Opportunities for growth can really make or break employee retention ratings. It’s the reason why 76 percent of employees choose to stay with an organization. So, organizations throw overwhelming amounts of money at formal training programs — $164 billion in 2012, according to ATD. Unfortunately, research suggests they’re seeing very little ROI.
Formal initiatives do not impact employee development the same way social learning does. Eighty percent of learning takes place through on-the-job interactions with peers, experts and managers, according to Bersin and Associates, as opposed to a formal environment.
If managers aim to retain employees through development opportunities, they should invest in initiatives that make a difference, like social learning.
The infographic below — compiled by showd.me, an enterprise peer-to-peer learning platform — shares new trends impacting learning and development.
Some stats to note:
70 percent of people forget what they learn in formal training in just one week
66 percent of people don’t see opportunities for professional growth in their organization
86 percent of employees are learning what they need to know for work by collaborating with others
Trainees increased their performance by 22 percent through deliberate reflection and sharing lessons learned with others
Check out the full infographic below to discover how social learning can make a positive impact within your organization.
What do you think? How might social learning improve training at your organization?