Your employees want opportunities to grow in their careers, and if they don’t feel they can move up at your company, they’ll move on. Thirty-seven percent of workers are looking for another position, many of them young professionals feeling restless in their current jobs.
How can you stop top talent from walking out the door? Get serious about employee training.
Employees starting out in companies with strong onboarding programs are 69 percent more likely to stay in their positions for three or more years. Onboarding should help new hires get comfortable with the rules, regulations and culture of your business and prepare them for the tasks required to perform well in their jobs. Good onboarding practices boost productivity, which can increase both employee satisfaction and your company’s bottom line.
If your company always hires from the outside to fill higher positions, it’s time to re-think your strategy. According to the 2018 Pulse of Talent report from Ceridian, 32 percent of employees feel they need to go elsewhere for career advancement opportunities. Establishing a framework for succession planning, including training in skills needed for upcoming in-house job openings, shows you’re willing to invest in the professional development of your employees and care about their future success.
All employees should be encouraged to put continual work into improving their skills. Make sure each person, from the newest hire to the most seasoned executive, has ongoing opportunities to learn and grow. When those in higher positions are better equipped to do their jobs, it benefits everyone they oversee and helps the company run smoothly.
Adding mentoring to training at the management level leads to a 64 percent greater increase in productivity than training alone. Apply this principle to all positions in your company to see the best results. As new hires come in, pair them with seasoned workers who can show them the ins and outs of their roles in practical settings. Employees ready to advance to higher positions can benefit from shadowing someone familiar with the role before making an official transition.
Training is only beneficial if employees get the chance to use what they learn. Include practical application in your training programs, and create opportunities for knowledge to be put into action as soon as possible. Giving staff members a measure of autonomy in their professional growth builds trust and fosters a strong sense of responsibility. Maintain communication with your employees to see how they’re doing, and establish an environment where continual education is encouraged.
These practices are never a waste of time when you consider 83 percent of workers cite training as a factor in job happiness and 51 percent say they’re likely to leave a position where no training is offered. For better retention and a greater degree of job satisfaction, make training an integral part of the employee experience at your company.
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If you are looking for a coworking space, contact CEO Centers FLEX. We offer several membership levels that all include high-speed internet, access to the kitchen and lounge with a free coffee and tea bar, use of our business center and concierge services. Contact us today to learn more about the FLEX community.