Between a recent increase in quiet quitting, Covid-19’s effect on hybrid job opportunities, and the potential for a recession, companies are experiencing a common trend: finding and keeping talent is harder than ever.  

This is why it’s important for C-level executives to intentionally encourage employee retention. Retention has been proven to positively impact a company’s fiscal health and bottom line. Maintaining staff satisfaction also encourages a growth mindset in employees, leading to their pursuit of higher-level roles and added responsibilities. 

Read on for three reasons to invest in training opportunities for your staff, especially in today’s tight labor market. You’ll want to write these down! 

With fewer people on staff, companies need to run more efficiently.  

Training opportunities for employees increase individual productivity. This creates a snowball effect within departments. As each individual becomes more productive and efficient, they have more time to dedicate to other tasks. And as your departments become more efficient, they’re able to tackle bigger-picture items which may add to their job satisfaction.  

When companies suddenly find themselves short-staffed, these efficiencies become crucial for rapidly adapting to changing market conditions. 

Developing your staff communicates that you value them, which drives job satisfaction and cuts back on the efficiency losses of “quiet quitting.”  

Research conducted by Deloitte and MIT Sloan Management Review shows that employees are up to 15 times more likely to want to leave an organization within a year if they don’t receive opportunities to develop. 

You’ve likely heard the term “quiet quitting.” This term refers to an employee who has reduced their work scope and output due to decreased job satisfaction. This dissatisfaction can stem from their perceived lack of opportunities for advancement, insufficient benefits or pay, inflexibility in their role, and/or discontentment with company culture. Not an ideal situation for any business, right? 

By increasing opportunities for training, you’ll show employees that you care about their career development and that you’re dedicated to ensuring their success and job satisfaction. 

When people are trained on productivity best practices and technology, they will have more time in their day to increase profits. 

Imagine stepping into the cockpit of an airplane for the first time and being told to fly it with no training. You’d fumble around for a long while and, more than likely, you wouldn’t even get the wheels up.  

Rather than expecting your employees to fly without providing proper guidance, investing in tool and productivity trainings will allow them to tackle the simpler tasks more easily and efficiently. Regularly providing opportunities for training will allow your employees to stay up-to-date on any technological advancements and current best practices for productivity. This will free up their time to increase company profits through sales, while also enhancing overall employee satisfaction. 

This quote from Deloitte sums it up nicely:  

“First and foremost, to create organizations that adapt easily and quickly to continuous change, technology leaders have an obligation not only to lead Agile development initiatives but to be the catalyst for enterprise agility. To do so, they should attract and retain talent and shape employee skill sets. With the half-life of skill at about six years, reskilling and retraining can be key, and learning, collaboration, and training become pivotal.”  

(Source Deloitte 2020 Global Technology Leader Study) 

 Looking for more ways you can increase employee engagement and retention in today’s market? We Coach, Consult, and Train people to optimize their time, talent, and technology.