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5 business-critical things
you miss out on when you don’t invest in your teams’ skills
What is the ROI of learning investments? Many companies don’t consider the cost of lost opportunities—what they pass up by not investing in learning. Here’s what procrastination could be costing your company.
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Connections between companies that create a learning culture that drives innovation and business success are hard to ignore. Firms that invest in continuous learning
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Productivity gains, increased innovation, and a competitive edge
are more likely to be first to market
experience higher productivity
are more likely to innovate
46%
37%
92%
The cost of doing nothing
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Remember Amazon’s one hour of downtime during Prime Day in 2018?
Prevention of system downtime and costly mistakes
Amazon lost up to $100 million within just 60 minutes.
Google’s five-minute outage in 2013 cost it roughly $545,000.
And these losses aren’t restricted to the tech giants of the world. 82% of companies have experienced unplanned downtime over the past three years, and that unplanned downtime can cost a company as much as $260,000 an hour.
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Talent retention and reduced onboarding costs
of employees say they would stay at a company longer if it invested in their career.
93%
The cost of replacing employees increases with the skill level of the employee. The cost to replace a midrange manager is about 20% of their annual salary.
So an executive earning $200,000 could cost as much as $426,000 to replace.
The cost to replace a top executive can be as high as 213% of their salary.
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attracting the industry’s top performers
of tech talent said they joined an organization for the career opportunities it offered.
of millennials in IT cite the desire to learn new skills as a top reason for leaving their current job.
of Gen Xers in IT cite the desire to learn new skills as a top reason for leaving their current job.
of tech talent cited learning and education as most important when choosing an employer.
Click on a percentage below for more information.
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Protecting against security breaches
The costs of a security breach—both financially and to customer and shareholder trust—can be astronomical.
The global average cost of a data breach is
$3.86 million
After a breach in 2017 that exposed the private information of over 160 million accounts, Equifax spent $700 million tightening its security, and even more on settlements. And Wall Street lowered the company’s valuation by $4 billion.
Breach costs for organizations without security automation were 79.3% higher—an average of $6.71 million versus $2.90 million—than for those with fully deployed security.
Organizations that emphasize training are quicker at detecting attacks and more efficient at isolating them. Even a modest investment in security awareness and training has a 72% chance of significantly reducing the business impact of a cyberattack.
The World Economic Forum estimates that by next year, more than half (54%) of employees are going to need significant training, with more than a third of that number (35%) needing at least six months’ worth of effort. The O’Reilly learning platform enables enterprises to immediately drive business outcomes like increased productivity, reduced time-to-market, and iron-clad security systems. Ready to learn how?
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