culture
    Culture Life@Work Diversity Watercooler SheMatters
  • Tech
    Technology HR Technology Funding & Investment Startups Metaverse
Companies plan to combat the Great Resignation with higher L&D budgets in 2022: Survey

Story • 16th Mar 2022 • 3 Min Read

Companies plan to combat the Great Resignation with higher L&D budgets in 2022: Survey

SkillingLearning & Development

Author: Mamta Sharma Mamta Sharma
9.7K Reads
With half of companies facing a skills gap, HR managers recognize the importance of bringing different generations of workers together, and of training on both hard and soft skills.

The pandemic has crept into its third year and the end is still not in sight.

Its toll on the workplace is high. The skills gap is deepening, quit rates are spiraling out of control, and stress and burnout are ravaging the workforce.

To respond to these challenges, leaders have turned to learning and development (L&D) teams, giving them a seat at the C-suite table for the first time. L&D has become one of the key catalysts in smoothing the shift from an in-person to a digital-first work setting.

And data from a new research by  Society for Human Resource Management (SHRM) and TalentLMS, a learning management system backed by Epignosis,  indicates that companies will invest even more in learning and development this year.

67% of HR managers will have an increased L&D budget in 2022, says the new research.

While the most frequent annual L&D budgets are $500 – $1,000 (29%) and $1,000 – $3,000 (28%), it’s interesting to see that 15% of companies are spending over $5k on training and development for each employee.

Forty-six percent already have specific training in place for new graduates who are entering the workforce and 42% offer training to support the re-entry of formerly retired employees.

“While we're going through what's considered the biggest talent shortage in decades, with half of companies facing a skills gap, HR managers recognize the importance of bringing different generations of workers together, and of training on both hard and soft skills,” says Christina Gialleli, Director of People Operations at Epignosis.

The report also uncovers the rising importance of mental health and well-being training for the employee experience in the post-pandemic workplace.

Seventy-two percent of HR managers would invest in mental health and well-being training if they had a higher L&D budget, and 77% of HR managers are likely to focus on life skills within the next 12 months.

While employees are overall satisfied with the L&D in their companies (75%), the findings from the employee survey shed light on the gaps that exist in today’s workforce.

According to employees:

  • 55% say they need additional training to perform better in their roles
  • 38% advise companies to align training with job responsibilities, 32% believe it’s important to update training content more frequently, and 32% believe training should be more social.
  • One in two employees is pursuing learning opportunities on their own, outside of training at work.

“These statistics prove how critical it is for today’s leaders to focus on talent development. The growth of our businesses depend on pushing people beyond their boundaries,” says Jeanne Morris, Vice President of Education at SHRM.

Here are the other key findings:

  • 76% of employees agree that they are more likely to stay with a company that offers continuous training
  • Reinforcing positive employee experience is the leading L&D goal for over 9 in 10 organizations
  • 85% of HR leaders find training beneficial for organizational growth
  • More than 1 in 2 companies are facing a skills gap, and half of them are addressing it by training existing employees
  • Self-management will be among the top in-demand skills in 2022, with 83% of organizations focusing training initiatives on it
  • 46% of companies have specific training in place for new grads who are just entering the workforce
  • Over half of HR leaders will provide their employees with upskilling (59%) and reskilling (55%) training in 2022
  • According to employees, companies can make training more effective by aligning training with job responsibilities, updating training content more frequently, and making training more social
  • Getting DE&I training is important to 25% of employees, while 40% of companies are providing it
  • L&D budgets have increased since the pandemic outbreak for 57% of organizations

The report comprises two surveys, which were conducted online between January 29 and February 20, 2022, among two sample groups of US employees. One sample group includes 356 full-time employed respondents whose organizational role is HR manager and who are managing L&D initiatives in their companies, or are involved with them. The other sample group includes 1,001 full-time employees who have received training from their employer in the last 12 months, in addition to onboarding.

Read More

Did you find this article helpful?


You Might Also Like

5 sensitive data types employees are feeding AI

STORY • 5th Mar 2025 • 5 Min Read

5 sensitive data types employees are feeding AI

Strategic HRSkillingHR Technology#AdaptableHR#Cybersecurity#Artificial Intelligence
Five Things Leaders Need to Succeed in 2025

STORY • 26th Dec 2024 • 4 Min Read

Five Things Leaders Need to Succeed in 2025

LeadershipSkillingLearning Management SystemsLeadership Solutions#Innovation#HRCommunity
Key L&D trends for 2025

STORY • 28th Nov 2024 • 3 Min Read

Key L&D trends for 2025

SkillingLearning & Development#HRTech#HRCommunity
NEXT STORY: How to promote diversity & inclusion in the fintech industry?

Trending Stories

  • design-thinking-hr

    Skype is dead: Did Microsoft's leadership let a billion-doll...

  • design-thinking-hr

    Keeping the C-suite in the C-suite - how do we reduce execut...

  • design-thinking-hr

    Return to office: the legalities

  • design-thinking-hr

    The trust factor: Why modern leaders can’t afford to overl...

People Matters Logo

Follow us:

Join our mailing list:

By clicking “Subscribe” button above, you are accepting our Terms & Conditions and Privacy Policy.

Company:

  • About Us
  • Advertise with us
  • Become a sponsor
  • Privacy Policy
  • Terms of Use

Contact:

  • Contact Us
  • Feedback
  • Write For Us

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

Get the latest Articles, Insight, News & Trends from the world of Talent & Work. Subscribe now!
People Matters Logo

Welcome Back!

or

Enter your registered email address to login

Not a user yet? Lets get you signed up!

A 5 digit OTP has been sent to your email address.

This is so we know it's you. Haven't received it yet? Resend the email or then change your email ID.

People Matters Logo

Welcome! Let's get you signed up...

Starting with the absolulte basics.

Already a user? Go ahead and login!

A 5 digit OTP has been sent to your email address.

This is so we know it's you. Haven't received it yet? Resend the email or then change your email ID.

Let's get to know you better

We'll never share your details with anyone, pinky swear.

And lastly...

Your official designation and company name.