Introduction to Employee Training And Retention
Human resources are the most important asset for any organization. It is comparatively easier to procure other resources than to get and retain skilled employees.
That is why the difference between the success of any two competing organizations is the turnover of their employees.
A healthy employee turnover rate is essential for any organization to perform smoothly. An undesirable turnover where a firm loses an employee who’s a valuable resource because of his qualifications and performance can be upsetting for any employer.
In order to maintain a healthy employee turnover and help an organization save investment on training employees, retention of employees and their valued skills becomes highly necessary.
Employee retention refers to all those actions that stop talented employees from quitting their job; thereby reducing turnover.
According to a recent survey report, it was made clear that advancement opportunities increase the possibility of an employee remaining in their current job.
On the contrary, not being offered relevant training and skills pushes almost two-thirds of employees to quit their jobs. Let’s look at how training is invaluable when it comes to employee retention:
- Employee training and onboarding are expensive. It requires a great amount of time and effort. Hiring trainers or getting eLearning courses customized for each department of a company can be expensive. But training makes employees more confident about their skills and increases their chances of being a productive and valuable employee. It also encourages them to be committed to their jobs.
- As training makes an employee feel challenged to grow, they find their jobs more fulfilling. They value their work and are better suited to face the responsibilities that come with it. This also changes their opinion about their employers and makes them fulfill their expectations. Since it provides the potential for growth for an employee, it builds loyalty towards the organization. This leads them to stay longer with a company.
- Having a skilled workforce helps an organization achieve its targets without much trouble. Investing in the upskilling of employees to keep them at the top of their game proves to be worthwhile in the long run. Apart from increasing productivity levels, it minimizes the churn rate while increasing employee engagement levels.
- There is always a better job out there. But it’s important for employees to feel happy in their jobs and see it as a growth in career. By offering workplace learning opportunities, a company invests in the career and personal growth of an employee making them better suited for their jobs. It makes employees feel that their company values their contribution and wants to ensure they keep upskilling.
- It has been proven that the longer an employee stays with a company, the more productive they become over time. To reap these long term benefits it is essential to start retention right from the beginning. This means providing good L&D opportunities since the time an employee comes onboard. This way an employer can ensure that the employees are familiar with the growth prospects and are contributing to the company’s success.
- Candidates seeking jobs are more inclined towards companies that are known to invest in training for technical job-related skills. Investing in providing these skills becomes key to ensuring that employees don’t quit in the early months of their jobs. This also makes employees willingly learn the right skills, directly contributing to business growth.
- Corporate training encourages the learning of new technologies that are on par with the new industry standard. Training for soft skills makes them better at collaboration and communication, thus making them better team members. Department-specific training ensures furthering your employees’ development. All of these directly enhance the company’s overall performance.
- The new eLearning courses that companies provide nowadays are very different from the traditional training sessions which were provided in the form of long seminars. They provide learning in small modules making it easier to learn in breaks and complete training faster. This micro-learning saves an employee’s valuable time and they can continue learning without compromising on work.
- Investing in employees to equip them with the knowledge they need to advance in the career has a big return on investment for the company. Investing in employees to equip them with the knowledge they need to advance in their career has a big return on investment for the company. Having the right skills allows them to contribute fully to the company, thus leading to the company’s growth. The absence of the required skills drains the organization’s resources as employees fail to deliver optimum performance.
- Companies that provide skilled training gain a reputation for being highly advanced and promoting a knowledgeable culture. This, in turn, ensures attracting candidates who want to learn and better themselves consistently. Such candidates prove to be highly valuable employees for a company in the long term picture. A company’s commitment to learning and development ensures employees feel safer about committing more to their work.
- It is important for an organization to be learning-focused by not just providing occasional training workshops. Instead, learning through training should be made a constantly ongoing process integrated in the normal workflow. This will help employees to learn quickly and bounce back faster when they encounter any issues. It will also help them to assist each other better when someone in their team hits a roadblock.
It goes without saying that companies must invest in their employees by making them feel an important part of the whole organization.
It will lead to saving a lot of expenses that come with repeatedly hiring new employees. In fact, it is important to repeatedly communicate about the learning opportunities that come with the job when hiring and onboarding employees.
Additionally, it should clearly be communicated to them that the company invests in providing the required training to further enhance their skill set.
At the same time, be open to feedback from existing employees about changes that are required in the current training processes to ensure that your efforts bring optimum results – for both the company and the employees.
Riya’s editorial focus blends employee training and creative strategy with topics like employee performance management system, kaizen training, total productive maintenance lean manufacturing.