Informal learning in the workplace: Identifying contextual factors affecting employee's ability to engage in informal learning in the nonprofit financial services industry

In today's business economy the skills required by both the employee and organization cannot be effectively learned through only formal settings. Instead, informal activities need to be developed and enhanced. The primary goal of this study is to describe empirically and qualitatively the types of informal learning occurring within a nonprofit financial services organization, and those factors employees encounter that affect their ability to engage in informal learning. According to the 1996 U.S. Department of Labor's Bureau of Labor Statistics report, as much as 70% of all workplace learning may be informal. This indicates that informal workplace learning is critical to a company's overall effectiveness and its ability to compete. However, many of today's companies continue to focus on the use of formal training methods to educate their workforce. Relying strictly on this method often results in a slow development of the workforce while missing much of the learning that transpires.