New workforce research from Degreed identifies the links between continuous learning, revenue growth, employee engagement and agility
PLEASANTON, Calif., Oct. 12, 2021 (GLOBE NEWSWIRE) -- A positive learning culture is directly linked to greater organizational agility, faster revenue growth, and increased employee engagement. These are some findings from Degreeds How The Workforce Learns 2021 report, which unpacks the value of positive workplace learning experiences at a time when business leaders are grappling with challenges like the great job migration and skills shortages. Currently, 55% of the workforce state that theyre likely to look for a new job in the next 12 months. Degreed research found that employees want more guidance on how and what to learn, and they want more diverse and active learning experiences that go beyond the standard live, virtual and online classes. It also highlights the critical role and habits of managers and the importance of getting feedback for career development.
Degreed asked more than 2,400 workers from 15 countries, across retail, healthcare, financial services, technology, professional services, and travel and hospitality, about the behaviors, values, and assumptions that lead to positive learning and career growth experiences at work. Respondents were divided into those who rated their cultures as positive (promoters) and those who rated it as neutral or negative (detractors). The report explores the differences between these two groups.
The link between performance and learning was explored. Promoters are 53% more likely to learn in order to perform better in their current roles. Promoters are also 50% more likely to upskill to prepare for their next potential role. Detractors are disproportionately motivated to learn only to complete requirements (68% higher in the detractor group), highlighting this groups low levels of engagement.
The findings also challenge the industry's obsession with content as the only solution for learning and instead show there are four key factors that correlate with more continuous and impactful upskilling and career development:
- Guidance on what and how to learn
- Diverse and active development experiences
- Feedback and insights on progress
- Opportunities to practice, apply, and stretch skills
In a positive culture, opportunities for career growth are readily available and employees feel more in control of their career, with 81% of promoters stating that they have access to easy-to-use tools for their career planning and 73% saying its easy to find new roles internally. While promotions are important in a positive learning culture, How the Workforce Learns data shows that opportunities to move laterally or work on collaborative stretch assignments are just as important and boost retention. Promoters are 235% more likely to switch to a new function in their organization, 101% more likely to work on temporary projects and 189% more likely to work with a mentor or coach; ensuring all of their skills are used to their full potential.
The role of managers in creating strong workplace cultures is also highlighted, with promoters being 270% more likely to say that their manager supports their development. Conversely, detractors were 92% more likely to feel that their manager hasnt meaningfully supported their development over the past year.
It is more critical than ever to ensure a workforce has the right skills to transform, succeed, and adapt to change. By honing in on the factors that create a positive learning culture in organizations, business leaders can ensure that their upskilling investment is truly engaging their people and driving innovation.
Discover more about How The Workforce Learns 2021 here.
About Degreed
Degreed is the workforce upskilling platform for one in three Fortune 50 companies. We connect all your learning, talent development, and internal mobility opportunities to intelligence on the skills your business needs next. And we do it all in one simple, fluid, skill-building experience thats powered by your peoples expertise and interests. So you can transform your workforce from within. Founded in 2012, Degreed is headquartered in Pleasanton, California, with additional offices in Salt Lake City, New York, London, Amsterdam, and Brisbane.
Learn more about Degreed: Website / YouTube / LinkedIn / Twitter
Media Contacts:
Sarah Danzl
Head of Global Communications
sdanzl@degreed.com
