Lifelong learning (LLL)—whether undertaken in a formal or informal setting—has five major benefits, as per a study by D Hildebrand and colleagues. LLL sharpens the mind and memory (staving off age-associated decline), boosts one’s confidence, and sharpens interpersonal skills, communication skills, and career opportunities. In professional sectors, pursuing lifelong learning can make a big difference between a stagnant and a stellar career trajectory, as well as a thinner or fatter paycheck. If you are considering adding a postgraduate degree or diploma to your list of achievements, here are a few reasons why you’re on the right track for success.
Lifelong Learning and Survival
Today’s organizations are facing volatile, uncertain global markets that are demanding changes in executive skills and education. Workers who wish to stand the test of time at a company, and evolve according to industry needs must embrace lifelong learning in addition to the technical and emotional skills that are a basic need for them to carry out their job. Because technological changes are happening at an alarming rate and business models are constantly being reformulated, it is important for companies to encourage employees to take control over their own learning and development. This can be achieved by forging learning paths for existing and new talent.
Diversity and LLL
Diversity in the UK is still a quality to be actively pursued. Currently, the employment rate for ethnic minorities stands at around 63%, compared to around 76% for white workers. Older workers, meanwhile, represent a rising proportion of the workforce, currently taking up around 33% of posts (up from 21% in the early 90s). Diversity is a major goal in many companies across the UK owing to a myriad of surveys showing that it bestows a plethora of benefits.
Diverse organizations earn 2.5x more cash flow per employee and make better decisions a whopping 87% of the time. They are also considerably more productive. Lifelong learning can help guarantee a team’s diversity by making it easier for employees from different backgrounds and generations to work together seamlessly, without existing gaps in technological and procedural savvy.
Workers Want to Learn
People in the UK are investing considerable amounts in their own pursuit of LLL. Around 61.5% of people study for a degree and between 2017/18 and 2021/22, the number of masters taught qualifications increased by 89,325. Many are also enlisting the aid of trusted tutors—not only for their children but also for themselves. The taboo on online learning is all but gone, with clients now having the possibility of conducting criminal record checks and interviews with prospective tutors and opting for free trial runs before making their decision.
Online tutoring, coaching, and mentoring are now bridging a gap for busy employees who aren’t able to reduce their working hours or travel long distances to boost their skill set. However, companies should back this interest up with LLL opportunities for their employees. Studies show that companies retention rates rise by 30-50% in companies with strong learning cultures.
For younger generations, the opportunity for LLL could very well seal the deal when it comes to applying for jobs in a company. Statistics indicate, for instance, that around 87% of millennials believe learning and development in the workplace is important and 76% believe professional development opportunities are one of the most important components of company culture.
Measures for Companies to Take
Companies wishing to make a real difference when offering LLL opportunities for workers should approach the issues from a multifaceted perspective. These include providing mentorship opportunities featuring structured meetings, workshops, and additional resources. Dedicated workshops and seminars can also keep employees up-to-date on relevant technological and industry-specific developments. Companies should also provide paid learning time, providing employees with access to free resources such as online courses, books, podcasts, and similar.
To boost training engagement, meanwhile, they can offer a wide array of incentives, including providing an education fund as part of a total compensation package, gamifying courses to boost engagement, and tying promotions to training. Instead of hiring specialists for new tasks, they can invest in training existing staff with an interest in expanding their skill set. Doing so will make employees feel more valued and inspire them to improve their knowledge base to help their company achieve its goals.
Summary
Lifelong learning is now no longer an optional “benefit” for a small set of workers. It is necessary for survival and success. Younger generations are no longer interested in investing the best years of their lives in a company that does not invest in updating their knowledge. They are demanding incentives such as free online courses, fully or partially funded online university postgraduate courses, and tree tutoring. Mentorship, meanwhile, has come to play an important role in forward-looking companies that are smart enough to tap into existing talent to update skills and boost performance levels and confidence in newer employees.
Featured image by Tim Mossholder from Unsplash
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