Workforce Development and Business Outcomes

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In June 2014, The Economist Intelligence Unit conducted a survey on behalf of CrossKnowledge and Future Workplace exploring the ties between workforce development and business outcomes. Hundreds of executives were asked how workforce development contributes to a company’s brand and bottom line; what type of worker competencies companies hope to develop through training; how development schemes can help companies retain talented employees; and which training strategies have worked best for their organisations.

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While the world of business evolves into a globalised environment, disruptive technological changes and shifting demographics are driving substantial evolutions in the ways business is conducted. Companies increasingly recognise that in order to stay competitive, they must invest in employee development and skills training programmes, not only to improve productivity, better serve customers, and strengthen company culture, but also to foster innovation and recruit and retain talented next-generation executives.

This paper identifies major trends likely to influence how companies approach employee training and development schemes, as well as the benefits that business hope to recoup from investment in employee training.