58% of people feel trapped in their current role due to lack of training. And 23% of employees leave for lack of development opportunities and training. This is shown in the infographic below by Filtered.com.
This does not make for a good reading for any business. Essentially employee engagement goes down due to lack of training and since employee engagement can be correlated with performance we see a three way effect.
Lack of training demoralises work force and reduces employee engagement. And since employee engagement correlates to performance (source), performance is reduced which eventually hits business productivity.
As filtered.com state in their blog on using e-learning to improve employee engagement
“With a fast changing market, the key to staying in the game is to strategize in a way that maximises both lifelong learning and business productivity. Train your staff to keep their knowledge up to date, become engaged through learning and more productive in the work that they do.”
Other bite-size info:
- 52% of employees in a survey by Accenture said that a company’s use of technology was a major factor when selecting an employer
- 77% of businesses also believe using different learning technologies will help them respond faster to changing business conditions