Training ‘Good For Talent Retention’
Offering your staff training not only helps your business by ensuring your staff are kept up to date with the latest regulations, techniques and systems, but it shows your personnel that you value them and wish to develop them and their careers.
Putting personal development training courses in place for your staff, no matter where they fall in the scheme of your operations, yields good results on the whole and is one of the top recommendations from Leadership Thoughts on how to retain talent at your company.
When considering training for your staff, as an employer you can relate to why they need training by considering why individuals are likely to leave. Maybe they feel underappreciated and that their skills and contributions are not being recognised? Maybe they are not being adequately remunerated or have not had a pay rise in some time. Or maybe there is a lack of opportunity for them to advance within the business?
Offering training addresses all of these, and prepares your employees to climb the ladder internally.
Training, Leadership Thoughts recommends, could be a part of a two-pronged approach to staff retention, involving training and development on the one hand, as well as providing staff with incentives that increase their loyalty to your business.
Compensation and benefits packages befitting an employee’s experience and level of skill is a good foundation for loyalty, while providing remuneration that is in-line with their market value takes this one step further. Finally, a competitive benefits package that includes perks such as discounted gym membership and generous holiday entitlement is a top shelf scheme to demonstrate employee value.
But what about systems that need not cost the company much to implement that will also help to improve staff retention? Recognising employee contributions with rewards programmes for high performers, as well as a transparent approach to goal and result-sharing fosters a sense of openness and trust in an organisation.
Moreover, encouraging a good work-life balance in-line with modern expectations for flexible working and working from home instills trust and improves worker satisfaction. Supported by a realistic stance on workload management and individual performance, flexible and remote working should not impact efficiency.
Bringing in training for your staff is also a massive advantage for you business’s future leadership.
An article for Forbes recently investigated the relationship between successful leadership and training with studies showing that 87 per cent of people in managerial roles wish they had had more management training when they first stepped into their roles.
CEO David Novak from oGoLead was quoted by the news outlet as saying: “You can’t achieve anything big in life if you try to do it alone, you need to take people with you”. So passing on the baton from leader to successor is essential for continuity and confidence.
Management positions are too often handed to individuals based on their experience in a particular role and their time served at a company, but the ability to manage is a new skill set entirely for those who have previously been part of a team or who have worked autonomously.