Do you want your company to produce and hold onto its finest leaders? Do you wish to get them ready for the chances and challenges that lie ahead? Want to accomplish all of this without expending excessive amounts of time, money, or resources on education? If you say yes to any of these questions, you need to consider managed learning services in your organization.
Read on to learn how MLS can assist you in establishing an excellent and expanding culture within your company.
What are Managed Learning Services?
Managed learning services (MLS) is an outsourcing model that lets you collaborate with an outside specialist to manage your learning process. It can support various organizational departments, including L&D, IT, Finance, and Legal.
These services are meant to provide cost savings, increased efficiency, and a competitive edge through outsourced L&D programs. The global market for MLS is expected to grow at a CAGR of 5.4% from 2022 to 2031. It is likely to reach a value of US$ 624.1 billion by 2031.
The services provided by MLS cover external training sourcing and L&D administration, delivered through online, offline, and blended learning. The targeted enterprises range from SMEs to large organizations, spanning industries like BFSI, IT & Telecom, manufacturing, healthcare, and retail.
What are the Benefits of Managed Learning Services?
Companies can reap numerous advantages by contracting with providers offering MLS to handle their learning function, including:
- Focus: An MLS provider manages the learning function and ties it in with business objectives. It gives companies the scope to concentrate on their main business operations and strategic goals.
- Expertise: Such providers are equipped with the know-how, abilities, and practical experience necessary to create and implement excellent learning programs. They optimize learning across regions while promptly addressing regional demand differences.
- Innovation: By utilizing the newest tools, technologies, and industry best practices, these providers can produce dynamic, interesting, and productive learning environments.
- Scalability: MLS providers offer flexible, customized learning solutions that can scale as required. They can adjust to the business’s changing demands and needs.
- Effectiveness: These providers can assess the results and effects of learning initiatives. At the same time, they offer suggestions and analysis to enhance performance and learning strategy.
How to Leverage MLS for Leadership Development and Succession Planning?
For any organization, two of the most crucial and difficult learning areas are succession planning and leadership development. They call for an all-encompassing, long-term strategy that can support and develop the company’s present and future leaders.
Managed learning service providers can assist businesses in these areas of learning by offering the following services:
Assessment
Dedicated providers can assess the potential leaders of the company using tools like personality tests, 360-degree feedback, and competency models. This way, the management team can create a development plan for leaders and assess their strengths and areas for growth.
Content Development
Content that is pertinent, interesting, and in line with the business and learning objectives can be created by such providers. It supports strong leadership, decision-making, teamwork, communication, creativity, emotional intelligence, and problem-solving.
Additionally, the content can be customized to the company’s unique context and culture, reflecting its mission, values, and vision.
Training Delivery
A variety of modalities, including online courses, webinars, workshops, coaching, mentoring, and simulations, are a part of training sessions. The training can be hybrid, synchronous, asynchronous, or blended based on the organization’s and the learners’ needs and preferences.
According to NIIT, using strategies like immersive learning, storytelling scenarios, and case studies, the training can be participatory, and experiential.
Support
Accountable MLS providers offer ongoing support and guidance to both learners and organizations throughout the learning process. This includes providing feedback, reinforcement, reminders, and resources to ensure that the learning is retained and applied in the workplace. They foster a learning community in which learners can share individual experiences and best practices while learning from one another.
Evaluation
Assigned providers evaluate the impact of learning programs through a variety of methods, including surveys, quizzes, tests, interviews, and observations. This can be used to assess learning outcomes such as skills, performance, behaviors, and attitudes. It further covers business outcomes like productivity, quality, customer retention, and satisfaction.
They offer reports and recommendations to help businesses work on their performance and learning strategies.
So, managed learning services are a powerful and cost-effective way to improve any organization’s learning function. At the same time, these services are meant to provide high-quality, customized learning solutions. Businesses can ensure long-term growth by utilizing MLS for leadership development and succession planning.
