{"id":3646,"date":"2021-01-04T09:30:00","date_gmt":"2021-01-04T09:30:00","guid":{"rendered":"https:\/\/blog.kylas.io\/?p=3646"},"modified":"2023-04-24T10:14:56","modified_gmt":"2023-04-24T04:44:56","slug":"learning-development-small-business-growth","status":"publish","type":"post","link":"https:\/\/kylas.io\/en\/leadership-growth\/learning-development-small-business-growth","title":{"rendered":"Why an L&#038;D Strategy is Important for Small Business Growth (And How to Create One)"},"content":{"rendered":"\n<style>\n@media only screen and (max-width: 700px){\n.img-full-mob{\nwidth:100% !important;\nheight:100% !important;\n}\n}\n<\/style>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>\u201cContinuous learning is the minimum requirement for success in any field.\u201d &#8211; <\/em><a href=\"https:\/\/www.briantracy.com\/blog\/personal-success\/expand-your-mind-importance-of-lifelong-learning-and-continuous-education\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em><span style=\"text-decoration: underline;\">Brian Tracy<\/span><\/em><\/a><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">\u2018Eagerness to learn\u2019 and \u2018thirst for&nbsp;growth\u2019 are two of the&nbsp;main&nbsp;qualities we look for when we\u2019re hiring at&nbsp;<a href=\"https:\/\/www.kylas.io\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">Kylas<\/span><\/a>.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">We know that if the people in any organization \u2013 those same people that are dedicating their days with you toward a common dream \u2013 stop learning and growing, the organization can bid goodbye to growth.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Each and every&nbsp;business needs a&nbsp;robust&nbsp;Learning &amp; Development (L&amp;D) strategy, and yet the most&nbsp;robust&nbsp;ones are usually found only in&nbsp;large organizations.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This is&nbsp;mostly due to&nbsp;budget constraints,&nbsp;and also&nbsp;because&nbsp;owners don\u2019t realize how critical it is too small business growth.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">We\u2019re here to tell you that if there were only a few things you could invest in at the moment, a learning &amp; development plan should be one of them.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-ht-block-toc  is-style-outline htoc htoc--position-wide toc-list-style-plain\" data-htoc-state=\"expanded\"><span class=\"htoc__title\"><span class=\"ht_toc_title\">Why an L&amp;D Strategy is Important for Small Business Growth (And How to Create One)<\/span><span class=\"htoc__toggle\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\"><g fill=\"#444\"><path d=\"M15 7H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1z\"><\/path><path d=\"M15 1H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1zM15 13H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1z\"><\/path><\/g><\/svg><\/span><\/span><div class=\"htoc__itemswrap\"><ul class=\"ht_toc_list\"><li class=\"\"><a href=\"#htoc-what-is-a-learning-amp-development-strategy\">What Is a Learning &amp; Development Strategy?<\/a><\/li><li class=\"\"><a href=\"#htoc-can-a-learning-amp-development-strategy-boost-small-business-growth\">Can a Learning &amp; Development Strategy Boost Small Business Growth?<\/a><ul class=\"ht_toc_child_list\"><li class=\"\"><a href=\"#htoc-1-empowering-employees-with-fluid-role-responsibilities\">1. Empowering Employees With Fluid Role Responsibilities<\/a><\/li><li class=\"\"><a href=\"#htoc-2-skill-upgradation-for-employees-with-lesser-experience\">2. Skill Upgradation for Employees With Lesser Experience<\/a><\/li><li class=\"\"><a href=\"#htoc-3-inculcating-a-growth-mindset\">3. Inculcating a Growth Mindset<\/a><\/li><li class=\"\"><a href=\"#htoc-4-improving-business-outcomes-amp-prospects\">4. Improving Business Outcomes &amp; Prospects<\/a><\/li><li class=\"\"><a href=\"#htoc-5-long-term-planning-and-resource-maximization\">5. Long-Term Planning and Resource Maximization<\/a><\/li><\/ul><\/li><li class=\"\"><a href=\"#htoc-what-does-a-successful-learning-amp-development-strategy-look-like\">What Does a Successful Learning &amp; Development Strategy Look Like?<\/a><\/li><li class=\"\"><a href=\"#htoc-setting-up-an-l-amp-d-framework-for-small-business-growth\">Setting up an L&amp;D Framework for Small Business Growth<\/a><ul class=\"ht_toc_child_list\"><li class=\"\"><a href=\"#htoc-step-1-identify-your-goals-as-a-company-leader\">1. Identify Your Goals as a Company Leader<\/a><\/li><li class=\"\"><a href=\"#htoc-step-2-hold-a-core-team-meeting-to-bring-stakeholders-on-board\">2. Hold a \u2018Core Team\u2019 Meeting to Bring Stakeholders onto Board<\/a><\/li><li class=\"\"><a href=\"#htoc-step-3-create-a-competency-matrix\">3. Create a Competency Matrix<\/a><\/li><li class=\"\"><a href=\"#htoc-step-4-identify-learning-opportunities-sessions-and-courses\">4. Identify Learning Opportunities, Sessions and Courses<\/a><ul class=\"ht_toc_child_list\"><li class=\"\"><a href=\"#htoc-a-learn-as-you-go-programs\">a. Learn-as-you-go Programs<\/a><\/li><li class=\"\"><a href=\"#htoc-b-internal-cross-functional-training-sessions\">b. Internal Cross-Functional Training Sessions<\/a><\/li><li class=\"\"><a href=\"#htoc-c-online-courses\">c. Online Courses<\/a><\/li><li class=\"\"><a href=\"#htoc-d-visiting-experts\">d. Visiting Experts<\/a><\/li><li class=\"\"><a href=\"#htoc-e-group-training\">e. Group Training<\/a><\/li><\/ul><\/li><li class=\"\"><a href=\"#htoc-step-5-set-up-check-in-meetings-to-monitor-progress\">Step 5: Set up Check-in Meetings to Monitor Progress<\/a><\/li><li class=\"\"><a href=\"#htoc-step-6-analyze-the-impact\">Step 6: Analyze the Impact<\/a><\/li><\/ul><\/li><\/ul><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-what-is-a-learning-amp-development-strategy\">What Is a Learning &amp; Development Strategy?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">A learning &amp; development strategy is a program planned at the corporate level, taking the required core competencies &amp; skills into consideration, to identify areas for training and growth across the company. <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/04\/Why-Small-Businesses-Need-an-LD-Strategy-Inblog-1-e1614324730115-1024x844-1.png\" alt=\"People learning concept illustration\" class=\"img-full-mob lazy\" width=\"222\" height=\"185\"><\/figure><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">A learning &amp; development strategy is usually planned at the company level, team level, and individual level. Its key purpose is to ensure that every employee meets the requirements of his\/her role and is able to grow further.<\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">With a proper plan and timeline in place, a learning &amp; development strategy not only helps the company by improving the standard of work but also adds value to employees by teaching them new skills and helping them grow. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">The personal and professional growth that employees see as a part of an L&amp;D strategy very often leads to higher company engagement and loyalty.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-can-a-learning-amp-development-strategy-boost-small-business-growth\">Can a Learning &amp; Development Strategy Boost Small Business Growth?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">You might think that with their large personnel strength, enterprise-level organizations are the only ones that really need to constantly upgrade their employees\u2019 skills, map out growth curves and hold training sessions and reviews.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This couldn\u2019t be further from the truth. For small business growth, you need to invest early in a scalable learning &amp; development strategy.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Here\u2019s why small businesses need a robust L&amp;D plan:<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-1-empowering-employees-with-fluid-role-responsibilities\" style=\"font-size:22px;line-height:1.6\">1. Empowering Employees With Fluid Role Responsibilities<\/h3>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/04\/Why-Small-Businesses-Need-an-LD-Strategy-Inblog-2-e1614325094503-1024x972-1.png\" alt=\"Diverse roles businessmen\" class=\"img-full-mob lazy\" width=\"211\" height=\"226\"><\/figure><\/div>\n\n\n\n<p class=\"has-medium-font-size\">In small businesses, employees tend to wear multiple hats and the boundaries of the job description can get a little blurry. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">A learning &amp; development program empowers employees to take all the different aspects of their role head-on and bring a certain amount of expertise to the table.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-2-skill-upgradation-for-employees-with-lesser-experience\" style=\"font-size:22px;line-height:1.6\">2. Skill Upgradation for Employees With Lesser Experience<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">One of the most significant <span style=\"text-decoration: underline;\"><a href=\"https:\/\/kylas.io\/sales-effectiveness\/sales-challenges-growing-b2b-businesses-face\/\" target=\"_blank\" rel=\"noreferrer noopener\">small business challenges<\/a><\/span> is tighter purse strings when it comes to hiring. <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/04\/Why-Small-Businesses-Need-an-LD-Strategy-Inblog-3-e1614325213547-1024x937-1.png\" alt=\"Professional workers\" class=\"img-full-mob lazy\" width=\"221\" height=\"231\"><\/figure><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">While you should always hire people, who come in with a growth mindset, they might not have the experience you need to take your company to the next level. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">That\u2019s where your work begins as a responsible employer \u2013 an L&amp;D strategy can take a growth-oriented, sincere team member and elevate their expertise.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This is a win-win situation that works out for you long term.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-3-inculcating-a-growth-mindset\" style=\"font-size:22px;line-height:1.6\">3. Inculcating a Growth Mindset<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Let\u2019s face it, though all business owners would love a team that\u2019s entirely growth-oriented, hardworking &amp; proactive about work, that usually defines only about 20% of the workforce. <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">A lot of employees are simply there for the job and, more often than not, come in with a fixed mindset every day. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">But we truly believe that as long as they&#8217;re in the field of their choice, employees can be inspired to give it their best \u2013 and that responsibility lies with the employer.<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">A well-executed learning &amp; development strategy can turn even the most jaded employees into growth-seekers with a little more involvement and encouragement.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-4-improving-business-outcomes-amp-prospects\" style=\"font-size:22px;line-height:1.6\">4. Improving Business Outcomes &amp; Prospects<\/h3>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">An L&amp;D strategy\u2019s main goal is to upgrade the skills &amp; expertise of the organization at an individual and collective level. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">The first and foremost benefit you\u2019ll see as a result is a better quality of work, better prospects, and business resilience! <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">When the upswing in work reflects on your product\/service, it\u2019s easier for you to build on that as a small business owner and expand into newer opportunities.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-5-long-term-planning-and-resource-maximization\" style=\"font-size:22px;line-height:1.6\">5. Long-Term Planning and Resource Maximization<\/h3>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/04\/Why-Small-Businesses-Need-an-LD-Strategy-Inblog-6-e1614325551148-1024x933-1.png\" alt=\"Business people time work plan\" class=\"img-full-mob lazy\" width=\"218\" height=\"200\"><\/figure><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">You probably feel like you don\u2019t have the time, budget, or resources to plan &amp; execute an L&amp;D strategy right now. You\u2019re not the only small business owner to think so. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">BUT, think of learning &amp; development as an investment with compounding interest \u2013 pushing yourself to make the investment right now will eventually pay off in terms of well-trained &amp; dedicated employees, time savings, and maximized resources.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Consider this: <\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>Would you give L&amp;D investment a serious thought 5 minutes from now? <\/em>Probably not. <\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>5 months from now? <\/em>Maybe. <\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>5 years from now?<\/em> Definitely. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">That tells you something \u2013 you need to close your eyes and put in the effort now, so you can reap the rewards later. <\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>\u201cThe best time to plant a tree was 20 years ago. The&nbsp;second-best&nbsp;time is now.\u201d&nbsp;<\/p><cite>A Chinese proverb<\/cite><\/blockquote><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">The next step is understanding how an L&amp;D strategy should work, how it should tie into your small business growth, and the success metrics and best practices to keep in mind along the way.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-what-does-a-successful-learning-amp-development-strategy-look-like\">What Does a Successful Learning &amp; Development Strategy Look Like?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">An L&amp;D strategy, above all else, should be realistic, achievable, and result-oriented. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">There are plenty of components to consider when drafting the plan and as a small business, you need to make a conscious effort to move away from the \u2018ideal\u2019 to the \u2018just what we need\u2019.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">At its core, a learning &amp; development strategy should be-<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul style=\"font-size:20px\"><li><strong>Planned with all stakeholders involved <\/strong>\u2013 company leaders, human resource team, team leaders and also team members where appropriate, so that business goals trickle down into department goals, team goals and then individual goals.<\/li><\/ul>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul style=\"font-size:20px\"><li><strong>Execution-able<\/strong> \u2013 this isn\u2019t a best-case scenario plan, the kind that\u2019s presented to paint a pretty picture to clients. Consider real hurdles and barriers such as time, current skill level, accountability and more that may come up at team or individual level during execution.<\/li><\/ul>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul style=\"font-size:20px\"><li><strong>Monitored <\/strong>\u2013 you need to ensure you have stakeholders at every level, in charge of ensuring that the strategy is being executed as planned, or reporting back so it can be optimized. Here&#8217;s how <a href=\"https:\/\/kylas.io\/sales-effectiveness\/sales-reporting-maintain-line-of-sight-sales-crm-software\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">sales reporting<\/span><\/a> helps managers and teams maintain line-of-sight.<\/li><\/ul>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul style=\"font-size:20px\"><li><strong>Measurable <\/strong>\u2013 a lot of the output from your learning &amp; development plan is going to be subjective. So how do you realistically measure its impact? A couple of ways include progress monitoring and 360\u00ba feedback.<\/li><\/ul>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"text-align:center;font-size:20px\" class=\"wp-block-coblocks-highlight\"><mark class=\"wp-block-coblocks-highlight__content has-background has-white-background-color\" style=\"font-size:20px\"><strong>Interlude: The McKinsey &amp; Co. ACADEMIES framework to a successful Learning &amp; Development strategy<\/strong>&nbsp;<\/mark><\/p>\n\n\n\n<p style=\"font-size:20px\" class=\"wp-block-coblocks-highlight\"><mark class=\"wp-block-coblocks-highlight__content has-background has-white-background-color\" style=\"font-size:20px\">Recently, McKinsey &amp; Company published an article with its ACADEMIES framework to L&amp;D, comprising 9 components of a strategy. While more aptly suited for large organizations, it provides great insight into what an L&amp;D strategy should take into consideration:<\/mark><\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-setting-up-an-l-amp-d-framework-for-small-business-growth\">Setting up an L&amp;D Framework for Small Business Growth<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Let\u2019s build off the best practices we\u2019ve&nbsp;just detailed and&nbsp;set up a learning &amp; development framework for your small business&nbsp;growth.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-step-1-identify-your-goals-as-a-company-leader\" style=\"font-size:22px;line-height:1.6\">1. Identify Your Goals as a Company Leader<\/h3>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">You probably already have your business goals all mapped out for the year. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Identify the kind of support you need from your team, and the required skill sets that will help take your business to the heights you\u2019re aiming for. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">These can be organization-level goals or department-level goals \u2013 but do keep them realistic. One surefire way to ensure an L&amp;D plan doesn\u2019t work out is to set goals that are unachievable for your employees.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-step-2-hold-a-core-team-meeting-to-bring-stakeholders-on-board\" style=\"font-size:22px;line-height:1.6\">2. Hold a \u2018Core Team\u2019 Meeting to Bring Stakeholders onto Board<\/h3>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Bring together the human resource team and department heads to discuss your ideas, the business goals you\u2019ve mapped out, and the need for a learning &amp; development plan. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Ask them for their inputs, get their suggestions and get their buy in. <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Next, it\u2019s time to delegate \u2013 if you don\u2019t have an HR rep who can take the responsibility, ask people to volunteer to act as moderators in the process: someone who will keep checking in on the progress with all the teams, and report back during consequent meetings of the core team.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-step-3-create-a-competency-matrix\" style=\"font-size:22px;line-height:1.6\">3. Create a Competency Matrix<\/h3>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">A competency matrix is a tool that helps you outline the competencies required at each level of each team in your business (without considering the current talent pool).<\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">That\u2019s the first step in creating the matrix.<\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">The second step is to circulate it among team or department managers, so they can assess and evaluate each team member against those competency requirements, allocate ratings and identify needs &amp; skill gaps at individual and team level. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">The competency matrix forms the basis of your learning &amp; development strategy, so it\u2019s important to take the time to get this right.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>Creating the Matrix:<\/em> All you need is some time and an excel sheet! Create columns for the skill name, skill description, the role levels to which each is applicable, names of each employee, ratings and review notes for each employee. Then fill each row out with the data!<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Here&#8217;s a <span style=\"text-decoration: underline;\"><a href=\"https:\/\/kylas.io\/small-business-free-resources\/templates\/\">Competency Matrix Template<\/a><\/span> to get you started!<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-step-4-identify-learning-opportunities-sessions-and-courses\" style=\"font-size:22px;line-height:1.6\">4. Identify Learning Opportunities, Sessions and Courses<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">A few channels and platforms to implement into your learning &amp; development strategy include:<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"has-vivid-cyan-blue-color has-text-color has-medium-font-size wp-block-heading\" id=\"htoc-a-learn-as-you-go-programs\" style=\"line-height:1.6\">a. Learn-as-you-go Programs<\/h4>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Use ongoing projects or new projects as an opportunity for teams to learn and apply something new. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Make sure that you or a company leader can invest time with the team to guide them, share new learnings along the way, and provide them with templates and takeaways to use in future projects. <\/p>\n\n\n\n<div style=\"height:17px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This will ensure that working closely with a leader on the project will not only be a great learning experience, but an opportunity to take away learnings for the future.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"has-vivid-cyan-blue-color has-text-color has-medium-font-size wp-block-heading\" id=\"htoc-b-internal-cross-functional-training-sessions\" style=\"line-height:1.6\"><strong>b. <\/strong>Internal Cross-Functional Training Sessions<\/h4>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Cross-functional training in a corporate environment means providing exposure to different functions of the business, and is an ideal way to train and identify future leaders in the company. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Because managers need to understand different aspects of the business, this is a great way for you to select future leaders from the competency matrix and hone their knowledge before they\u2019re actually up for a promotion.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"has-vivid-cyan-blue-color has-text-color has-medium-font-size wp-block-heading\" id=\"htoc-c-online-courses\" style=\"line-height:1.6\">c. Online Courses<\/h4>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This is one of the easiest, hands-off ways to provide learning &amp; growth for employees, but you need to be aware of two potential pitfalls:<\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<ul style=\"font-size:20px\"><li>The risk of choosing a generalized course that adds no value \u2013 try to choose courses specific to each level or each employee. <\/li><\/ul>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<ul style=\"font-size:20px\"><li>The common outcome of having the course completed without any actionable impact on work \u2013 work with team managers to identify company projects where each course\u2019s learning can be actioned, and then leave the responsibility with them.<\/li><\/ul>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"has-vivid-cyan-blue-color has-text-color has-medium-font-size wp-block-heading\" id=\"htoc-d-visiting-experts\" style=\"line-height:1.6\">d. Visiting Experts<\/h4>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">We know that small businesses don\u2019t necessarily have the kind of resources to bring in industry experts to talk to a small team of employees. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Instead, choose people from your network who have expertise in each team\u2019s function \u2013 for example, if you happen to know someone who works in an agency, bring them in to talk to your marketing team about the latest and greatest in the world of digital. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This will serve to inspire, update and refresh your team\u2019s knowledge and will bring in newer perspective (and probably some actionable takeaways too!)<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"has-vivid-cyan-blue-color has-text-color has-medium-font-size wp-block-heading\" id=\"htoc-e-group-training\" style=\"line-height:1.6\">e. Group Training<\/h4>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Don\u2019t forget to focus on soft-skills training &#8211; this is best done in a group environment. <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">When it comes to development in terms of your business values, it\u2019s important that employees (and especially team leaders) know how to address situations and build the right environment to reflect company values. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Consider this a type of training where you can use games, situation simulations, videos and more to achieve long-term impact.<\/p>\n\n\n\n<div style=\"height:13px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">You can also apply the group setting to skill-related learning where possible \u2013 for example, you can have a member from any team provide a download of learnings from an online course, or ask a manager to discuss business case studies or success stories from your own organization.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"has-black-color has-text-color wp-block-heading\" id=\"htoc-step-5-set-up-check-in-meetings-to-monitor-progress\" style=\"font-size:22px;line-height:1.6\">Step 5: Set up Check-in Meetings to Monitor Progress<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Set up weekly \u2013 and later, fortnightly \u2013 meetings with the core team to get constant updates on the progress of the learning &amp; development plan, it\u2019s effectiveness and any visible impact. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">You can set up certain parameters or indicators to take an update on and discuss it in every meeting to help streamline and standardize the format of these check-in meetings.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"has-black-color has-text-color wp-block-heading\" id=\"htoc-step-6-analyze-the-impact\" style=\"font-size:22px;line-height:1.6\">Step 6: Analyze the Impact<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Don\u2019t wait until 6 months have gone by before you check for the impact of your L&amp;D strategy. If you\u2019ve decided beforehand the check-points you\u2019ll have in place, make sure you\u2019re constantly measuring the impact. <\/p>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">For example, if you\u2019re planning on using 360\u00ba feedback \u2013 which means feedback for each individual from their peers, direct reports and superiors \u2013 set up a feedback form before you begin any learning &amp; development initiatives. <\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">.<\/p>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Then, get regular feedback check-ins along the way from the same respondents as a constant measure of success and change. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">This is a method that\u2019s commonly used by business coaches to help clients understand their status quo, create plans and track growth.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\"><em>Sounds deceptively easy? <\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">That\u2019s because it almost is \u2013 the toughest part of your learning &amp; development strategy is going to be the execution &amp; measurability. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Follow the guidelines mentioned here, your own learnings and you\u2019ll find that even a little bit of effort goes a long way in the long run.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\" style=\"line-height:1.6\">Good luck!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cContinuous learning is the minimum requirement for success in any field.\u201d &#8211; Brian Tracy \u2018Eagerness to learn\u2019 and \u2018thirst for&nbsp;growth\u2019 are two of the&nbsp;main&nbsp;qualities we look for when we\u2019re hiring at&nbsp;Kylas.&nbsp; We know that if the people in any organization \u2013 those same people that are dedicating their days with you toward a common dream &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/kylas.io\/en\/leadership-growth\/learning-development-small-business-growth\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Why an L&#038;D Strategy is Important for Small Business Growth (And How to Create One)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":23,"featured_media":5275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","footnotes":""},"categories":[16,28],"tags":[42,53,57],"acf":[],"featured_image_src":null,"author_info":{"display_name":"Shagun Sharma","author_link":"https:\/\/kylas.io\/en\/author\/shagun"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why an L&amp;D Strategy is Important for Small Business Growth<\/title>\n<meta name=\"description\" content=\"Wondering whether you need to create an L&amp;D plan? 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