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Human Capital term is born
Popularised by the economist Gary Becker human capital is the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value. Within L&D this can help to create a workforce that has a verity of needs, different levels of experince and aspirations. Metrics involved in this will look at the rates of turnover and ultimately the value of capital that an organisation has in is workforce -
Term 'Knowldge Economy' is born
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Union Membership
Between 1979 - 2015 union memebership has reduced by 50%. This has meant that employees have become more dependant on employers providing information on what worker rights are. L&D have often had to design and deliver workshops to line manages on worker rights. This means that L&D have had to expand thier own undertanding of employment law. When evluating the success here L&D work closley with HR to measure how much better line managers are when it come to HR policy and procedure. -
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Information and ICT as both a catalyst and necessity
Organisations recognise that they should have a workforce that has access to Information, Commuincation Technlogies (ICT) and information held within it. L&D recognise that there are untold avenues that in the modern digital age leaners can go and seek whatever learning they want - this makes it difficult for L&D to access the true value of any learning that is carried out. -
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Career Switching
Reduction in manufactiring and construction throughout the 1980's and the 1990's has seen a huge number of the workforce move into the servce industry. One of the challenges this has presented is ensuring that this workers that are switching careers have the right learning suport to ensure the transition is smooth. Example of the goal industry giving ex miners oppetunities to learn new skills in any new sector and free driving lessons. -
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Ageing workforce
Between 1992 and 2012 the number of people aged over 50 in the workforced increased from 21% to 29% respectively. For L&D this means that a verity of learning styles and oppertunities have to be accounted for. Skill levels and atritudes may be different and this should always be taken into consideration. One of the key things that L&D can support is where young leaders are managing an older, less skilled, workforce. -
National Minimum Wage Act 1998 comes into force
This means that workers on zero hour contracts must earn an hourly wage. This potnetially makes zero hour contracts and temporary working nmore appealing as they are guranteed to earn £X.XX. Pontential barrier to L&D activties is that these type of workers may be relunctant to partcipate in L&D actitives as they may feel that it would be detremental to earning potential -
Remote working
Technological advancements such as cheap wifi as home has seen a suge in the number of people classed as remote workers. Remote workers produce little that is tangable so eveluation is based on the quality of the work that they produce. Interaction with L&D may be reduced due to oppertunties so L&D has embraced new technologies, skye, webex, as a way of deliveing learning. -
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Data-driven decision making
Using data gathered from past events and/ or experience people/ organistaions can make well informed decsions. L&D can apply this when looking at learning intervention - what is the problm, e.g. thier is skills and /or knowledge gap proved back underperforming staff. What has worked before - analyse evaluation outputs, what scored well and what didn't. Data driven decsion can act as a barrier as often people can become over relient on the data. -
Twitter launched
Twitter is now seen as one of the key learning platforms of the modern age. It has over 100 millin daily users and messages can be quickly deseminated to a large auidnece. Click throughs and reads can be analysed to evluate the content that is duistributed by an L&D function. -
Part time working
•Since the 2007 recession 65% of the 1.1 million rises in employment has been part time work and 58% have been self-employed. L&D need to use the 70:20:10 model and L&D need to curate learning that will pull learners to it that can learn when and where they. -
Increase in formal qualifications
CIPD states that in 2001 24% of the workforce had somekind of formal qualifuications up from 11% in 1993. To L&D this means that we are seeing a workforce with a more rounded knowledge of a variety of things not just single tasks. L&D have had to innovate in ensuring that the quality of learning interactions matches he expectations of those with qualifuications. The unexpected benefit is for colleagues without formal qualifications who get a better learning exerince in work because of this.