Skills and training - benefits for your business
Upskilling your workforce helps your business:
- Be competitive. Analysis by the OECD suggests that average labour productivity could be increased by as much as 5% if the level of skills mismatch in the UK was brought into line with OECD best practice levels.
- Uplift productivity of 6 to 12 percent - making financial sense for more than 75% of businesses. Analysis by Mckinsey and Company 1
- Boost productivity and efficiency bringing in of new ideas and ways of working.
- Benefit from new technologies for example AI or 3D printing.
- 94% of employees say that they would stay at a company longer if it invested in their career development. LinkedIn's 2018 Workplace Learning Report 2
- Be competitive and support with controlling salary costs. Companies competing for employees with scarce skills with external hires typically paid about 20 percent more than reskilled workers.
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