TalentLMS Study Reveals 80% of Executives Link Employee Growth Mindset to Revenue Growth, But AI Brings New Challenges

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Oct 08, 2024, 08:03 ET

Executives warn generative AI could hinder the development of a growth mindset in the workplace.

SAN FRANCISCO, Oct. 8, 2024 /PRNewswire/ -- TalentLMS, a leading learning management system, has released its latest report on Growth Mindset in the Workplace, based on a survey of 300 business leaders and 1,000 employees in the U.S. The findings reveal that while executives recognize the critical role of growth mindset in driving success, they also express concern over the potential negative impact of generative AI on key soft skills.

A growth mindset is the belief that people can develop their intelligence, abilities, and talents over time through effort, practice, and learning.

"As leaders, we must embody this growth mindset and lead by example," said Nikhl Arora, CEO at Epignosis, parent company of TalentLMS. "We must be the first to embrace new challenges, to admit our mistakes, and to celebrate the learning process. By doing so, we create an environment where everyone feels empowered to be bold and get out of their comfort zones."

Key findings from the study:

80% of executives believe a growth mindset contributes directly to revenue growth.
89% agree future business success depends on leaders who embrace a growth mindset.
64% report higher productivity and performance, and 58% cite improved employee engagement as a benefit.

Despite the clear benefits, both executives and employees face common obstacles in developing a growth mindset:

Fear of failure and reluctance to step out of comfort zones.
Difficulty in dealing with negative feedback and criticism.
Resistance to change and new ideas.

Executives agree that leaders must take action to overcome these barriers:

90% emphasize the importance of leading by example.
87% stress the need for continuous learning opportunities across the company.
84% believe normalizing discussions around failure is crucial.

While 96% of executives claim they embody a growth mindset, only 45% of employees agree that their leadership demonstrates this mindset in practice. This disconnect highlights a critical gap that needs to be addressed for organizations to succeed.

Furthermore, a significant finding of the study is that 53% of executives believe generative AI could hinder the development of crucial growth mindset skills, such as:

Active listening
Critical thinking
Time management

This underscores concerns about the role of technology in shaping the future workforce and the need for a balanced approach to AI integration in the workplace.

The study also sheds light on the value employees place on growth and development, with 52% of employees noting that they would leave their current jobs for a company that offers more opportunities for continuous learning and development.

"It's a clear call to action for leaders: invest in your people's growth or risk losing them," commented Arora.

Download the full research: https://www.talentlms.com/research/growth-mindset-workplace-report

About TalentLMS
Trusted by 70,000 teams, TalentLMS is the training platform built for success and designed with simplicity in mind. With a course library, an intuitive interface, and all the tools you need to create transcendent training, you'll be up and running in no time.

SOURCE TalentLMS