A Great Strategy For Keeping Your Best Employees
How many managers are providing the right resources to keep their employees satisfied with their career paths, goals and accomplishments? How many are giving the correct guidance to their employees? This year, 2022 has set a historic record of people who quit their jobs. Because people were not receiving what they believe they deserve (https://www.cnbc.com/2022/05/03/job-openings-and-the-number-of-people-quitting-hit-record-highs.html). Employees nowadays are not looking so much into just the insurance and wages; they are looking at everything as a whole. They are looking for the opportunities the employer has to offer them as well. The interviewee is not the only one who needs to sell themselves; it is also the employer showing what they can provide for the employee.
There are many advantages and practices employers can explore to create a productive and healthy work environment, such as taking personal interest in the employee’s career goals and aspiration and showing interest in your employee’s growth within their position and future goals. This allows your employees to recognize the importance of the job they are doing for the company. This gives them confidence in their achievements and the acknowledgement that they are capable of doing the work, making them less stressed at work and decreases your turnover.
Another advantage of taking interest in your employees is the higher probability of an employee staying longer. Jen Dewar wrote that employees are 2.8 times more likely to be engaged and productive if their manager had conversations with them about their career and personal growth (https://www.workramp.com/blog/support-employee-career-growth/). The Kin Team wrote that employees want a development of their skills, an increase of talent and a sense of self-actualization; employees want to know that they have potential (https://kinhr.com/using-career-development-to-increase-employee-engagement). Employees will support and stay engaged at work as long as they feel supported and appreciated by their employer.
Creating career development plans and encouraging higher education with employees gives them the fulfillment that their talents are recognized. This allows employees to visualize their future within your company. Helping employees create a staircase to their goals will allow managers to craft the correct assignments, position or tools for them to increase their job skills. Training Programs are part of this staircase that will not only increase employee’s skills for the future but also increases their performance within the company. The right training program gives these tools and assignments that your employee needs.
“Using Career Development to Increase Employee Engagement” reports that it takes about $15K-$20K to replace an employee. On top of that it takes about 3-7 weeks to have the employee efficiently working on projects after hire. Instead of having employees leave due to lack of engagement and career development, this funding resources should be applied to provide career training and development and at the same time improve the company’s productivity and loyalty. They also report that out of the employers surveyed 28% shared that investing in their employees’ careers through training and professional development was the most effective way to keep them engaged and motivated. Jen Dewar writes that 94 percent of workers said they would have stayed with their company longer if the employer had invested more time into their careers (https://www.workramp.com/blog/support-employee-career-growth/).
Do you feel your company lack the time, resources or funding to invest in training your employees? That is where Invista Performance Solutions can help with a Customized Training Program fund (CTP). IPS will work with you to analyze your company’s needs and provide a customized training plan for your company and your employees. We invite you to click on the link and learn more about CTP programs.