This study uses the newly published data from the fourth round of the European company survey (ECS 2019) to examine key drivers and consequences of workplace learning. It shows that EU companies have several distinct workplace learning environments that differ greatly in their conduciveness to workplace learning. Findings also show that managers’ perceptions of the value of workplace learning and the level of skill demand are some of the key determinants of the scope of learning opportunities. Workplace learning is found to be the most important predictor of employee wellbeing and one of the strongest correlates of company performance. Results also show that most EU companies are still not offering optimal learning environments and opportunities to their workers, a situation that hurts both employees and companies.