LTG seeking better integration of technologies
Firstly, the Interview considered the macro forces affecting this industry, with the specialist sharing their outlook for training budgets throughout the remainder of 2021 and into 2022. Investments in learning and development are increasingly viewed as a key differentiator for organisations, we heard, and many are back to pre-COVID levels. Classroom training has taken the biggest hit from the pandemic, with spending being diverted to virtual platforms.
The specialist then outlined their thoughts on the pros and cons of the LTG-GP merger, and explored why GP Strategies reported a significant decrease in revenue in 2020. While they see a “lack of strategic and clear leadership” as a negative force, organisations have also been investing in their own learning and development functions. This has caused industry competition to heat up and in turn the wallet share for GP Strategies has “naturally become smaller as a services organisation”. As the cost of building content has fallen, companies like GP Strategies “have to make it more cost-effective”.
Overall, the specialist is optimistic about GP Strategies’ future, but only if LTG has a more direct say in how the company is organised. “I think they would ultimately be more successful than letting GP continue to operate independently and choose whether or not and how they’re going to support LTG clients.”
They added: “What LTG, I believe, is looking for in the GP Strategies relationship, and I think it’s a huge pro for GP Strategies, is to better integrate all of their technologies.” On the other hand, they explained why, by no longer being “technology agnostic”, GP Strategies potentially has more to lose.
To access all the human insights in Third Bridge Forum’s Learning Technologies Group – acquisition of GP Strategies & resulting value proposition Interview, click here to view the full transcript.
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