Veritas Learning and Development

Veritas Learning & Development 

Veritas L&D helps organizations equip their people with the needed skills to achieve and sustain transformational impact. 

We believe that an organization’s capabilities are the key competitive differentiator now and in the future. Our research shows that organizations focusing on skill building and having the right resources are three times more likely to succeed in change efforts. We created Veritas L&D as a center of excellence to help organizations build capabilities at scale. We focus on developing strong leadership, driving enterprise-wide transformations, and improving performance in areas like digital, agile, sales, and operations. Our programs support the entire organization, from top leadership to front-line employees. By aligning with clients’ business objectives and contexts, we tailor programs that drive value and support broader transformation efforts.

We help organizations accelerate performance and unlock value through leadership development and capability building at scale. Specifically, we focus on the following areas.

Veritas Learning & Development: Insights and Practical Guidance from the Field

For professionals seeking to hone their organization’s learning and development efforts, Veritas Learning & Development  is the ideal resource.

An organization’s capacity to enhance the capabilities of its workforce and create a culture of continuous learning are increasingly vital to remaining competitive. These trends make an effective learning and development (L&D) function more critical than ever.

People need to be nurtured and developed to become effective and productive leaders in their organizations.

A management development program is a powerful tool to develop leaders in your organization. Let’s take a look at why and how you can start your own program.

People make change happen, and people make it last.

What is management development?

Veritas L&D  develop managers help close skills gaps at an organizational level. But they also help to close that gap on a personal level for new and up-and-coming managers.

When employees distinguish themselves in a company, they become candidates for management positions. But simply promoting these candidates without further training can lead to several issues.

For instance, it creates a lack of consistency in managers and management styles across an organization. 

Management development helps upskill these candidates. And, it also establishes consistency for how management is done.

Why is Veritas L&D program for management development important?

When you develop leaders within your own organization, you gain more mobility than if you rely on outside hires. Additionally, employees who work at a company with internal mobility stay nearly twice as long as those at companies with low internal mobility. Moreover, fostering internal leadership development helps build a stronger organizational culture and enhances employee engagement. Consequently, this approach not only retains talent but also reduces recruitment and training costs. By investing in your current employees, you create a more resilient and adaptable workforce, better positioned to meet evolving business challenges and drive long-term success.

Investing in upskilling and leadership development is one of the best ways to improve your existing assets and grow your business.

Management skills don’t appear on their own. These crucial leadership qualities need to be nurtured in employees who have potential.

And when you develop existing employees to their highest potential instead of outside hires, they already have inner knowledge of your organization. They already understand the organization they will soon lead.

Implementing a management development program has several benefits for an organization. Here are four reasons your company should invest in creating a management development program:

1. Increase your human capital

Human capital is the sum of the knowledge, intelligence, and experiences of your workforce. One of the best ways to increase human capital is by educating and training your employees.

A management development program is a great way to close the skills gap that is stopping your best employees from achieving their full potential.

2. Create a culture of innovation

Innovation can give your company a competitive advantage. This is especially true in a saturated market.

A culture of innovation can make it easier to find creative solutions to challenging problems.

Because of this, innovation can:

• Help your company cut costs
• Improve productivity and efficiency
• Develop new features for products and services that competitors don’t have

The more an employee has lived through a variety of experiences, the more they’ll be able to innovate.

Management development is a great way to provide them with some of these experiences. It opens up the door for them to explore new perspectives.

3. Increase employee retention

Employee turnover is expensive for companies. Work Institute states that employee turnover costs about 30% of an employee’s annual salary.

Since the median wage of an employee in the US is $48,672, the median cost of employee turnover is about $15,000.

Work Institute also states that 37.9% of employees leave their job after less than a year. 

But it’s possible to increase employee retention. As 2021 Workplace Learning Report stated, employees stay longer at companies that hire from within.

However, to hire from within, you need to develop your managers and leaders first. It’s an investment, but this should pay off in the long run when your best talent sticks around.

4. Improve succession planning

The current managers in your organization won’t be there forever. Whether they move up in the ranks, retire, or decide to work elsewhere, their positions will need to be filled eventually.

When you have a management development program already in place, it’s easier to plan for the succession of these positions. You can spot trainees with the most potential and prepare them to take on more responsibility before the time comes.

Over the past decade, the global workforce has been continually evolving because of a number of factors. An increasingly competitive business landscape, rising complexity, and the digital revolution are reshaping the mix of employees. Meanwhile, persistent uncertainty, a multigenerational workforce, and a shorter shelf life for knowledge have placed a premium on reskilling and upskilling. The shift to a digital, knowledge-based economy means that a vibrant workforce is more important than ever: research suggests that a very significant percentage of market capitalization in public companies is based on intangible assets—skilled employees, exceptional leaders, and knowledge. ¹ 

All of these trends have elevated the importance of the learning-and-development (L&D) function. We undertook several phases of research to understand trends and current priorities in L&D . Our efforts highlighted how the L&D function is adapting to meet the changing needs of organizations, as well as the growing levels of investment in professional development.

To get the most out of investments in training programs and curriculum development, L&D leaders must embrace a broader role within the organization and formulate an ambitious vision for the function. An essential component of this effort is a comprehensive, coordinated strategy that engages the organization and encourages collaboration. The Veritas L&D framework, which consists of nine dimensions of L&D, can help to strengthen the function and position it to serve the organization more effectively.

Develop people capabilities. Human capital requires ongoing investments in L&D to retain its value. When knowledge becomes outdated or forgotten—a more rapid occurrence today—the value of human capital declines and needs to be supplemented by new learning and relevant work experiences. ³ Companies that make investments in the next generation of leaders are seeing an impressive return. Research indicates that companies in the top quartile of leadership outperform other organizations by nearly two times on earnings before interest, taxes, depreciation, and amortization (EBITDA). Moreover, companies that invest in developing leaders during significant transformations are 2.4 times more likely to hit their performance targets. ⁴

The most important way to engage employees is to provide them with opportunities to learn and develop new competencies. Research suggests that lifelong learning contributes to happiness. ⁵ When highly engaged employees are challenged and given the skills to grow and develop within their chosen career path, they are more likely to be energized by new opportunities at work and satisfied with their current organization.

Traditionally, learning focused solely on improving productivity. Today, learning also contributes to employability. Over the past several decades, employment has shifted from staying with the same company for a lifetime to a model where workers are being retained only as long as they can add value to an enterprise. Workers are now in charge of their personal and professional growth and development—one reason that people list “opportunities for learning and development” among the top criteria for joining an organization. Conversely, a lack of L&D is one of the key reasons people cite for leaving a company.

Develop transformative leadership mindsets and capabilities 

Leadership and management effectiveness are crucial to performance. Companies with top quartile leadership effectiveness generate 3.5 times more shareholder return. Conscious leaders, who are able to lead themselves, are better able to lead others, their organizations, and the systems they operate in. Our proven leadership and management learning journeys can be integrated into a wide range of contexts from mergers and acquisitions to initiatives driving cultural change to supporting new ways of working. Our programs are designed for all levels of the organization from the top team to middle management to frontline employees depending on the unique needs of an organization. We believe leadership and management behaviors and mindsets play a critical role unlocking the power of all transformations. We often combine our leadership and management programs with thematic focused capability building, for example building procurement or digital capabilities, to ensure impact is tied to achieving business objectives.

Value driven: We prioritize the mindset and behavior shifts that drive value in an organization. We ground learnings in the business context by linking to real challenges and incorporating work on real problems.

Engage influencers: We align the top team on the leadership model and shifts required so they own it. We engage critical leaders in the development and delivery to ensure real change happens.

Architect world class journeys: We leverage the science of learning and behavior change to architect learning journeys. We deploy change management efforts to ensure leaders are inspired and link the program to talent systems such as performance management and advancement. 

Measure and evolve: We track program impact from participant experience to return on investment and continually iterate and innovate for maximum impact.