Corporate India needs to step up on the learning and development front as it seeks to build a workforce with the right skills and knowledge to stay relevant in this fast-changing business environment, according to a study by KPMG and National HRD Network (NHRDN).
The first-of-its-kind study, titled Learning on Point, covered 138 leading organisations across sectors and found that their average Learning Maturity Index (LMI) stood at 71 on a scale of 100, indicating that developing talent remains a challenge for corporate India.
“When you take into account that we covered the best companies within corporate India, there’s quite a lot of ground that needs to be covered,” says Nishchae Suri, partner and head of KPMG Academy. “At a time when individuals are leaving careers for differentiated learning opportunities in terms of exposure and experience driven by the demographic change, courtesy millennials entering the workforce, learning & development (L&D) is assuming increasing importance.”
The survey revealed that the learning strategy of most organisations is well-aligned with business strategy but integration of learning with other HR processes is slow. Learning impact measurement is largely limited to capturing post programme feedback. Use of learning technology is low and employees have limited autonomy in selecting learning programmes, the study found..
Integrating learning with HR: In 29% of organisations, learning happens in isolation or is at best connected with performance management systems. “For employee development to be complete, learning needs to be integrated with other HR processes, including succession planning, career planning, performance management,” says Suri. Absence of a learning ecosystem: Despite the growing importance of peer-to-peer learning, there are limited systems to support this. Of the participating organisations, 56% lack a formal mechanism that defines the role of team members in aiding an individual’s learning.