Close the IT skills gap while achieving a 274% return on investment

January 5, 2023 | What's Hot | 2 min read

As our recent 2022 IT Skills & Salary report shows, most IT leaders around the world (66%) are still experiencing skills gaps on their teams. With a constantly evolving technology environment, and intense competition for specific skillsets, a transformative learning experience, focused on technical skills gaps, can provide a real competitive advantage for organizations across every industry.

Understanding the impact of Skillsoft’s Technology & Developer Solutions

For organizations considering which transformative learning experience to implement for their organization, Skillsoft commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study to examine the potential return on investment (ROI) enterprises may realize by deploying Skillsoft Technology & Developer Solutions.

For the purposes of this study, Forrester interviewed five representatives from four companies with experience using Skillsoft Technology & Developer solutions and aggregated the interviewees’ experiences and combined the results into a single composite organization, a $10 billion multinational technology company called GlobalBeta.

Subscribe to the Skillsoft Blog

We will email when we make a new post in your interest area.

Select which topics to subscribe to:

Results at-a-glance

After conducting the study, Forrester found that deploying Skillsoft Technology & Developer solutions will help businesses to:

  • See a 274% return on investment over three years.
  • Expand their employee skill based by $11.8M over three years.
  • Obtain a net present value of $15.75M over three years.
  • Achieve a payback in a period of < 6 months.

Diving deeper into the numbers

While all organizations interviewed came from distinct industries with unique business challenges, after their investment in Skillsoft Technology & Developer solutions, the main quantifiable impacts include:

  • Expanded employee skill base added value to the organization. Skillsoft attracted incremental learners who gained valuable new skills, and it also helped retain current employees, saving GlobalBeta over $11.0 million in costs to onboard those skills.
  • Freed up over $460,000 of professional time. Skillsoft’s transformative learning platform, Percipio, features an intuitive interface, simple reporting functions, and the ability for learners to manage their own enrollments—freeing up the learning team from administrative tasks to focus on the organization’s learning goals.
  • Broadened technical knowledge of non-technical personnel. Several interviewees noted that, since the advent of cloud computing and more technology-driven business processes, even their non-technical employees needed to understand technological concepts. Skillsoft’s solutions included courses that allowed financial, procurement, and other executives to ask the right questions of vendors and hold their own in conversations about technological advances.

See for yourself

To get the complete and detailed analysis, we encourage you to download the full Total Economic Impact™ (TEI) study here.