Does training and professional development make a difference?
In one of the most ambitious attempts to quantify the value of all learning and development in an organization, Accenture examined more than 250,000 employee records containing detailed information about training, cost rates, total time with the company and promotion dates.
The researchers then divided the records into two groups: the 50% of employees who received the most training and the 50% who received the least.
After comparing the two groups, the researchers found that the group that had received the most training:
- was 17% more productive
- performed at 20% higher levels relative to their peers
- and stayed with the company 14% longer.
Conclusion? Training doesn’t cost- it pays.