New statistics show that a lack of training is one of the top reasons employees leave their jobs. Because of this, it’s important to integrate growth and learning into your organization’s culture to engage employees and increase retention.
The cost of seeking out and training new employees can eat away at an organization’s bottom line in a big way. Money, productivity and resources go out the window every time a new hire must be found to replace an exiting employee.
This is why a new statistic showing that one out of every four employees will leave because of a feeling that training is lacking is a startling one. These employees decide to step down from their positions and seek new employment simply because they feel they don’t have the tools to succeed at their jobs and grow in their roles.
The shame is that employers will end up losing experienced employees simply because of a lack of growth potential. Is letting them leave the only option? A smarter approach is to focus on creating better retention levels among employees. A company with a high employee retention rate enjoys the unique benefits of having engaged employees and a qualified pool of outside talent waiting to join in.
Are you curious about what can be done to boost retention rates? Below are some essential tips for creating the type of organization employees want to remain a part of.
Career advisement isn’t just for college students trying to figure out their majors. Even seasoned employees need some guidance when it comes to planning for future success. A review at the end of the year is no substitute for ongoing career advisement.
Offering guidance doesn’t have to be a complicated, time-consuming pursuit. To effectively advise workers you must identify their strong points, goals and abilities. This knowledge can be used to help them thrive in their roles.
Employees need to be aware of their career path within your organization if you expect them to stay the course with your organization. One of the best things you can do is help each employee develop a career map. A career map clearly lays out the possibilities that exist for an employee within an organization. This map will help every member of your organization understand how to make lateral moves and how to climb the ladder to get a promotion or reach a new position. Of course, the map will look drastically different for every employee.
Create a Learning Initiative
A training initiative is essential to remain competitive. Workers who leave because of a lack of training typically go to companies that provide education and training. They take with them the knowledge, skills and contacts they made while at your organization.
Putting a training initiative in place will encourage your employees to grow in their current roles instead of seeking out opportunities with other organizations.
What does a training initiative look like? It consists of internal and external programs and paths for attaining the degrees and/or credentials that make your employees feel better in their job roles. It is important to offer versatile options because every employee comes from a different background. Some workers seek advanced degrees that will position them for management roles. Others are want to complete degrees that were never finished because of personal or professional reasons. Programs that offer credits for experience and prior learning can make it easy for working professionals to attain degrees in less time.
Beth Doyle is Interim VP, LearningCounts, for CAEL.