Transcribed

The Death of Productivity: How Declines in Productivity Cost The U.S. $1.3 Trillion A Year

THE DEATH OF PRODUCTIVITY HOW DECLINES IN PRODUCTIVITY COST THE U.S. $1.3 TRILLION A YEAR 148 FAILING TO ADAPT NOT UP TO PACE KILLING PRODUCTIVITY 2.5 200 $1.3 YEARS MILLION TRILLION IS THE SKILLS HALF LIFE TO THE RAPID PACE OF THE CHANGE IN TECHNOLOGY? ESTIMATED IN LOSS TO THE US ECONOMY DUE TO THE DIGITAL SKILLS GẶP PER YEAR ADULTS IN THE US ARE PART OF THE DIGITAL WORKFORCE 3% 1 10 1947-73 73-79 OUT 79-90 OF 90-00 00-07 RATE THEMSELVES AS PROFICIENT WITH THE 07-13 DIGITAL TOOLS THEY USE' *2014 COST OF THE CRISIS • *ONE UNIT IS 100 EMPLOYEES 21% $10 OF TIME IS WASTED DUE TO INADEQUATE DIGITAL SKILLS MILLION IS THE ANNUAL LOSS IN COMPENSATION ALONE FOR A FIRM WITH 1,0004 EMPLOYEES SOLUTION 1 PLATFORM FLEXIBILITY CORE SKILLS 2 SEARCH & RESEARCH 2 3 3 DIGITAL ETIQUETTE DIGITAL SKILLS ESSENTIAL FOR THE 21ST CENTURY WORKFORCE 4 SECURITY & PRIVACY 5 PROJECT COLLABORATION & MANAGEMENT 6 ATTENTION MANAGEMENT STEPS 7 COMMUNICATION DIGITAL SKILLS ESSENTIAL FOR 8 WORKING WITH DOCUMENTS THE 21ST CENTURY WORKFORCE FOR YOUR BUSINESS FOR EACH DEPTARTMENT INTEGRAL TO YOUR BUSINESS TO CLOSE THE SKILLS GAP TO KEEP SKILLS UP TO DATE DEFINE GOALS DEFINE SKILLS ASSESS SKILLS DESIGN TRAINING REPEAT MODEL Grovo WHETHER YOU ARE TRAINING 5 OR 5,000, GROVO CAN GIVE YOU THE PLATFORM AND TRAINING YOU NEED TO CATCH UP, KEEP UP, AND MOVE AHEAD. TO SEE HOW GROVO CAN BENEFIT YOUR BUSINESS, VISIT: WWW.GROVO.COM/TEAMS 'THE HARRIS POLL: THE DIGITAL SKILLS GAP, HARRIS INTERACTIVE INC., (MAY 14, 2014) 2DELOITTE: HUMAN CAPITAL TRENDS 2014 SURVEY: TOP 10 FINDINGS MCKINSEY: THE SOCIAL ECONOMY: UNLOCKING VALUE AND PRODUCTIVITY THROUGH SOCIAL TECHNOLOGIES "BASED ON AVERAGE ANNUAL WAGE OF $50K (C) 2014 GROVO LEARNING, INC. ALL RIGHTS RESERVED. PRODUCTIVITY GROWTH (NON-FARM BUSINESS SECTOR)

The Death of Productivity: How Declines in Productivity Cost The U.S. $1.3 Trillion A Year

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With the recent flood of productivity oriented apps and software, it’s hard to imagine that labor productivity growth in the U.S. has slowed to levels not seen since the 1950’s. However, data show... s that is exactly what’s happening. The potential benefits of this influx of new tools has been offset by a labor force that is unable to employ them in the most efficient manner. Incredibly, of the 200 million Americans that make up the digital workforce only 10% would rate themselves as proficient with the digital tools they use, according to a Harris Poll. Exacerbating this problem is rapid technological change that has led to an average skill half-life of 2.5 years, which means that even the most adept employees can fall behind without consistent training. All these factors have combined to create the digital skill gap which is, at present, costing the U.S. economy an estimated $1.3 trillion per year. According to Grovo, a firm with 1,000 employees could be losing up to $10 million annually based on compensation alone. In order to demonstrate the breadth and cost of the digital skills gap Grovo Learning, providers of the only learner first training solution, assembled the following infographic.