Worker Illiteracy Hurts U.S. Profits

An overwhelming majority of U.S. corporate leaders agree that worker illiteracy is hurting productivity and profits, but they are divided on what to do about it, according to a survey conducted by Opinion Research Corp.

The survey, funded by Coors Brewing Co., found that 90 percent of chief executives at Fortune 1000 companies identified illiteracy as a workplace problem. But only about a fifth of the companies surveyed have instituted in-house literacy programs to deal with the issue.

Peter Coors, chief executive of the Colorado-based brewer, said he believes some executives may not be taking action because they are unaware of their own companies’ illiteracy problems.

“Employees with low literacy levels do a good job of hiding it,” Coors said in a statement. “They are often embarrassed or uncomfortable seeking help from anyone, particularly their employers.”