As businesses continue to struggle in 2020 and look ahead to 2021, some serious reflection is necessary for success in the future. One thing you absolutely need to think about is how your organization is prioritizing employee engagement. If you aren’t, you need to be!
Having an engaged workforce will be your key to higher profits and productivity; employee disengagement results in the loss of 34% of the disengaged employee’s annual salary, according to Forbes. Is that a loss your business can afford?
The good news is that the key to improving employee engagement is something that will give your business a boost at the same time: training. Here are four reasons how your business can make sure training is a priority in 2020 and 2021.
Retention is Everything
Every leader wants their employees to give their all to every project, but that expectation isn’t realistic when it’s not being reciprocated. Are you helping your employees develop the skills and training they need to advance in their careers? Do they know you’re invested in their personal success, not just what they can do for the company?
These are questions you need to answer ASAP. 40 percent of employees who receive poor job training leave their positions within the first year, shares GotoHr.com. That kind of turnout is detrimental to your team’s long term success— the cost of onboarding and the first 90 days alone is more than enough reason for you to need to step it up.
Get the Most Out of Onboarding
Make sure your onboarding process is airtight, and implement continued product and industry training into your team’s day-to-day responsibilities. Consider cross-training and developing opportunities for others to learn from different departments. (More on this later!)
One of the best ways to set yourself up for success when training new employees is to implement a benchmarking process when hiring. This process allows you to understand the core functions and needs of an individual, and will allow you to tailor their position and training to those needs for optimal effectiveness.
If you build training naturally into a job’s position, it will feel less like a chore and simply like an opportunity to expand on skills and learn new ones.
Invest In Your People
The TTI Success Insights slogan is ‘People First’. It’s our mission and our mentality, and it has to start with us. That’s why we offer in-depth training in all our sciences as well as opportunities for continuous learning.
70% of workers are at least somewhat likely to leave their current job to take a role with an organization known to invest in employee development and learning, according to the Harris Poll. That same poll also reveals that among employees who left their previous job, 34% did so to find a role with more career development opportunities.
You can become an attractor company if you put people first, period. The best talent won’t settle for less.
We recently sent a few of our trainers to a half-week long leadership conference that the company paid for. Those team members returned with new skills to give value back into the company, and felt understood and supported in their development. It’s a win win!
Provide Opportunities for Continuous Learning
Making training a priority is your first step, but what about learning for the sake of learning? Top talent is looking for opportunities to cross-train and expand their own understanding of their industries; are those opportunities available in your organization?
The good news is that this can benefit you as much as it benefits your team. By cross training and developing different employees, you can develop your talent pipeline internally.
“The risk [of hiring the wrong person] obviously increases for your organization when you hire for leadership positions,” says Jaime Faulkner, TTI SI’s content manager. “A poorly selected leader can derail productivity and company culture. So why not reward a current employee and develop them into a more senior role? This improved employee engagement helps the bottom line.”
Prioritize Training and Thrive
As you can see, the benefits to implementing a comprehensive training program are immense for your organization. By creating a solid foundation, you will attract top talent, develop your current team, increase employee engagement, and boost productivity.