A study conducted by The EvoLLLution online newspaper to examine the need for continuing education in the workforce has suggested that employee income and corporate productivity increase due to employer-sponsored continuing education program. The paper, entitled Lifelong Education and Labor Market Needs, found that 96 percent of employers reported an increase in job performance with continuing education while 87 percent said continuing education has a positive effect on employee income. Education was also found to enable employees to more easily bridge the gap between entry-level positions and more advanced position with 78 percent of employers integrating continuing education strategies into promotions.
“Education gives corporations a way to improve their productivity and reduce costs, while also giving employees a way to increase their income and advance within the company,” said Amrit Ahluwalia, managing editor of The EvoLLLution. “The question that remains is how to increase corporate and individual participation in professional development education.”
The paper also showed that companies that support continuing education and career development for their employees help diminish the costs of turnover involved with outside hires adding to the benefits of increased efficiency and cost savings.
To access the full report or to view a summary of the results as an infographic visit EvoLLLution.com/research.