EMPLOYEES WANT TRAINING: A Skillsoft survey* has shown:
- 70% of workers view training as essential for developing skills that directly relate to their role.
- 68% of workers felt workplace training was always relevant, regardless of seniority.
EQUIPMENT vs TRAINING: According to the National Center, a study of the Educational Quality of the Workforce (EQW)* shows:
- A 10% increase in equipment-spending only produced a productivity gain of 3.4%.
- However, a 10% increase in workforce education produced a productivity gain of 8.6%. (Over double the productivity gain!).
HIGHER PRODUCTIVITY: According to the American Society of Training and Development [now Association for Talent Development (ATD)]*, companies who were in the top quarter of per-employee expenditure on training saw up to 218% higher income per-employee than companies who spent in the bottom quarter.
INCREASED PROFITS: In the same study by ATD, the companies in the top quarter of per-employee training expenditure enjoyed 24% higher profit margins that those who spent less on training.
HIGHER ENGAGEMENT: With training, worker engagement goes up. A study by Dale Carnegie shows that companies with engaged employees outperform those without by up to 202%.