Learning & development: Key Stats in 2024

Learning and development (L&D) strategies play a significant role in any company’s growth. The main aim of these strategies is to help employees within the business build upon their skills. The correct and appropriate adoption of such initiatives should see employees’ goals and performance mirror those of the company, thereby contributing positively to the success of the business’s continuity plan.

Despite the clear advantages of adopting a rigorous L&D regime, many CEOs fail to include L&D in their agendas. About 96 percent of business owners believe their business has suffered due to a skills gap in key areas.

It is in this context that this article will examine some of the key stats in key areas of L&D that companies should take into consideration for 2024:

Despite the clear advantages of adopting a rigorous L&D regime, many CEOs fail to include L&D in their agendas. About 96 percent of business owners believe their business has suffered due to a skills gap in key areas.

General stats on L&D

  • 60 percent of workers were impacted by the COVID-19 pandemic, which increased the need for new skills across all industries. Employees’ concerns regarding skill-building were piqued by this necessity; 55 percent reported feeling more worried, 41 percent stated it took them longer to complete tasks, and 22 percent acknowledged their job standard has dropped. This influences output, effectiveness, and ultimately, the company.
  • 72 percent of business leaders think highly specialized degree and certificate programs based on the strategic objectives of their company will lead to corporate growth.
  • 96 percent of Fortune 500 CEOs in the c-suite express interest in understanding the costs and effects of their business’s learning and development activities.
  • 47 percent of employees say their extra training and education helped them advance within their current company.
  • 94 percent of employees believe they would stay at a firm longer if there was investment in their L&D.
  • More than 22 million UK workers believe they lack the necessary abilities to seize unique opportunities over the next five years.
  • 59 percent of L&D professionals identify upskilling and reskilling as the top priority for training programs.
  • 50 percent of all employees will need to be reskilled by 2025.
  • 46 percent of professionals report spending one to four hours per month on their own time learning about remote work or refreshing their remote work skills.
  • 69 percent of companies have increased employee development in recent years.
  • Only 27 percent of L&D professionals use survey tools to measure program effectiveness.
47 percent of employees say their extra training and education helped them advance within their current company.

Stats on the war on talent

  • 69 percent of employers globally are struggling to find skilled workers, especially in high-demand areas such as operations and logistics, manufacturing and production, IT, sales, and marketing.
  • 80 percent of companies propose remote working to their prospective employees to gain a competitive edge on other firms.
  • Nearly 69 percent of organizations find it difficult to fill positions.

Stats on hybrid working

  • 39 percent of small businesses employ classroom-led training, 25 percent use blended learning techniques, and 17 percent use virtual classrooms.
  • 32 percent of large businesses are more likely to use computer-based or online learning techniques than other training delivery methods.
  • 68 percent of employees prefer to learn or train on the job.
  • 69 percent of firms use technology to help them with their compliance processes.
  • To remain employed, 74 percent of workers are eager to learn new skills or retrain.

Stats on Millennials

  • By 2025, millennials will make up the majority of the workforce (75 percent).
  • 21 percent of millennial workers have switched jobs in the last 12 months.
  • 62 percent of millennials looking to switch jobs are considering a switch to freelancing.
  • 44 percent of millennials would be more likely to increase their work engagement if their managers met with them regularly.
  • 73 percent of millennials put in more than 40 hours of work per week.

Stats on Gen Z Learning and Development

  • Gen Z prefers to pursue long-term careers and see themselves working for an average of four companies in their professional life.
  • 77 percent of Gen Z are more likely to apply for a job in companies that value diversity.
  • 82 percent of Gen Z employees find it important to have mental health days; half want mental health training.
  • 37 percent of Gen Z quit their jobs because they are not ‘passionate’ about their work.
  • 3 in 10 employed Gen Z members have not received workplace training.

Stats on sustainability

  • Scientists have estimated that the planet is due to heat up by over three degrees Celsius by the year 2100, posing major risks to many investments which will become damaged or obsolete due to a changing environment.
  • Climate disasters in 2020 caused at least USD 150 billion-worth of damage worldwide.
  • One of the climate’s biggest issues is biodiversity loss. Biodiversity can be defined as “the variety of plant and animal life in the world or in a particular habitat, a high level of which is usually considered to be important and desirable”.
  • To counteract biodiversity loss, an extra USD 600 to 800 billion will need to be spent per year by 2030.
  • Renewable energy is on the rise, with the percentage of gross final energy consumption in European Union countries reaching 22.1 percent in 2020 compared to 2010’s 14.4 percent.
  • In Europe, the fight against greenhouse gas emissions continues, with the percentage of total greenhouse gasses reducing to 74.2 percent in 2020 from 76.8 percent in 2009.
  • Click here for more stats on sustainability. 
Unique Insights into the World of Corporate Learning

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