FEATURE decade ago , yet they ’ re now critical to business success .
We ’ re not equipping people with the skills needed to thrive in these emerging roles . According to the Open University ’ s Business Barometer , 70 % of organisations say skills shortages are causing recruitment struggles , with many reporting it ’ s stifling innovation . This is the paradox , while the future demands adaptability , businesses are cutting back on the one thing that guarantees it , training .
Why the ‘ do nothing ’ strategy will fail
Training budgets can often get slashed when economic headwinds hit . But what ’ s the cost of inaction ?
Research consistently shows that companies investing in upskilling see far better outcomes . For instance , a McKinsey study found businesses with strong L & D cultures are 1.5 times more likely to outperform competitors . Conversely , organisations that neglect training face disengaged teams , higher turnover and diminishing innovation .
If you ’ re worried about retaining your best talent , here ’ s some food for thought : LinkedIn ’ s Workplace Learning Report revealed that 94 % of employees would stay longer at a company if it invested in their career development . That ’ s almost everyone .
Failing to invest doesn ’ t just hurt your current workforce ; it impacts your ability to attract new talent too . In a recent report from Deloitte , it was found that Millennials and Gen Z workers , who make up a growing share of the job market ,
RESEARCH CONSISTENTLY SHOWS THAT COMPANIES INVESTING IN UPSKILLING SEE FAR BETTER OUTCOMES . www . intelligentcxo . com
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