Fosway Group, Europe’s no.1 HR industry analyst, has completed the insights from its annual Digital Learning Realities research, in association with the world’s leading workplace learning tech event, Learning Technologies. Now in its 9th year, the research explores how L&D teams rise to the challenge of a fast-changing tech landscape.
Crucial to L&D teams is the support of the C-Suite. Organisations where their executive team believes learning and people development are central to success are almost twice as likely to have seen their overall L&D budget grow in 2023. Even more importantly, an enthusiastic C-Suite is almost three times more likely to accelerate their investment in new digital learning projects.
The 5th and final infographic showing this years results can be found below.
AI In Learning – Today and Tomorrow
This bonus infographic had been developed to bookend Fosway’s recent Digital Learning Realities Research. which explores how learning teams are using AI as part of their toolset today and their plans for AI in the future of corporate learning. Just 12% of L&D professionals think the impact of AI in learning is overhyped. Download the full infographic here.
The Shifting Learning Technology Landscape
Only 45% think their learning platforms are fit for the modern workforce In 2022 the numbers were almost identical. Another year has passed, and the needle has stayed the same. What’s more damning is that nearly 50% say their learning systems are NOT fit for their workforce. As we look out to 2024, there is little to suggest this picture will change.
Skills and Success with Upskilling, Cross-skilling and Reskilling
Skills continues to be a major priority for HR and L&D teams with nearly 3 in 4 reporting that it’s a high priority for them. And with only 3% saying skills is either a low or not a priority, skills is clearly a strategic imperative. This is borne out in the ratings by L&D teams of their strategic priorities for the year ahead. Upskilling and reskilling along with career development are 2nd and 3rd in L&D priorities.
Learning Technology Maturity
Learning technology has still to deliver a consumer grade learner experience for the majority of buyers. With around half of all organisations saying their learning platforms are not fit for the modern workforce, most organisations still have a problem with their learning technology. This is driven by the range and quality of learning experiences that solutions can support.
We all intuitively know that executive engagement is critical in any aspect of business. If you don’t have it. I think we’d all say you’re going to struggle. But, that L&D teams who have C-Suite support are twice as likely to see their learning budgets increase, compared to those who didn’t, especially when the economy has been so tight, shows just how essential it is for L&D managers to have an influencing strategy for the C-Suite. If you don’t you really are selling all your people short.
In what looks once again like a challenging tech landscape for L&D teams, respondents to our latest research are at least aware of the need to improve their tech solutions in search of a better employee experience,” comments David Wilson, CEO of Fosway Group. “and, in a climate of reduced L&D spending for many organisations, it’s good to see that investment in digital learning is largely resistant to tighter budgets. It’s now up to L&D to repay this by proving its value.
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