Today’s workplaces have a need for speed. The relentless pace of technological advancement requires leaders and teams to adapt, learn, and execute efficiently to compete and succeed. It’s predicted that the rate of change will be so rapid that by 2030, 85% of jobs will be entirely new, requiring new skills for survival.1 As skill development becomes increasingly integral to the future of work, there is a growing emphasis on speed to skill.
What is Speed to Skill and Why Does it Matter?
Every employee requires a necessary investment of time and money for onboarding and training. Until they reach proficiency, firms can’t harness their full value. This is where ‘speed to skill’ becomes crucial – it measures the time needed to onboard and upskill individuals or teams, equipping them with the essential abilities and confidence required for competence in their respective roles.
Swiftly bridging the divide between training and proficiency is paramount. Accelerating onboarding and skill development boosts return on investment (ROI) and profitability and directly impacts key business outcomes such as reducing employee churn and amplifying overall productivity.
22% of staff turnover occurs within the first 45 days of onboarding, with the cost of losing an employee in the first year estimated to be at least three times their salay.2
5 Ways to Accelerate Speed to Skill
Fast-tracking skill development can be a bumpy road. Common hurdles to speed to skill include time-consuming tasks such as one-on-one coaching and personalized feedback. Moreover, demonstration of training mastery presents another challenge, underscoring the crucial role of assessment in effective skill development.
To pave the way for efficient and effective learning and development programs, incorporate strategies that proactively address competency gaps, help learners quickly retain new information, and foster a dynamic learning environment. Increasing the speed at which skills are acquired will, in turn, accelerate the time it takes to see an ROI by enhancing organizational efficiency.
Here are five best practices for fast-tracking speed to skill:
1. Establish Precise Learning Goals
Start by defining clear expectations. Align your objectives with training materials to optimize the learning journey. Well-defined goals enhance engagement, keep learners focused, and fuel a desire to learn and retain information quickly. Learning objectives also need to align with the real-world job experiences the learner will have, allowing them to see the connection between instruction and application.
2. Provide Timely, Personalized Feedback
Boost speed to skill through real-time, contextually relevant feedback. Provide immediate feedback within the learning flow to affirm positive behaviors, correct mistakes, and heighten learner engagement. Learners can promptly adjust their actions by receiving instant feedback, promoting timely and relevant knowledge retention so they are performing their job at their highest potential. Offering feedback at every step in the learning process is nearly impossible, as trainers, managers and even peers cannot be ever-present and so uncertainty in skill acquisition for the learner is constant. Feedback often happens only on the front lines, when it may be too late to correct a misunderstanding that can impact firm operations and outcomes.
3. Facilitate Skill Development through Practice
Skills are honed through practice, and deliberate practice reigns supreme in expediting the journey to proficiency. Ensure your training program emphasizes and consistently delivers measurable opportunities for practice, allowing learners to engage with and reinforce their newly acquired skills. Additionally, provide a safe environment where they can fail fast but safely, fostering an atmosphere conducive to effective learning and skill development.
4. Create a Consistent Evaluation Process
Set up a solid evaluation process that aligns with your learning goals to catalyze effective skill assessment and fast-track your employees’ competency. It keeps you from going down the wrong training paths, ensuring learners stay on track and progress toward the desired skill proficiency levels. When the expectations, methods, and terminology for feedback are consistent, learners have a framework that instills confidence. In addition, having a consistent methodology across the firm helps set standards that lead to faster growth and application of learning.
5. Leverage Tools
Harness the power of tools (especially now that we have AI-powered ones) to accelerate skill development. Tools can act as a force multiplier across your firm. And AI tools can multiply that again by quickly pinpointing learning objectives and offering scalable feedback. They can also ensure the continuity of consistent learning and practice experiences and streamline skill assessments. This technological edge increases the speed of skill acquisition while scaling training efforts across the entire firm.
Boost Speed to Skill with Traveling Coaches’ LegalMind+
As you can see, speed to skill can have powerful impacts on the firm when it comes to employee development. LegalMind+ is an AI-powered platform designed to expedite speed to skill. It automates time-consuming processes, optimizes learning experiences, and propels employees toward competence. With LegalMind+, you get evidence of acquired skills while automating time-consuming tasks tied to course creation and feedback all while elevating the use of consistent and meaningful assessments.
Tips for an Easy Transition to AI-Powered Learning
Transitioning to an AI-driven platform like LegalMind+ requires careful planning and communication. Here are some critical steps to ensure a smooth adoption:
Conduct training sessions: Equip teams with the knowledge and skills to navigate and utilize AI features.
Highlight user-friendly interfaces: Showcase how complex processes are simplified for ease of use, ensuring no technical background is needed.
Communicate the benefits: Share the advantages of AI adoption – it enhances efficiency, reduces administrative tasks, and enables a more strategic focus on employee development.
Establish feedback channels: Encourage open communication channels to share experiences, concerns, and suggestions.