Here at UNLEASH, we have written a lot about the causes and consequences of the ‘Great Resignation’ that is occurring across the world.
A major cause of the ‘Great Resignation’ is a lack of career development during the pandemic. So it is no surprise that companies are losing many of their highly skilled employees and subject matter experts who really value learning and development (L&D).
Research by L&D platform Fuse has found that almost nine in ten HR and L&D leaders in the US and the UK see the loss of an expert as an alarm bell business concern.
This is because companies are teetering on the edge of a knowledge brain drain. Of the 250 leaders surveyed by Fuse, 58% said losing a subject matter expert had a knock-on effect on innovation, 43% said it increased L&D costs and 42% said it increased the risk of further employee attrition.
Prioritize learning in the flow of work
Of course, stopping this brain drain trend in its tracks requires companies to rethink their L&D strategy and not just continue with legacy approaches.
Fuse is very clear that companies must instead embrace learning in the flow of work – in fact, the company’s founder and president Steve Dineen recently wrote an opinion piece about it for UNLEASH.
Dineen argues it drives productivity, helps to reduce retention and enables for instant problem solving on-the-job.
92% of those surveyed by Fuse said access to on-demand knowledge is a key driver of business success. Despite this, 40% of them are still using course-led L&D strategies. Only 25% provided all employees with learning in the flow of work.
Talking about the findings, Fuse CEO Luke Oubridge commented: “This research leaves little doubt that there is a significant disconnect in terms of what leaders know and want L&D to look like in the modern-day organization, and the actual reality.
“When we then look at these findings through the lens of hybrid work, the advent of technology, and the impending ‘Great Resignation’, the true urgency of this issue can be fully appreciated.
“The course, at least in isolation, is no longer a viable learning solution when the need for instant access to knowledge on demand is happening everyday – and it’s a business-critical issue that warrants immediate attention at the top table.”