Soft Skills ROI Secret!
by. Wm. Randy McKinley President/CEO "The Company Doctors"
July 26, 2020
Every $1 Investment....get $2.50 in Returns!
The difference between winning and losing the human capital game is understanding there is more than just hiring employees with hard skills to execute processes. Every company needs employees with more than Hard skills like technical skills, computer skills, Microsoft Office skills, Presentation, Project management, Design skills, Certifications, etc. Overall, hard skill'sdon't mean you will be successful personally or ensure a company will be successful.
Now lets discuss the reasons why!
MIT study found from a 12 month trial of soft skills training in 5 factories it delivered a 250% ROI in only 8 months.
Training employees on soft skills like problem solving & decision-making boosted productivity, made complex tasks more efficient and improved employee attendance.
Their Research has shown that soft skills account for 90% of what makes people progress up the success ladder.
World Economic Forum
In their 2018 Future of Jobs report showed of top needed skills trending for 2022 include active learning, creativity, critical thinking and analysis, complex problem-solving, leadership, emotional intelligence, and reasoning.
Stanford Research Institute International
They determined that 75% of long-term success in a job role depends on mastery of Soft skills and only 25% of that jobs success comes from technical/hard skills.
Soft skills are what separate average performers from high performers.
LinkedIn CEO Jeff Weiner has deemed soft skills to be the biggest skills gap in the US. When your workforce is plentiful in technical skills, but lacking in soft skills, you may notice that some elements of your business face challenges.
LinkedIn carried out a study in early 2018 across 100 metropolitan cities in the United States and discovered a shortage of 1.4 million people with communication skills, since soft skills, such as communication, can lead to the prosperity of your organization, training your workforce in these vital abilities makes sense.
If soft skills gap persists, it will hamper businesses—already, 65 percent of CEOs predict that people skills are going to have a strong impact on their businesses over the next several years.
According to LinkedIn's 2018 Workplace Learning Report, soft skills are the #1 skills gap in today's workforce—with 89 percent of executives reporting that it's difficult to find people with soft skills.
One Reason for the gap, it is typically easier to teach hard skills than soft skills and soft skills development isn't usually provided as formal training programs.
It's easier to hire for technical skills than soft skills because it's easier to measure the impact of the former.
Online Learning Platform Survey
In a survey of more than 31 million Learning Platform users across the globe, Soft Skills courses reign supreme and some top topic areas where learners spend their soft skills training hours where the company and employees win are:General Soft Skills like critical thinking, decision-making, presentation skills, strategic thinking and time management.
-Leadership & Management, with an emphasis on first-time manager skills.
-Communication & Teamwork skills, such as interpersonal communication and listening skills.
-Business Acumen, specifically business writing.
-Personal Development, including skills like managing your career and work/life balance.
-Customer Experience classes around listening to customers and enhancing customer experience.
-Creativity & Innovation to learn about generating creative ideas in the workplace.
-Diversity & Inclusion, such as diversity on the job and how culture impacts communication.
-Office Productivity, including email etiquette skills.
Businesses that Invest in soft skills training for employees are the ones growing in revenue and leading their industries. It doesn’t mean that a company needs to pay for skills development but giving employees access to these soft skills courses and more will help them on their career paths and benefit your company.
Secondly, In these times of change and uncertainty, providing access to training content that helps your employees develop their soft skills proves you’re committed to seeing a bright future for your organization, and for them as individuals.
The Company Doctors understands this winning scenario!
We developed a Online Virtual Learning Academy with 141 Online Soft Skills courses!
It is available to individuals & companies through a very low cost Subscription!
All subscriptions range from from $2-$9 a month per person!
Visit our Learning Academy at https://thecompanydrs.learnworlds.com/
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