According to the latest ADP Research report, only 24 percent of the global workforce feels confident they possess the skills necessary for career advancement.
The report reveals just 17 percent of employees strongly believe their organisations are investing in the skills needed for career progression. This gap highlights the untapped potential within the global workforce, with many workers expressing dissatisfaction over the lack of comprehensive upskilling opportunities.
Mary Hayes, Research Director of People & Performance at ADP Research, said, “Education alone is not enough to fill the skills gap. The world of work is changing at light speed, and organisations need to do their part to close the skills gap.”
Training as a Key to Retention and Productivity
The analysis shows a connection between effective skills development programmes and organisational success. Workers who believe their employers are equipping them for future roles are nearly six times more likely to recommend their workplace to others. They are also 3.3 times more likely to report being highly productive.
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Retention rates also improve with access to on-the-job training. Employees who receive training tailored to future skills are twice as likely to remain with their organisation compared to those who lack such opportunities.
Despite the apparent benefits of robust upskilling initiatives, a notable disparity exists in satisfaction levels among different employee groups. Cycle workers, defined as those performing repetitive daily tasks, report particularly low satisfaction with employer investment in training. Only 9 percent of men and 7 percent of women in these roles express contentment with their upskilling opportunities.
Skills Development as a Strategic Priority
With workers consistently rank career advancement opportunities as a top reason to stay with their employer, second only to flexible scheduling, the importance of investing in upskilling initiatives cannot be overstated.
“Our research shows that a skilled workforce is more loyal to their employers—and more productive. Yet only a small fraction of workers are upskilled within two years of being hired,” said Nela Richardson, chief economist, ADP. “If companies want to benefit from the enormous technological advancement to come, they must start with investing in the skills and career progression of their workers.”
