According to a study conducted by coaching company BetterUp, resilient companies have more innovation and less employee burnout. When it comes to the bottom line, such companies also experience higher revenue growth by millions of dollars than those companies that fail to give workers a sense of belonging.
Workers who directly report to a resilient manager are 78% less likely to leave their organization and 52% less likely to experience burnout. The data compiled by BetterUp also shows that such managers tend to give their workers a higher sense of purpose and are 20% more likely to be flexible and creative in their work.
Resiliency has proved to be extremely important when dealing with the current pandemic and economic crisis. As working remotely became the new normal for a majority of today’s corporate workforce, many of those same workers were upping their skills via online learning. Online education website, Udemy, saw a 231% growth in membership, and LinkedIn Learning noted that workers had watched more than 7.7 million hours of online courses consumed in the first half of 2020.
Companies that encourage the training and development of new skills in their employees are showing a greater ability to adapt to the rapid changes happening in today’s global and highly competitive marketplace.
According to a statement made by Alexi Robichaux, Co-Founder and CEO of BetterUp, “Every company sets out to be resilient, but most don’t know how to define, measure, or build this characteristic among their workforce.” he said.
“As the report demonstrates, the business case for investing in workforce resilience is clear: improved employee wellbeing, motivation and productivity, more creative and effective teams, and financial growth for the company.”