Skillsoft (NYSE: SKIL), a leading platform for transformative learning experiences, today announced results from three commissioned studies conducted by Forrester Consulting on behalf of Skillsoft quantifying the Total Economic Impacttm and benefits of the company's learning solutions. Forrester found that composite organizations representative of interviewed businesses using Skillsoft Leadership & Business, Technology & Developer, and Compliance solutions realized a 263% ROI, 274% ROI, and 317% ROI, respectively, over a three-year span.
Today's businesses are facing a unique set of challenges. Finding, hiring, and retaining talent is more difficult than ever due to a tight labor market, existing teams are feeling heightened stress levels from skills gaps, and cultures and processes have been disrupted with the rise of hybrid work. As organizations adjust, they are embracing learning programs to invest in the growth and resilience of employees, and in turn, build a more sustainable workforce that drives business transformation. In fact, learners are spending 37% more time year-over-year (YoY) upskilling and reskilling according to Skillsoft's Lean Into Learning Report.
"Building a strong culture of learning is essential for any organization looking to attract and retain top talent, create a competitive advantage, and grow the bottom line," said Apratim Purakayastha, Chief Product & Technology Officer, Skillsoft. "We believe Forrester's findings validate Skillsoft's ability to deliver real, quantifiable value by providing an all-in-one learning solution that scales with the needs of our customers. Whether adding critical new skills to stay competitive, aligning current staff with future needs, or embracing compliance as a key part of business culture, learning is the key driver of workforce transformation."
Forrester Consulting interviewed Skillsoft customers to understand the business benefits and cost savings of using the company's learning solutions. Findings captured in the resulting three studies include:
The Total Economic Impacttm of Skillsoft Leadership & Business
The Forrester study determined that using Skillsoft's Leadership & Business solution produced a collective benefit of $72.56 million over three years for a composite organization. Specific benefits included:
The Total Economic Impacttm of Skillsoft Technology & Developer
The Forrester study determined that using Skillsoft's Technology & Developer solution produced a collective benefit of $21.5 million over three years for a composite organization. Specific benefits included:
The Total Economic Impacttm of Skillsoft Compliance
The Forrester study determined that using Skillsoft's Compliance solution produced a collective benefit of $3.37 million over three years for a composite organization. Specific benefits included:
To learn more about each study, please visit:
About Skillsoft
Skillsoft (NYSE: SKIL) delivers transformative learning experiences that propel organizations and people to grow together. The Company partners with enterprise organizations and serves a global community of learners to prepare today's employees for tomorrow's economy. With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Through a portfolio of best-in-class content, a platform that is personalized and connected to customer needs, world-class tech and a broad ecosystem of partners, Skillsoft drives continuous growth and performance for employees and their organizations by overcoming critical skill gaps and unlocking human potential.
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