Simplilearn Enterprise Survey Reveals Promise of Growth of L&D in 2022
Bengaluru : Simplilearn, the world’s #1 online boot camp for digital economy skills training, has published the findings of their 2021 end-of-year survey of Learning and Development (L&D) professionals. The survey was conducted to understand the enterprise learning and development landscape and what companies are doing for their employees across various levels. It provides insights on employee skill development budgets, the different types of training that the organizations offer to their employees, the skill domains that will receive the highest priority in 2022, and the challenges faced by the organizations regarding online skills training.
Simplilearn surveyed 200 L&D professionals globally as part of the survey, of which 35% were from associate level, 30% from managerial level, 19% from director level, 11% from C-level, and 5% from VP level. The key insights from the survey provide an outlook into L&D expectations for 2022.
Insights from the Simplilearn Enterprise Survey provide a promising outlook for L&D in the year to come:
· 84% of the respondents said their L&D budget increased or remained the same in 2021. Overall L&D budgets among enterprises had risen by 4% year-over-year in 2021. Based on the respondents’ views on their skilling focus in 2022, Simplilearn anticipates that this trend will continue in 2022 as well
· 80% of the respondents said developing digital skills internally will be an area of focus in 2022.
· The top functions targeted by organizations for employee upskilling programs are Technology (54%), Digital Operations (39%), Digital Business (34%), and Data Science (30%).
· Artificial Intelligence and Machine Learning are the highest priority skill domains for 2022, followed by Cyber Security, Project Management, Digital Marketing, Cloud Computing, and Data Science. These skills will receive the highest budget priority from organizations for internal upskilling initiatives and/or external hires.
· Organizations face particular challenges concerning online skills training. The biggest of these are Measuring ROI & Application of New Skills (57%), Budgeting (19%), and Completion Rates (19%).
· With a focus on boosting employee upskilling, 42% of respondents said they offer reimbursement programs for employee-paid upskilling, and 18% of the organizations are considering doing so. This trend indicates an increased focus on upskilling.
Organizations deprioritized some skills in 2021 in terms of budgeting for internal upskilling and/or external hires. IT Service and Architecture saw the most significant decline in priority from the previous year (2020).
Speaking on the survey results, Mr. Krishna Kumar, Founder and CEO, Simplilearn, said, “Learning and development is a key asset today in most companies’ organizational structure. From finding ways to motivate employees to enhancing their sense of personal growth and aligning them with a company’s goals and values, L&D has become a matter of importance across firms – big and small. It is promising to see more and more enterprises taking steps towards boosting L&D practices. Continuous learning and development ensures employee retention, as professionals tend to stay longer in a company that is invested in their employees’ growth and career development. In addition, relevant upskilling is highly beneficial to enterprises as it results in a more productive and efficient workforce.”
He further added, “2022 is going to be a big year for learning and development as the pandemic really opened executives’ eyes to the importance of upskilling in the digital economy for the smooth functioning of companies. A big chunk of L&D’s focus will involve ensuring that learners keep upskilling at every stage, beyond onboarding and basic training. After all, learning is an ongoing journey, not a moment in time.”