As with many business functions, learning and development (L&D) has gone through profound changes over the last decade, impacting not only internal training programs, but also corporate education assistance programs. The following are just a few examples of changes that have had major repercussions throughout our industry in recent years:
- Employee development has become critical to long-term business success and is now viewed as a strategic investment.
- Technology integration has changed the way companies manage and deliver learning to their employees.
- Broad acceptance of e-learning and migration to virtual delivery methods has increased the speed of delivery and provided a more cost-effective way to deliver learning to a geographically disbursed audience.
With one in five college students receiving some form of tuition support from their employers, organizations recognize that educating their employees is a way to mine the talent within their company. It wasn’t too long ago that corporate spending for training and education was the first thing to be cut in a downturn. Today, in many companies, education has become a strategic function that is demonstrating bottom-line results.