The average lifespan of the S&P 500 is shorter than ever, with 75% of the companies on the list projected to be replaced within the next decade. At the same time, employees’ single company tenure is also decreasing, with numbers among Millennials and Gen X workers shrinking even faster.
This type of churn in the economy is nothing new. Businesses ascend. Businesses decline. And employment rises and falls right alongside. What is new is the unprecedented pace at which change is happening. It makes lifelong learning not just important, but essential to helping organizations cope with yesterday’s changes and drive toward tomorrow. Yet for Learning & Development teams to become drivers of change, they need the support and buy-in of company leadership. Effective leaders understand the value of learning, they’re adept at getting out in front of advancing trends and taking advantage of them, and they’re seeing results too. According to a recent Harvard Business Review study, 70% of companies that align learning with business priorities are able to improve company revenue.