What do you think should be the major goal of companies in any particular industry? Well, it’s none other than the employee retention because not only is top-notch talent hard to find in general, but it also costs substantial money to recruit, hire, and retrain new employees onboard. And one of the most significant things an employer can do to retain its employee is to provide them with employee retention training and development. So if you think that providing training has to be an expensive and a planned event, you must think again!
Employee Retention Training: Key to Developing your Employees
Traditional classroom or seminar types of training and development are the mo0st common ones and the need of the hour is to get creative in developing your employees. This might make them stick around for a while, which can eventually enhance your company’s profitability, ensure long-lasting relationships with clients and last but not the least, happier employees!
According to 2018 Pulse of Talent Survey of 2000 North American employees, around 37% of employees are casually or actively looking for a new job, and 36% who are not looking would consider a new position if they get an opportunity. So the only answer to retain such employees is better employee retention training and succession planning. Organizations that are not providing opportunities for growth are missing out on a feasibly cost-effective means of retaining A-talent. So what’s the best solution possible?
If your business organization is on the line about the crucial role talent evolution in employee engagement and retention, this webcast has come up with following justifications to help inspire them about employee retention training and development:
- Employees are likely to Stay when Valued and Appreciated
There are many business organizations that hang back to invest time and money in employee retention training because they feel vulnerable that they will spend their resources on employees only to see them put in their notice anyway. But many researches have shown that time and retention training for employees can help enhance the retention rates. What do employees need today? Well, it is way beyond just punching on time and collecting a paycheck. It is important for them to feel appreciated within the organization, and also they need to feel challenged in order to strive for achieving the best. And with work-life balance hanging by a thread, it is crucial for employees to find personal satisfaction in their jobs.
- Preparing Employees with the Requisite Skills they need to Grow in their Careers
While there will always be brighter opportunities and higher paychecks out there in the market, employees who stick to their current organization to shape their career and simply not just being a 9-5 geek will be more likely be around by giving their best at work. Providing robust employee retention training and growth opportunities, a company can show their employees that they invested in the career and growth of their employees.
- Investing Time and Money in Employee’s Skill Set augments their value to your Company
Are you aware of the woman in Lipham’s story? Well just like the latter, the bottom line states that if employees do not possess the skills they require, or if they are not aware of the rules of the game, they fail to contribute to their full potential. And that is considered as a drain on both the morale of employees and the organization’s resources. Therefore, the best way round is to be sure that employees are well-apprised of the know-how they require to succeed at their workplace.