Reimagine, Reskill, Reinvent: Emerging Trends in Learning & Development

Speaker: MVN Rao, Chief Learning Officer, Larsen & Toubro

Date:  15th February 2024

MVN Rao on Emerging Trends in Learning & Development At our  Learning & Development (L&D) event, Rao delivered a compelling presentation on how organizations must rethink their approach to learning in today’s fast-changing world. He emphasized the need to adapt to emerging business, technology, and workforce trends through the lens of Reimagine, Reskill, and Reinvent.

Contextual Shifts Driving L&D Transformation

Rao began by outlining the broader context that is reshaping organizations :

• Business Changes: Organizations are reconfiguring their business models and supply chains to navigate a world defined by VUCA (Volatile, Uncertain, Complex, Ambiguous) and BANI (Brittle, Anxious, Non-linear, Incomprehensible).
• Technological Advancements: With the rise of tools like ChatGPT, Automation, and Robotic Process Automation (RPA), technology is reshaping workplaces and redefining the skills employees need.
• Regulatory Developments: Changing guidelines from entities such as SEBI and MCA add layers of compliance and influence organizational priorities.
• The Talent Conundrum: Post-COVID workforce dynamics highlight multi-generational employees with varying expectations for engagement, loyalty, and growth, creating new challenges for leaders and HR teams.
• Sector-Specific Needs: Industries such as traditional brick-and-mortar businesses, technology companies, and startups all have distinct talent requirements, further driving the need for tailored learning solutions.

Emerging Trends in Learning & Development

To address these challenges, MVN Rao identified several key trends shaping the future of L&D:

1. A Shift to Learner-Centric Approaches
   Organizations are blending self-directed and organization-directed learning, giving employees more ownership over their development journeys.
2. Technology-Enabled Learning
   Platforms like LMS and LXP are leveraging AI-powered recommendation engines to provide anytime, anywhere learning. The shift to gamified, simulation-based, and byte-sized content caters to today’s shorter attention spans.
3. Democratized Learning
   Unlike the past, where learning was exclusive to select groups, organizations are now focusing on enabling everyone to learn—anytime and in the flow of work.
4. Overcoming the Learner Divide
   With a workforce spanning multiple generations, L&D teams must cater to differing learning styles and expectations, ensuring inclusivity in learning approaches.
5. Learning as Entertainment
   Rao noted that entertainment is now the biggest competitor to corporate learning. Making learning engaging and enjoyable is key to retaining employees’ interest.
6. Measuring ROI on Learning
   With increased scrutiny on learning budgets, organizations are prioritizing initiatives that deliver measurable business impact.

Leadership Development in Focus-

Rao also highlighted evolving trends in leadership development:

• The need for leaders at all levels has led to role-specific academies and competency-based development.
• Leaders are increasingly embracing roles as facilitators and mentors, guiding their teams with practical knowledge and insights.
• Leadership development now spans emerging areas like ESG, diversity, and digital transformation.
• The rising demands on leaders have underscored the importance of wellness and resilience programs, as executives grapple with shifting goalposts and rising expectations.

Crafting an Agile L&D Strategy

Rao emphasized that building a future-ready workforce requires an agile and comprehensive L&D strategy. At L&T, this involves:

• Aligning learning programs with business needs and values.
• Investing in a robust learning ecosystem that combines in-house academies, partnerships with institutions like IIM Indore and IIT Madras, and international collaborations with SDA Bocconi and the University of Texas, Austin.
• Leveraging high-impact action learning projects (ALPs), coaching programs, and developmental journeys to drive both individual and organizational growth.

Key Takeaways from MVN Rao’s Presentation

1. Organizations must embrace Reimagine, Reskill, and Reinvent as core principles for navigating today’s complex environment.
2. Technology and learner-centric approaches are redefining L&D, but the human element remains irreplaceable.
3. Leadership development must evolve to meet the demands of a fast-changing world while addressing leaders’ well-being.

Closing Note

Rao concluded his presentation with an inspiring reminder of the critical role people play in an organization’s success:

"Machinery may be there, buildings may be there... but without people, it's all nothing. People are our only assets."
— Henning Holck-La