Skill Development is the Key to Business Performance—And the Clock is Ticking

The Skills Gap Isn’t Coming - It’s Already Here

Every CEO says people are their most valuable asset. But when you look at where budget cuts start, training and development are often the first to go. That’s not just a missed opportunity—it’s a costly mistake.

We’re not in a stable, predictable world of work anymore. Technology is advancing faster than training programs. Roles are shifting faster than job descriptions. And most businesses are flying blind.

Here’s what you need to know:
If you're not investing in skill development, you’re already behind—and it's costing you more than you think.

What the Numbers Say

  • Companies with strong learning cultures are 92% more likely to innovate, 52% more productive, and 17% more profitable
    — Bersin by Deloitte

  • 218% higher income per employee for companies with formal training programs
    — Association for Talent Development

  • Every time you lose an employee due to lack of growth, it costs you 33% of their salary
    — Work Institute 2023 Retention Report

  • 76% of employees say they would stay longer at a company that offers continuous learning
    — LinkedIn Learning 2024 Report

This isn't theoretical. These numbers are happening right now in companies that made skill development a priority.

You Don’t Have Time to Wait

Let’s be blunt: the skills you needed last year are already outdated.

According to the World Economic Forum, 44% of workers' skills will be disrupted by 2027. That’s less than two years away.

And yet, 70% of employees say they don’t have the skills they need to do their current jobs.
Let that sink in. Most of your workforce is operating at a deficit—and they know it.

The longer you wait to act, the more expensive it gets:

  • More turnover

  • More hiring costs

  • Slower time-to-productivity

  • Missed opportunities to innovate

Companies that wait for a crisis to invest in development are already too late.

What Experts Are Saying

“The single biggest driver of business impact is the strength of an organization’s learning culture.”
— Josh Bersin

“Skills are the new currency. Companies that fail to invest in them will fall behind.”
— World Economic Forum, 2025 Jobs Report

“The cost of doing nothing is bigger than the cost of training.”
— Forbes Human Capital Council

What You Should Be Asking Right Now

Instead of asking “Can we afford to invest in skill development?”
Ask: “Can we afford not to?”

Ask:

  • Do we know which skills we’re missing today?

  • Are we growing our people, or just expecting them to keep up?

  • Are our managers equipped to lead development conversations?

  • What’s our plan to upskill for future roles that don’t exist yet?

Make Skill Development a Strategic Priority - Now

This is bigger than training courses or checking a box for compliance.
It’s about building a workforce that can adapt, innovate, and win—no matter what’s coming next.

Companies that act now will see:

  • Better retention

  • Faster onboarding

  • Stronger internal pipelines

  • A more resilient business model

Companies that delay will pay—through attrition, lagging performance, and constant churn.

The skills gap isn’t just a talent issue - it’s a business risk. And skill development is your insurance policy.

Kelly Painter