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Solution
Table of Contents
1.0 Contextual Information Related to Organisation and Environment 2
1.4 Learning Professionals Developing and Managing Relationships with Stakeholders Groups. 4
2.0 Designing Learning relevant for Organisation. 6
2.1 Shifts in external environment and strategy, creating learning needs. 6
2.2 Approaches to Learning Needs. 8
2.3 Performance Gap and Development Gap. 9
3.0 Development of Learning Needs Analysis. 11
3.1 Approaches to Impact Measurement of Learning Events 11
3.2 Barriers to Evaluation. 12
1.0 Contextual Information Related to Organisation and Environment
1.1 Background
In the contemporary business environment, Learning and Development (L&D) is applied in an organisation in development of workforce capability, skills and competencies. The internal and external factors have a direct implication on the learning approaches and policies. According to (REF), these are informed by necessity for aligning them with people practice strategies such as resourcing and talent management. This report uses MJX LTD as a case study organisation which operate in the financial products and services locally and internationally. The organisation has different departments which include commercial development, sales and customers relations, investment research and portfolio management, trade compliance, accounting and administration. Considering MJX LTD organisation sector is characterised by high-level competitiveness and challenges, investing on L&D strategies is instrumental.
1.2 Internal Factors
Since L&D strategy is an ongoing initiative characterised with the need for a continuous change, McKinsey 7S which is an internal analysis model can be used to identify the internal factors which impact L&D (Masfi & Sukartini, 2022).
Structure– An organisation structure has a direct impact on L&D process. For example, Onwuatuegwu and Paul-Mgbeafulike (2023) noted that hierarchical structured organisations tend to hinder/restrict knowledge distribution and how it is accessed. Considering MJX organisation, Matrix Structure where employees are granted with opportunities for acquiring new skills, taking challenging roles and getting feedback and recognition from multiple sources. However, matrix structure is identified in Wang et al. (2021) to be characterised with slow decision making, zero accountability and lack of cooperation and communication. In MJX organisation, this has informed need for change management training and particularly agile coaching for an increased flexibility, transparency and efficiency.
Strategy– In McKinsey & Company (2019) report, organisation strategy is identified as supporting talent/professional development and setting a clear vision/plan for building capabilities in the entire organisation. This is on-time and cost effectively. Hence, this factor impact MJX L&D informing the need for achieving diversity, equity and inclusion. Also, with their strategy being leadership change, leadership-based trainings have been pursued for strengthening the available and future pipeline, succession planning initiatives, sr.executive coaching, mentoring sessions among others.
Systems– This factor identify the processes, infrastructure, and workflows set and used in an organisation. According to Soubjaki and Baytieh (2017) in an organisation whose processes and workflows are tailored towards increased performance, their L&D initiatives are improved. Considering MJX systems are based on improving their performance, their employees are provided with performance reviews, coaching and feedback, leadership trainings for aligning with organisation leadership behaviour competency framework.
Skills– Skills are identified as competencies and capabilities of individuals in an organisation assisting them in reaching their business goals and objectives (Suwanda et al., 2022). MJX business goals include an increased innovation, prompt prototyping and proactive Go To Market Strategy. Also, with MJX objectives being improved customers satisfaction, they offer capacity development opportunities for customer services which lead to increased revenues and EBITDA targets.
Style– This factor identify the manner in which individuals in an entity are found operating and interacting. As evidenced in CIPD (2022), this is inclusive of the interpersonalised busine ss relations, management styles adopted and codes of conduct. Hence, this impact L&D in regard to the style of implementation, opportunities and stakeholders involved. In MJX for instance, these are represented by standard operating procedure (SOP) and Service Level Agreements (SLAs) influencing store operational procedures and cash handling procedures. Hence, the employees are offered with trainings to be updated on these areas and maintain 100% accuracy of Know Your Customer (KYC) data inputs core in BSC and OKRs.
Staff– This include the entire people practice management initiatives in an organisation. According to CIPD (2023) this influence existing and future skills demands of an entity creating flexible learning interventions. For example, in MJX, with their operations in different locations internationally, they provide person-centric L&D programs for enhancing diversity, equity and inclusion. This is while aligning it to policies and practices of making colleagues relevant competitive, performance management reviews and engagement.
1.3 External Factors
In order to evaluate impact of external factors on L&D strategies and policies, PEST analysis tool can be used (Cox, 2021).
Political – Political environment can positively or negatively impact the organisation L&D initiatives. For instance, it can be used to initiate positive learning environment promoting healthy learning while leading to conflicts increase, mistrust and unhealthy L&D programs (Cacciattolo, 2013). For MJX case, they are highly regulated by central bank in all the countries they have based their operations. Hence, there are multiple compliance trainings which are audited with a requirement of a continuous updates of content for maintain knowledge of their employees with changes in legislations and regulations.
Economic- As evidenced in Margaryan et al. (2022), economic performance of a country and organisation has a direct impact on L&D initiatives implemented. For instance, Simplilearn (2020) survey indicated that COVID-19 had disrupted 70% of employees L&D. Similarly, for MJX , due to COVID-19, the organisation has been under cost optimisation. The outcome of this has been scaling doing the learning sessions in different areas of operations and training resources generated.
Technology– In CIPD (2017) report which surveyed more than 6,000 organisations, technology has positively impacted the L&D initiatives in these organisations. This is provided people practice professionals select the right digital learning tools. For MJX, AI and Machine Learning and LXPs have significantly changed how learning world and audience learning patterns external learning platforms are being used. This is dependent on self-paced learning and bite size sessions.
1.4 Learning Professionals Developing and Managing Relationships with Stakeholders Groups
For L&D strategy implementation, different stakeholders have varying roles and functions. These are senior managers, line managers, HR managers, IT department, consultancies and learners/participants. In line with CIP ( 2023a) misaligned organisation strategic goals lead to failure of accruing on senior stakeholders facilitation. This can be evaluated through the application of Mendelow Matrix Model (Shcherbachenko et al., 2022).
Figure 1: Mendelow Matrix Analysis of Stakeholders
Low-Interest; High-Power- Central Banks regulate all the MJX operations and hence L&D must partner with them for review meetings quarterly for sourcing feedback in their performance of compliance mandatory trainings and training data for regulatory reports. Regular training reports are provided to central banks to audit the learning process.
High-Power; Low-Interest- For the organisation customers and the market they operates, effective management is prioritised. This is to ensure L&D is custom-made to their expectations. In MJX for instance, from the feedback obtained from their clients, it is possible to improve on their skills and upskilling their operations informed by changing needs. The interest of the administration is however evident at the point where they engage in a discussion and planning strategic agendas and their expectations from L&D in regard to upskill of people for achieving new/modified organisation or departmental goals.
High-Power; High-Interest- For the line managers, staff, L&D professionals, they are instrumental in the L&D implementation. The L&D must be supporting them and consult them in giving insights on the appropriateness of the learning process (CIPD, 2023b). Through the line manager being gatekeeper of personalised L&D, they must be consulted and engaged in the process implementation. In MJX, by partnering with line managers, they are in a position of issuing TNA surveys for understanding functional demands of the different departments. From this, a delivery and designing of custom-made L&D is achieved.
Low-Power; High-Interest– The directors and executives are identified in Retana and Rodriguez-Lluesma (2022) to be engaged in providing sufficient support and feedback to trainers and employees. In MJX for instance, customised learning programs are initiated for organisation main priorities and goals. These include revenue an EBITDA targets, custom-made compliance trainings and audit targets for the organisation. Also, by partnering with HR, it becomes possible to support employees engagement, motivation hence an increased retention.
2.0 Designing Learning relevant for Organisation
The rationale of this is identified by Keep and Storey (2014) as occasioned by the fact that almost all modern organisations offer a form of L&D initiative to their employees. According to Singh et al. (2021), through learning needs analysis, it is possible to timely identify the learning needs gap.
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