Train Them or Lose Them

Our team receives many reach outs from candidates who are looking for a different career opportunity because they are not happy with their current employer. As we dig deeper, it often boils down to their dissatisfaction with the training and development they are receiving, and often, it is nonexistent. They are looking for a company that they can grow with, and one who invests in their people and their progression by providing better than average employee training and development. 

Did you know, that a variety of independent studies reported that in 2022, 50% of employees are considering leaving their company due to the lack of training?

What is the importance of employee training and development?

Training is crucial as it represents an opportunity for employees to grow their knowledge as it improves their ability to become more effective and to grow with the company. Despite the cost of training , the return on investment is immense if it is consistent. What is does in the way of ROI:

• Improves skills and knowledge.
• Creates faster ramp up time.
• Results in higher job satisfaction, and therefore improves moral.
• Builds better customer satisfaction and loyalty.
• Satisfies the desire for performance reviews.
• Prepares employees for higher responsibilities and growth within the company, which in turn, increases productivity and performance.
• Illustrates to employees that they are valued and productive members of the organization.
• Results in lower employee turnover, which is highly costly to a company in more ways that just monetary.
• Improves the company’s reputation and culture.

All of the above translates in to the ability to hire top talent and to retrain them.

Most business leaders agree that upskilling is essential to business success. Companies that invest in upskilling are the ones most likely to develop new and innovative ways of working. But when should you do it? What’s the most effective approach? Which skills will be the most valuable to your organization? Professionals have identified three key focus areas that can help organizations gain the most benefits of upskilling. Discover what it takes to help your employees do their jobs effectively, creatively and with deeper satisfaction.

According to a published survey report by PwC Talent Trends, there are three keys to unlocking your employees’ true potential:

1. Measure the skills gap by assessing where you are - Successful upskilling starts with a thorough analysis that identifies which skills employees lack.

2. Provide the right training at the right time - Digital skills curriculum should be innovative and adaptable.

3. Enable employees to put new skills in action - Just as upskilling should allow employees to put their skills to work, training curricula should be interactive, with hands-on practice and do-it-yourself activities that allow people to try new skills in real time along the way.

Okay, I see the ROI, so how do I start?

 

1. Create or improve your Onboarding Process – In essentially every candidate interview that we conduct, they ask about the company’s onboarding program. If it is not an organized process, the candidate will often withdraw their interest in pursuing the position.

2. Invest in Cross Training – this enables employees to work in several different roles that may be closely related. This not only promotes career development, but helps employees to better understand their peer’s roles, resulting in a collaborative team who works together with a genuine understanding of one another’s asks and needs.

3. Consider using Outside Professional Training – Ask around for referrals and consider using a company that specializes in professional training as their core focus. They could at least get you set up with a plan that you could then continue use on your own.

4. There are numerous online training programs – Research the one that seems to best fit with your company and what your issues are.

5. Forbes has provid an article “12 Ways to Implement Successful Employee Training Initiatives” .

Even if you feel that you have an adequate training program, ask your employees how they feel about it and ask what recommendations they have to improve it. My recommendation is to have it be continuing and consistent, not just when an employee starts, especially in the development piece. 

 You WILL get a Return on Investment and your employees won’t be calling our team to help them find another position.