Amidst the Great Resignation, we’re all questioning – what makes people leave their jobs? Industry insiders speculate that a range of reasons will trigger people to quit – from poor management to lack of flexible working, low salaries to better prospects at other companies. But the research has shown that, above all else, employees want training! And if they are not getting it in their current role, they will look elsewhere!
The office for national statistics has just uncovered that the number of job vacancies in February to April 2022 rose to a new record of nearly 1,295,000, an increase of 33,700 from the previous quarter. Whilst this may signify a country that is rebuilding after the effects of the pandemic, it also suggests that people are continuing to leave their jobs at record rates. Companies are failing to retain employees, but also to recruit them, and the economy is at threat.
In order to address the issue, we must better understand the root causes. Extensive studies have been carried out by the likes of Gallup, Amazon, and LinkedIn, and they conclude that the number one reason people change jobs is for career growth opportunities.
A Gallup study looking into the reasons workers give their employers for quitting found that 57% of employees want to update their skills, and 48% would consider switching jobs to do it.
The poll also uncovered that:
Data from LinkedIn also reflects this with 94% of employees stating that they would stay at a company that invests in their growth. Similar findings were also echoed in a survey of UK managers who have recently quit their job, where a whopping 72% stated that adequate training and support could have persuaded them to stay!
The data all points towards a workforce that wants training and isn’t getting it. This training crisis is causing huge problems in recruitment and retention and in turn threatening economies. The people have spoken, and they want growth opportunities! So how do you give employees what they really want?
First up, it’s worth knowing that there is a wealth of professional training opportunities out there. You need not commit to steep tuition fees for each employee. In fact, done well, training can be as simple as supporting your employees’ growth through mentoring.
Leadership support, particularly on a one-to-one basis, will demonstrate the company’s commitment to their employees. It builds greater loyalty and may even open up a conversation about the employees’ long-term career goals. From here, you can take a tailored approach and identify professional development training that suits the individual.
Courses such as those offered here at ILX are ideal. They are affordable, tailorable, and delivered in a range of formats to suit the learner. Browse our full range of courses hereor talk to a member of our knowledgeable team to gain personalised recommendations.
Companies with flatter hierarchical structures can utilise training to retain employees where promotion isn’t a viable option, (particularly true of SMEs). Professional training programs will demonstrate that workers are valued, and that the company cares about their success and skill progression.
Training makes employees feel invested in and, as a result, can improve rates of retention. Offering training can go a long way to securing new talents too. It can be used to fill skills gaps, where recruitment of new employees would be far more costly. It really is win-win for both the organisation and the staff.
Finally, companies who offer training programs also gain a competitive edge, attracting workers with progression and development high on their job wishlist. In a fierce job market, it could be the reason a candidate chooses a position in your organisation over the opposition.