On March 25th, 2013, Decoda Literacy Solutions, in partnership with the Canadian Literacy and Learning Network (CLLN), brought together senior public, private and non-profit leaders to learn about the impact of low adult literacy rates and contribute to solutions for addressing the current and looming labour and skill shortages in BC.
The discussion focused on elements that became part of a BC Workforce Literacy and Essential Skills Strategy and was informed by CLLN’s new report, entitled Investing in Up-skilling: gains for individuals, employers and government.
The report identifies several key findings, including:
- Direct annual savings resulting from an assumed one-time $29 billion investment in up-skilling Canadian adults 16 and older would be $2.92 billion: $330 million on Employment Insurance, $2.1 billion on Social Assistance, and $490 million on Workers Compensation
- Investment in up-skilling Canadians would increase earnings by $85.25 billion, or an average of $3,244/worker annually
- Tax revenue and program savings resulting from this investment would increase annual fiscal return for governments in Canada by 425%
Decoda presented the elements of our BC Workforce Literacy and Essential Skills Strategy on May 23, 2013 at the annual conference of the B.C. Chamber of Commerce.