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| Photo: Ryan Rose |
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| Photo: Cisco Blog |
New social contracts and the explosion of consumer-driven mobile devices are reframing the workplace. In addition, we have the most diverse, multi-generational workforce in history.
At the same time, though, there are workforce challenges. One of the most significant issues, both from an economic and company culture perspective, is that of employee disengagement. Gallup reports that one disengaged employee costs an organization approximately $3,400 for every $10,000 in annual salary. Actively disengaged employees cost the U.S. economy an estimated $450 to $550 billion annually, due to lost productivity.
In light of the financial and productivity costs of disengagement, how can we create a workforce that is more engaged and productive? This question becomes even more pressing when we realize that 50 percent of jobs across all sectors will require technical acumen and new skills over the next few years.
To keep up with this skills surge, the answer is to provide employees with continuous learning and development via new digital social learning opportunities. Research by Josh Bersin reveals that this type of ongoing learning spurs a quest for new solutions. Continuous learning cultures are:
- 92 percent more likely to develop novel products and processes
- 56 percent more likely to be first to market with products and services
- 52 percent more productive
- 30 to 50 percent higher in retention and engagement rates
- 17 percent more profitable than their peers
Source: Cisco Blogs
