Upskilling — acquiring advanced skills through more education and training — will help employees stand out in today's job market. At least that's what 80% of 6,600 working professionals between the ages of 21 and 65 from 18 countries and five continents believe.
The 2023 Global Workplace Skills Study from Emeritus, a leader in professional education, also reveals that 74% of respondents would choose a job at an organization that invested in their education over one that did not.
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The study aims to assess how professionals approach learning and skill development amidst continued economic, geopolitical, and technological change. Overall, the findings show that interest and investment in pursuing continuing education continues to rise globally, with significant uptick in the past year.
What's more, they highlight opportunities that education programs provide for companies to increase employee engagement, drive retention, and attract new employees."
"Given changing workforce expectations and economic uncertainty, it's more important than ever for employers to create an environment where employees want to work, which means providing the necessary tools to help employees upskill and advance their careers," Charlie Schilling, president of Enterprise Business and Workforce Development for Emeritus, told BenefitsPRO. "Learning and development is no longer something employees want, it's something both employees and employers need in order to stay competitive."
Additional takeaways from the study include:
- Individuals seek stability as new technologies intensify anxiety.
Tech-driven skill gaps are a global concern, with 53% of respondents worried they'll be replaced by technology if they don't continue developing skills. Half of them believe they don't have the necessary skills for career advancement, and 61% said they prioritize job stability when considering new roles — underscoring the need for employers to provide clear growth paths.
- Workforce learning drives stronger retention and culture.
Professionals with competitive skills still have workforce advantages: 30% of global respondents said they are likely to leave a job in the next year, and 52% plan to transition to a job in a new field. For employers concerned about productivity and retention, it's worth noting that 82% of respondents report higher engagement when learning new things.
- Upskilling creates competitive advantage.
More than two-thirds (67%) of hiring managers view professional education as crucial for employee development and agree that organizations should hire for skills rather than degrees alone (69%).
Read more: Science and data to improve hiring outcomes in 2023: Survey
- Online learning is here to stay.
Pandemic-related remote learning fundamentally shifted learner expectations. Between May 2020 and January 2023, interest in fully online learning programs rose by 8.5%, and interest in hybrid learning programs increased by 17%. Flexibility, access, and up-to-date courses are contributing to interest in learning online.
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