It cannot prevent mistakes or correct them before anyone feels the impact. On the other hand, workers can depersonalize situations they can't control. Keeping up morale is far easier for people who have mastered every aspect of their jobs and then some. Learning to understand the jobs around, below, and above you provides a measure of comfort. Knowing trends in your industry and related fields brings confidence.
Personal development makes employees more valuable to employers.
Continuing education is the key to removing the misery from uncertainty and the fear from change. Go beyond knowing your job. Know your worth and you will always have high morale.