Lifelong learning is an essential part of personal and professional development. It allows individuals to continually develop and improve their knowledge and skills, which can lead to increased earning potential, job satisfaction, and personal fulfilment. For organizations, investing in lifelong learning can help to enhance the capabilities of their workforce, allowing them to stay competitive and relevant in a rapidly changing business environment.
Here are some key points to consider:
- Employee engagement is crucial: According to Gallup’s employee engagement research in Europe, companies with a highly engaged workforce are 21% more profitable.
- Disengagement can be costly: Disengaged employees have 37% higher absenteeism, 18% lower productivity, and 15% lower profitability. This translates into a cost of 34% of a disengaged employee’s annual salary or $3,400 for every $10,000 they make.
- Engaged employees perform better: Engaged employees experience less burnout, stay in organizations longer, and are better at adapting and innovating. By investing in lifelong learning and employee skills development, organizations can help to enhance employee engagement, improve productivity, and boost profitability.
- Lifelong learning is key for individuals: According to the OECD Skills Outlook 2021, lifelong learning is key for individuals to succeed in labour markets and societies shaped by megatrends such as increases in life expectancy, rapid technological changes, globalization, migration, environmental changes, and digitalization.
- Skills are essential for lifelong learning: The OECD Learning Compass 2030 distinguishes between three different types of skills: cognitive and meta-cognitive skills (critical thinking, creative thinking, learning-to-learn and self-regulation), social and emotional skills (empathy, self-efficacy, responsibility and collaboration), and practical and physical skills.
- Generative AI has the potential to be a major game-changer for businesses: This technology allows for the creation of original content by learning from existing data. By enabling the automation of many tasks that were previously done by humans, generative AI has the potential to increase efficiency and productivity, reduce costs, and open up new opportunities for growth.
In conclusion, lifelong learning is a valuable investment for both individuals and organizations. By investing in lifelong learning, organizations can enhance their competitiveness and profitability while providing their employees with opportunities for personal and professional growth.