5 Surprising Employee Development Statistics You Should Know

1. If a company invests in employees’ careers, 94% said they would stay at the company longer.

  • Employees who have access to professional development opportunities are 15% more engaged.
  • Retention rates are 34% higher among organizations that offer employee development opportunities.
  • 58% of employees (62% of Millennials and GenX) say professional development contributes to their job satisfaction, a major factor in retention.

2. 74% of workers say that a lack of employee development opportunities is preventing them from reaching their full potential.

  • Only 29% of organizations have a clear learning and development (L&D) plan for their employees.
  • 34% of employees say that career development opportunities motivated them to leave their previous position.
  • 87% of millennials say professional growth and career development are very important.
  • 76% of employees are looking for opportunities to expand their careers.

3. Leadership training increased participants’ capacity for learning by 25% and their performance by 20%.

  • 60% of millennials want leadership training.
  • 41% of managers overseeing three to five employees say they have had no training at all. 59% of managers overseeing one to two employees say the same.

4. 91% of employees want personalized, relevant training.

  • 54% of employees would spend more time on employee development if they were given specific courses recommendations geared toward helping them reach their professional goals.
  • A well-planned employee training program would positively impact engagement for 93% of employees.
  • 85% of employees want to choose their own training times and remain in control of their training schedule.

5. Companies that spend $1,500 or more on employee development per year report 24% higher annual profits than organizations that spend less.

  • 64% of L&D professionals say that reskilling current employees to fill in skills gaps is a top priority.
  • JPMorgan Chase, Amazon, and PwC are investing in their employees in a big way:
  • JPMorgan Chase increased their $250 million upskilling investment to $600 million.
  • Amazon is spending $700 million on upskilling for their employees.
  • PwC is investing $3 billion in upskilling over the next three to four years.

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