While the old saying “that everything is possible” could be applied to a company succeeding without taking the effort of developing the skills of their employees, it is probably easier to win a million dollar lottery jackpot. Whether you call them employees, team members, talent, or warm bodies, the bottom line is that the human factor of your business is what makes your company successful.
Avoiding the effort, and yes money, to develop your employees will be the Achilles Heel that brings you down in the end. I cannot remember a single organization that has failed that had a focused and engaging learning function. And yet, there are a ton of organizations trotting right along today without anything but tired old eLearning modules being ushered out annually and called training.
To be sure, the regulatory world we live in requires some training for all members in most organizations, but as my book Pointless Training illustrates, these efforts are often no more effective than window dressing. So while technically your company offers “training” it is also pointless.
Eight years ago when I published my first book, The Training Physical, about a process of auditing and fixing the corporate training function, companies were a lot more involved in employee development that met the needs of their workforce. Today you would be hard pressed to find an organization that would invest in an audit of the training function, or the human resources function (beyond compliance requirements) for that matter. And yet these functions if they do exist are also staffed with weak talent lacking necessary competencies.
Human Resource and Learning Development talent has over the last 5 years become administrative lacking proactive people willing to challenge the status quo. You can see this by people in their first jobs as recruiters, that don’t even know what a skill or competency is, and yet just screened out experienced talent because a key word wasn’t on their resume.
If stockholders want their companies to succeed, then they must insist that management take employee development seriously. Personally I never invest in any company that avoids proactive and continual learning. Why would I invest in an organization that will fail someday?