By Ed Keller, Executive Director, MRII
“As an industry, we don’t invest in training, development and learning nearly enough. If you want to get into fighting shape for when this economy bounces back, give your teams time for training, learning, and rethinking. And be very intentional about giving your teams the time to do this, I mean very intentional.”
This important and impassioned advice came from Sago President Isaac Rogers in his recent webinar, “Ask Me Anything: State of the MR Industry with Isaac Rogers.” He goes on to say that training and learning will get you “…into fighting shape for when this economy bounces back.”
Issac also shared a chilling statistic during the webinar: “A 2019 global study of corporate functions found that the group LEAST likely to invest in training and learning is CONSUMER INSIGHTS, literally less than all other corporate functions.”
Education for Fulfillment and Success
He urges our industry to remedy this, with good reason. Committing to an educational path and investing in training is a win-win. Those who set themselves on a learning journey in our industry not only familiarize themselves with market research as a whole—placing them in a stronger position for strategic planning and business success—but also sets them up for greater fulfillment in their career. Our recent MRII-UGA research, “For the Love of Learning,” showed that individuals who are most satisfied with their careers often attribute their contentment to the presence of opportunities for continuous learning, which significantly contributes to their overall job satisfaction.
Improved Performance Through Educational Opportunities
Training and opportunities to learn not only leads to a more satisfied workforce, it also leads to better financial outcomes. McKinsey Global Institute’s recent report, “Performance through people: Transforming human capital into competitive advantage,” underscores the significance of skill development for both workers and companies. It reveals that companies that prioritize “human capital development” together with a focus on financial performance, tend to achieve more consistent earnings, talent retention, long-term success, and greater resilience during times of change—greater than those firms that focus on performance only.
Benefits to the Insights Industry
While individual growth and development are important aspects of training and learning, it’s essential to recognize that the broader industry also stands to gain significantly when there is a shared foundation and common ground among its professionals. The entire market research and insights ecosystem can benefit through common knowledge, skills and best practices—fostering collaboration and shared innovation and creating a positive ripple effect that benefits everyone involved.
Keeping Up with Rapid Change
Ongoing shifts reflect the industry’s rapid transformation over the past decade, and the rapid growth of ResTech has accelerated the pace of insight. The market research industry remains dynamic, with companies and consulting firms adapting to deliver integrated insights services, shaping the future of the field. In this fast-paced landscape, staying ahead requires a commitment to continuous learning and adaptation to emerging technologies.
To regain our growth trajectory and to deliver on the promise of our field, the people who work in our industry need a strong foundation from which to innovate, grow, and build.
We at Market Research Institute International Research Institute International and University of Georgia Center for Continuing Education & Hotel are ready to be the training partners for any agency, insights department or individual wishing to heed this call. Check out our industry-leading training and education courses here, or get in touch with us. We’d love to talk.
