Total Economic Impact Study Shows Pluralsight Empowers Faster Product Development, PV of $11.3 Million
Pluralsight, the enterprise technology learning platform, announced the results of a new Forrester Consulting study that examined the financial impact companies gain from using Pluralsight’s technology learning platform. The Total Economic Impact Of Pluralsight, an October 2017 commissioned study conducted by Forrester Consulting on behalf of Pluralsight, found that Pluralsight customers realized a return on investment (ROI) of 295 percent after three years and saw a payback of less than six months.
To quantify the value of Pluralsight, Forrester interviewed current enterprise customers across several industries and regions. With the information and data gathered during the interviews, Forrester created a composite company and analysis model, revealing the following quantified key benefits:
- Faster product development: Pluralsight fosters faster, better product development due to faster talent development—via upskilling and closing the technology skills gaps quickly. A conservative three-year present value (PV) estimate of this benefit sums to $11.3 million.
- Retaining employees: Pluralsight aids in retention by offering tech staff an enrichment opportunity not available elsewhere. If employees who might otherwise depart instead decide to stay, that can be worth more than several million dollars annually—nearly $6 million PV over three years.
- Faster onboarding of junior—and experienced—new hires: The time to get junior developers and experienced new hires ramped up and productive can be reduced from months to weeks. Over three years, the shorter learning curve is worth $1.8 million.
“The ROI of using Pluralsight to close their technology skills gap and develop better products faster is a major reason leading companies around the world rely on us. It’s no longer enough to arm technology teams with the skills they need today; CIOs and CTOs need to plan ahead and help their teams acquire the skills they need next, and Pluralsight empowers them to do just that,” Aaron Skonnard, Co-founder and CEO, Pluralsight said.