One of the keys to a successful business is retaining top talent that you’ve trained and help developed over the months and years. You may think your current employee retention strategies, including onboarding, are beneficial for the employee, but recent research shows the exact opposite. One third of new hires quit their jobs after about six months, and one third of employees knew whether they would stay with their company long-term after their first week.
Furthermore, this retention not only affects a business’s bottom line, but other team and organizational dynamics, including career development training programs that happens during and after onboarding. It’s important for organizations to look into their current training programs and see what immediate and long-term changes need to be made so overall employee retention doesn’t suffer.
Below are five benefits of career development training programs and their influence on employee retention.
Career training programs help set the scene for future company retention goals
Having an interactive training program that collects and uses data analysis can help organizations see the success rate and where improvements can be made. For instance, if one training program is lacking overall employee engagement or the skills developed are not translating well for on-the-job tasks, consider implementing video and/or rich media into your program. These tactics can help motivate and make the overall training more meaningful and memorable for the employee—which directly impacts important factors, such as onboarding and company culture. Training program analysis is a great first step to see where your employee retention is at and what goals can be set.
Another great data analysis tool that can help set retention goals is HR software. As a management tool, from payroll to communication channels and training, HR software can help organizations set realistic goals when it comes to improving retention. In addition, these programs can help HR better manage its people and pinpoint the best potential for development and training.
Career training allows for flexibility and personalization
Career development training that uses tactics such as flexibility and personalization can open the doors for better motivation and engagement tactics. When organizations take the time to sit down and learn what areas the employee wants to develop, the better they can create effective training development programs. It also shows the employee their value to the organization when the effort is made to create the best learning environment for them.
Increase engagement and accountability
Implementing successful career development training can also encourage employees to take charge of their own career development. Creating employee accountability can boost a different kind of employee engagement by creating a better sense of loyalty to the company, as well as help employees discover on their own what skillsets they want in order to thrive in the organization and in their career overall.
Gives value and meaning to job positions
When done right, career development training is a great way to give meaning and value to employees and their current day-to-day tasks. Furthermore, this career development can give employees the right amount of confidence in their learning and overall strengths.
In addition, career development training can help employees become valued resources for other employees. When the skillset is developed, then these employees can be mentors to others in the office, which is another positive aspect to employee engagement, as well as the company culture overall. When career development training leads to better inclusion within the organization, the less likely employees are to leave.
Grow internal leaders
Lastly, career development training is a great way for organizations to grow their own leadership, and thus retain top talent. Organizations need to be in the habit to promote from within when the situation arises. Give your top talent a reason or incentive to stay by investing in training strategies that develop leadership skillsets.
All and all, as an organization, work with your current employees to see what their goals are within the company and in their career overall. Make career development training flexible, engaging and personal to your top talent in order to create meaning to the job and better loyalty. At the end of the day, employees will notice when they are treated properly and appreciated.