In some cases yes and in some cases no.
In your case for example, that overclock would net your a 5% increase in processing power and would probably not be noticeable in day to day operations or gaming. This is partially due to skylake being a very new process and having the best ipc available atm.
However in my case were I am running a sandy bridge 2500k running at 4.2 ghz, this is roughly a 20% overclock. This allows my chip which is 5 years old to compete pretty directly with new cpu's released on the market in terms of day to day performance as well as most games.