One of the key challenges U.S. organizations are facing right now is retaining talent. The cost of employee turnover can be into the millions — especially when considering the ongoing talent war.
The Bureau of Labor Statistics reported in early 2022 that over 48 million U.S. workers quit their jobs in 2021. Employees are citing low pay and the inability to grow as some of the top reasons why they are leaving their current employers. In fact, workers are 12 times more likely to quit their jobs if they do not have sufficient professional development opportunities at the company, said a 2021 IBM study.
To remain competitive and attract and retain top talent in this market, organizations must provide professional development opportunities to workers. By providing employees with the right skills, organizations see a higher retention rate, higher employee engagement and more internal talent mobility.
Calculating an exact return on investment for upskilling and reskilling your employees can be difficult. Luckily, you don’t have to do it on your own. In a recent study we commissioned Forrester Consulting to conduct, we’ve found that Degreed clients achieved 312% ROI and $4.7M net present value (NPV) over three years.
To help you calculate your own economic impact, we’ve commissioned a dynamic calculator from Forrester Consulting to help you determine your organization’s ROI for implementing the leading learning experience platform, Degreed. Reach out to a Degreed representative to calculate your own ROI.
Curious about more findings? We’ve laid out a snippet of them:
Want to Learn More?
These findings are just the beginning. Read about all the results in the The Total Economic Impact™ Of Degreed study conducted by Forrester Consulting. Download it today.
Want to calculate your own ROI? Reach out to a Degreed representative, we’re excited to help guide your organization to savings.