It's no secret that companies who invest in learning and development for their employees reap rewards in the form of higher revenues, engagement and profit margins. But there's no point in investing in learning and development if it has no direct impact on business performance or ROI.
Check out these mind blowing statistics about corporate learning and what actions you should be taking in 2020:
1. According to the 2019 Training Magazine industry report, companies spent 42.1 hours on average training employees in 2019.
ACTION: How does your company compare? Talk to us about how you can invest in learning the smarter way.
2. According to the same report, training expenditures per learner hit a 3 year high in 2019.
ACTION: Even if you're not spending as much on learning and development, make sure you are spending it on the areas that matter. If you're looking to prepare your leaders for digital transformation, consider investing in Developing Digital Leaders.
3. On average, 87% of companies admitted to not using Augmented Reality, Virtual Reality and AI as learning technologies.
ACTION: Download our guide that explores the use of Virtual Reality in leadership development and learn why you should be using these learning technologies to improve your workforce.
4. According to the LinkedIn workplace learning report, there was a 5% increase in the use of Mobile learning last year.
ACTION: Consider using microlearning platforms like Axonify to reinforce the critical knowledge of your teams from the click of a button.
5. According to IBM, new hires are 30 times more likely to consider leaving a company if they don't believe they can achieve their goals at that organisation.
ACTION: Make sure your new hires are engaged at work, through the use of personalised learning journeys and upskilling sessions devised to bring out their strengths in the workplace.
Find out more about how Biz Group uses a learning formula for business results to develop teams and leaders to be able to reach their full potential.