The EvoLLLution, an online newspaper for and by those who know higher education best, today announced the results of a study conducted to shed light on the growing need for continuing education within today's workforce. The research paper, entitled Lifelong Education and Labor Market Needs, suggests that continuing education increases both employee income and corporate productivity.
A third party research firm surveyed employers across North America to get their viewpoints on continuing education and professional development. The results showed that 96% of employers said continuing education improves job performance and 87% said it has a positive impact on pay scale, with many citing a direct correlation, especially in the healthcare field.
The research also showed that education allows employees to manage the skills gap between entry-level and mid-level positions, thus facilitating advancement with 78% of employers factoring continuing education into promotions. Furthermore, companies that support employee education for advancement can mitigate turnover costs associated with outside hires, thereby saving money and increasing efficiency.
"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."
In an effort to answer this question, The EvoLLLution has dedicated September to fully exploring corporate training and professional development in a month-long special feature, kicked off with the release of this research paper. The month will consist of articles by top education experts including Chris Proulx, Executive Director at eCornell, and Dan Pontefract, Senior Director of Learning and Collaboration at TELUS, and will investigate topics ranging from how higher education institutions need to change to better serve corporations to whether the corporate training market is an effective strategy to combat shrinking higher education budgets.
To read the full research paper or view the results in an inforgraphic, please visit: www.evolllution.com/research