The majority of UK businesses start and maintain learning and development (L&D) programmes in order to comply with regulatory obligations, although many consider soft skills to be the most crucial training they provide. Most businesses also claim that L&D has a beneficial effect on revenue. This is supported by a brand-new Virti research titled "The 2023 State of Learning and Development." The results come from a recent study of 144 L&D experts in the UK.

The top three reasons given by respondents for why their firms conduct training are to encourage employee career development (39%), assure compliance (50%), and enhance technical abilities (49%). However, the majority of respondents (50%) also said that the most crucial courses available were those in leadership and communication. Notably, around two-thirds (67%) claimed that L&D has a favourable effect on revenue.

Although cause and effect aren't always direct, executives should be mindful to keep an eye out for such important business results, according to Kurt Kratchman, CEO of Virti. "Some survey-takers aptly noted in open ended comments that 'L&D attracts energised talent' and fosters 'a culture of innovative curious thinking,' which are productivity factors that are inherently difficult to assess in a spreadsheet."

Source prnewswire