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Do Your Reskilling and Upskilling Programs Drive ROI?

Reskilling and upskilling programs provide significant value for organizations and employees alike

In the next five years, 40% of core skills will change and 50% of the global workforce will need reskilling and upskilling, according to research by the World Economic Forum.  

In the U.S., 82% of employees and 62% of HR directors said they believe that workers will need to reskill at least once a year to maintain a competitive advantage in a global job market. 

While these figures may seem daunting, studies have also shown the potential for significant ROI for reskilling and upskilling programs—a study by MIT Sloan School of Management, for example, found that a 12-month workforce training program focused on soft skills delivered a 250% return on investment (ROI) within eight months of completion.

Reskilling and Upskilling: Key Focus Areas for 2022

It’s no surprise that 46% of Learning and Development leaders surveyed in LinkedIn Learning’s 2022 Workplace Learning Report said Reskilling and Upskilling were a top focus area this year, second only to Leadership and Management Training, and followed closely by Digital Upskilling / Digital Transformation. 

Employee Performance Support and Implementing Learning Tools and Analytics ranked fifth and sixth, respectively.  

Employees Increasingly Expect Companies to Provide Learning Opportunities

By 2030, it’s predicted that 75% of the U.S. workforce will be made up of Millennials. Millennials have consistently reported that on-the-job training has a major impact on their decision to accept a position or remain with an employer.

In fact, 93% of Millenial and Gen Z workers surveyed said they expect employers to provide learning opportunities. 

It’s clear that reskilling and upskilling programs will only become more important in the modern workplace, but creating and delivering — not to mention maintaining  personalized learning content that can be easily reused across experiences and publication types as your organization grows and evolves, is no small task. 

Watch a recent webinar hosted by The Learning GuildWhy it’s Time for a Content Design Revolution, for a closer look at how the right content strategy—paired with the right technology—can supercharge your organization’s reskilling and upskilling programs to drive measurable ROI in the face of emerging technologies and evolving skill requirements.

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