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The value of lifelong learning in professional industries

Australian careers are changing, with emerging technologies, industry shifts and economic factors influencing the nature of work.

Careers are also simply getting longer because of lifespan.

Approaches to education need to shift too, towards a lifelong learning approach that better equips employees with the skills needed for a changing labour market and the careers of the 21st century.

This report explores the importance of and benefits to lifelong learning in an Australian workplace context, by examining the value of ongoing education and training for employees and businesses in professional industries.

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Business ease of finding employees with necessary skills

  • Very Hard
  • Hard
  • Easy
  • Very Easy
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The old three-stage pattern of preparing for work; working; and then retiring is fast disappearing, yet many current workers have not had the opportunity to develop the career management competencies that they require to cope with, let alone thrive in, such an environment.

Key findings from employers surveyed

  • 88%of employers find it hard to get employees with the skills they need.
  • 49%of employers look to hire new talent when approaching skills shortages in their organisation.
  • 2.5XThe cost of replacing a bad hiring decision within 6 months is 2.5 times the worker’s salary.

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