The only constant is change, and the world of work is no exception. In 2023, we were up against economic uncertainty, new technologies, return-to-office, record layoffs, and more. Although the rumblings of The Great Resignation have quieted, talent acquisition and development remain top challenges for organizations.
We recently conducted a survey of more than 100 HR and L&D professionals and found organizations were focused on 3 core areas – compliance, upskilling, and leadership development.
It’s no surprise to see core programs like compliance, onboarding, and safety were big focus areas for organizations, especially in a year where many operated lean and focused on just the essentials. It’s also no surprise that technical skills became a larger focus for organizations in 2023 with the rise of AI, as many raced to adopt generative AI to keep pace with their competition. Finally, we know the impact leaders have on morale, productivity, and profitability, so leadership once again makes the list as a top priority.
Let’s look at how we plan to enhance our existing products to help our clients build learning programs that mitigate risk, upskill and reskill their people, and develop leaders who drive results.
Leverage a learning library with the most in-demand skills
Between the explosion of AI and younger employees moving into leadership roles, organizations need to have a robust content library to help employees develop today’s most in-demand skills. In 2024, we plan to prioritize library additions in the areas of compliance, trending topics, and localized content.
Compliance remains a top priority in year of uncertainty
We recently conducted a survey of more than 100 HR and L&D professionals and found that compliance will continue to be a big focus in 2024, with 81% of respondents reporting this is a current focus for them. In 2024, we’re focusing on adding new anti-harassment content to our existing collection, with new titles for both general and state-specific requirements.
Renewed focus on leadership training
The younger generations – particularly millennials are beginning to move into leadership roles, and as a result we’re seeing a renewed focus on the need for leadership training. It’s important to provide foundational skills for first-time managers, so we plan to expand our collection of leadership content in 2024, with a focus on skills for new managers, specifically.
As part of our leadership offering, we will continue to offer live, expert-led, cohort-based leadership development academies through our content product, BizAcademy. Leaders will be able to take four-week modules on key topics like coaching, feedback, transitioning to a leadership role, new manager fundamentals, and more.
Additionally, Gen Z and Millennials are looking for a holistic approach to training and value work-life balance, so we’ll be releasing new Health and Wellness titles
What’s keeping the C-Suite up at night?
Technology is weighing heavily on the minds of the C-Suite. According to a report by PWC, Cybersecurity is the number one concern of the C-Suite. Following closely behind is the concern that new technologies will make their current business model irrelevant. The rise of AI has made organizations reconsider how they’re using technology. Although adoption of AI has been quick, many organizations are struggling to determine best practices and need to upskill their people on the latest technology and ethical use of AI. In 2024, we plan to release new titles in Cybersecurity, Software Skills, Digital Literacy, and AI to help organizations navigate the latest enhancements in technology.
Enhancing the learning experience with AI and machine learning
Speaking of AI and digital transformation, we’re making several enhancements to our platform using AI. Our recent survey found that low learner engagement and participation was in the top three challenges for HR and L&D professionals in 2023, so we’re working to improve our recommendation engine to create a more personalized and engaging learning experience.
Upon login, new learners will be prompted with a series of questions about their learning style and topics of interest. Existing learners will also get the same prompts to help build their content profile. Their preferences will then inform the AI-powered engine to serve up recommended content and will make adjustments and recommendations based on the learner’s activity.
We’re aiming to remove barriers to learning by leveraging AI to make enhancements to our search functionality. With a library of more than 13,000 titles, we know the precision and relevance of search results is extremely important in ensuring that learners can access the information they need when they need it.
We are broadening our search capabilities to encompass documents associated with the content, including transcripts, support materials, and handouts. This expansion will result in a substantial enhancement in the accuracy of search results. Our enhanced search functionality will also empower learners to ask questions and receive tailored responses, saving them time when learning.
All-in-one learning solution
Economic uncertainty and layoffs loomed large in 2023, and many organizations had to find ways to create efficiencies and maximize value from their employees and vendors. Although the labor market is strong and the economy is more stable, organizations are still looking to consolidate partners and find ways to make their budgets go farther. Our survey found nearly 60% of respondents said their budget would stay the same.
Given the need organizations have to get the most value they can from their partners, we plan to focus on four key areas when enhancing our platform in 2024 – Discovery, Curation, Integration, and the BizLibrary Administrator Experience.
In addition to making significant enhancements for the learner, we’re also prioritizing optimizing the administrator experience.
Administrators reported their top two challenges include: 1. Not enough time to devote to a training plan, and 2. Not enough budget for training. Given these challenges, we’re aiming to help find ways to save administrators time and maximize value by simplifying the steps to manage and build a program, add learners, create development plans, and send messages to learners right from BizLMS.
Additionally, we plan to prioritize integrations, as we know we many organizations are focused on consolidating and streamlining their tech stack.
We’re excited for these enhancements and how they’ll help you build better learning programs! If you’re interested in learning more about any of these enhancements, contact your BizRep!