The Rise Of L&D In Boardrooms
Nilakantan emphasises that L&D should focus on personalisation, accessibility, learning culture, learning technology and measurement
In today's fast-paced business landscape, boards of directors prioritise learning and development (L&D) to stay ahead of the curve. Staying updated on industry trends, regulatory changes and emerging technologies for fostering a culture of continuous learning and improvement within the organisation.
L&D encourages diversity of thought and experience to drive innovative decision-making which transforms L&D as a business driver from HR function to boardroom priority.
Krishnan Nilakantan, Chief Learning Officer, Ramco Systems shared the insights of thinking patterns in a boardroom. He highlighted the important conversations that happen around long-term success and technological changes.
He also noted that the boardroom is facing serious challenges in the area of government and social impact and ubiquitous leadership after the post-pandemic area.
“The boardroom is taking performances of chief executive officers (CEOs), extremely seriously. Mckinsey in its research, said that 38 per cent of CEOs don't even last three years. It used to be about ten to twelve years and really performing CEOs last around 8 years. So the tenacity element has become a very serious aspect of the boardroom which is also visible in many CEOs, CSOs and CIOs getting fired. There is definitely a lot of pressure in terms of delivering results, whatever the results may be, depending on the role,” said Nilakantan.
Nilakantan also shared the thinking patterns which are an integral part of (L&D). He emphasised that L&D should focus on personalisation, accessibility, learning culture, learning technology and measurement.
Nilakant also noted that there's a huge gap between HR and boardroom, however it can be bridged with ‘AAA framework’ as he suggested. AAA framework proposed altitude, alignment and achievements aspects.
“The board and the CEOs are interested in the altitude level of workonomy, not in the workforce. Their conversation on alignment revolves around performance, resources, opportunities, financials, innovation and targets (PROFIT) and they expect achievements in the form of return on investment, return on expectations and business impact,” said Nilakantan.
By prioritising L&D, boards can ensure they remain relevant, effective, and equipped to navigate the complexities of an ever-changing business environment.
