5 Key Takeaways

• 1

  Ongoing staff training is increasingly vital, with the half-life of skills now often less than 5 years.

• 2

  Global corporations are projected to invest over $380 million in learning and development programs in 2023.

• 3

  The 70-20-10 training model suggests individuals gain 70% of knowledge from job experiences, 20% from interactions, and 10% from formal education.

• 4

  Informal training methods, such as peer feedback sessions, can enhance customer service and staff development at no cost.

• 5

  Despite the value of informal learning, formal education remains the preferred training method for many companies.