The global workforce is experiencing significant disruption. The future of work involves ongoing automation of routine tasks, robotics throughout the organization, and meaningful commitments to diversity, equity, and inclusion.
The COVID-19 pandemic altered the relationship between employees and employers; many workers now demand hybrid or remote opportunities and improved work-life balance.
Demographic changes continue to roil the employment landscape. Gen-Z has high expectations for impactful work and career advancement. Meanwhile, Gen-X and Boomers are redefining retirement and looking for reskilling or upskilling opportunities.
A recent analysis by the Korn Ferry consulting firm estimates that 85 million job openings could go unfilled due to a lack of workers who are prepared for the careers of the 21st century. Yet many employers continue to ignore the need for reskilling and upskilling due to both inertia and the perceived cost of investing in learning & development and training.
A report jointly authored by the World Economic Forum and Boston Consulting Group confirms that corporate training for the future workplace is a significant investment. In the United States, for example, it costs approximately $24,800 per person to ensure the acquisition of skills that are fit for purpose and relevant to an era of digital disruption.
However, this upfront cost must be measured against the long-term financial drain associated with recruitment and onboarding efforts. For example, Gallup estimates that a typical firm with 100 employees and an average salary of $50,000 will burn through $660,000 to $2.6 million annually due to turnover and staff replacement costs.
Ergo, improving employee satisfaction through innovative learning and development initiatives could enhance your organizational resilience and agility while boosting staff retention.
A McKinsey Global Survey found that the automation revolution will drive the need for an employee training revolution. Indeed, 90 percent of the surveyed executives and managers confirmed that they already struggle with skill gaps or anticipate them by 2025.
Profound changes should be expected across the workplace ecosystem:
Ongoing technological and economic disruption means that competitive firms must prioritize talent acquisition and maintain a culture of continuous learning within their organizations.
Edflex’s world-leading platform provides tools that enable you to incentivize your employees to become lifelong learners.
Here are eight key reasons why Edflex is both cost-effective and educationally effective:
Think of Edflex as your in-house global learning and development content team but at one fraction of the cost and none of the hassle.
Edflex provides customers with qualified curated learning content that is continuously evaluated, updated, and refreshed. Our customers benefit from 7 Learning Domains, 30 Subdomains, 7 Languages, 5 Formats, and localized learning content in 7 different languages. Our personalized learning options help your learners and leaders prioritize learning at the time of need.
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