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THE ECONOMIC BENEFITS OF IMPROVING LITERACY SKILLS IN THE WORKPLACE

Most formal modelling in the past has used as a starting point a scenario of 2-3°C warming. In this temperature range, the cost of climate change could be equivalent to a permanent loss of around 0-3% in global world output compared with what could have been achieved in a world without climate change. Developing countries will suffer even higher costs. However, those earlier models were too optimistic about warming: more recent evidence indicates that temperature changes resulting from BAU trends in emissions may exceed 2-3°C by the end of this century. This increases the likelihood of a wider range. | There are clear economic benefits in improving workplace literacy but the message has not yet reached many Canadian workplaces. Benefits of literacy training cited by employers were the improved learning facility of the employees their ability to work together as a team and improved labourmanagement relations. CONFERENCE BRIEFING THE ECONOMIC BENEFITS OF IMPROVING LITERACY SKILLS IN THE WORKPLACE BY MICHAEL R. BLOOM MARIE BURROWS BRENDA LAFLEUR AND ROBERT SQUIRES Enhancing literacy levels in the workplace improves bottom- line performance for Canada s employers and gives employer s a better chance for success in their careers. The results of the Conference Board s study The Economic Benefits of Improving Literacy Skills in the Workplace demonstrate that there are clear economic benefits for both employers and employees in improving workplace literacy. The findings contained in this Conference Briefing and in the forthcoming research report to be released in summer 1997 show that employers enhance the performance of their businesses in a wide variety of ways that strengthen the bottom line and employees are better able to succeed in the workplace when their literacy skills improve. These findings are significant for both business and individuals. In the past choices about investing in literacy were often made without having the right information to make the best- informed decision. Today however there is growing recognition that literacy is such a critical factor in corporate and personal success that it demands greater consideration and understanding. Employers are beginning to pay more attention to the potential impact of literacy on their business success and employees are asking themselves to what extent literacy skill levels affect their own personal success and economic wellbeing. This study clearly shows that they should be even more attentive to the literacy issue than they are today. Employees with higher literacy skills earn more income are less likely to