Employee training is one of the best practices to keep your current employees engaged and attract good candidates in today’s tight labor market. It ensures you see good candidates and your employees will be highly productive, engaged, and remain with your business for many years.
How Does Training Increase Employee Retention?
If you're unsure of the link between training, employee hiring and retention, here are some statistics that will prove this connection:
- Employee turnover is 50 percent more likely in businesses that have ineffective onboarding processes,
- Companies with strong cultures of learning have 30-50 percent higher retention rates and are favored by job seekers, and
- 70 percent of employees would likely leave their current jobs if it meant moving to a business that invests in employee development and training.
But what are the reasons for this?
Better Employee Engagement
Only about 19 percent of employees feel actively engaged while at work. Since engaged people perform 44 percent better than their disengaged counterparts, this is a serious issue that affects the majority of companies across the U.S.
Appropriately training employees lets them make the most of their time in the office. They will no longer be frustrated trying to learn user-unfriendly programs on their own – they will have been trained by experts.
Employee Desire for Career Development
One of the main reasons that employees leave their jobs is that they feel that the job isn't developing any skills for them. They feel like they're at a dead end and remaining is a poor long-term career choice.
Providing quality training makes employees feel as though they're getting something out of their current position. They will become more knowledgeable in their field and will understand that this knowledge can be used in future positions.
New employees are looking to see what skills and education they will get from you so they become more skilled and can move up the ranks.
The Top Employee Training Strategies of 2021
First, you'll need to research best practices in employee training. What are the best training tools within your industry? Does research show that a specific teaching method works best for employees? What skills are workers looking for? What skills are in demand in your industry?
Use this research to implement the best possible slate of skill-building courses.
Provide feedback on employees’ training performance. This will let them know which skills they need to improve on and encourage them to study further. They will then know what to improve so that they can be more productive at work – and have the tools required for achieving these goals.
Reap the Benefits of Staff Training Best Practices
Now that you know how employee training can boost staff retention rates, it's time to get started.
Get a jump on your competition and start improving your bottom line right now.
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