In our most recent blog, we discussed why a learning culture is so important for any organization to grow and thrive. But, what you may not have considered is that continuous learning is necessary to survive as well.
UWA online put it this way:
“Although 90 percent of CEOs think their company is facing disruptive change driven by digital technologies, 70 percent say that their organization does not have the skills to adapt. “This doubt reflects the fact that skills are becoming obsolete at an accelerating rate,” according to Deloitte. “Software engineers must now redevelop skills every 12-18 months. Professionals in marketing, sales, manufacturing, law, accounting, and finance report similar demands.”
New technology is coming out every day and it is changing the corporate landscape at a pace we’ve never seen before. Adapting to meet the needs of your customers and today’s consumers is harder than ever. Adapting to changing times, investing in new training, and pouring time, energy and resources into your employees is more important than it has ever been.
You’ve probably heard the phrase “Adapt or Die” and when it comes to learning, this is no different. What happens when companies refuse to adapt or continue to invest in their employees? Here’s just a few:
- Star team members move on: Great team members want to be challenged, motivated and invested in. If they don’t receive this, they may move on, and you could lose a valuable asset.
- Trust and engagement decline dramatically: If team members aren’t invested in, they won’t feel valued. When a team member does feel valued, they will trust the leadership of the organization more and be further engaged in the work they are doing.
- Expenses may grow as new employees constantly must be hired and re-trained: If you continually lose great team members and have to hire new employees, the cost of constant on-boarding and HR expenses could grow significantly.
Building a continuous learning culture doesn’t just improve morale and improve performance, it could actually help your bottom line too. If you need help building a continuous learning culture, check out our free eGuide.