The Importance of Training for Employee Retention

As a manager or team leader, making sure your employees are happy and fulfilled is just one of the many tasks you need to keep track of, and it might be among the most complex.   

There’s only so much you can do about wages, schedules and company-offered benefits, all things that can help keep your best talent under your roof.   

But research is finding that employees who might be thinking about leaving could be enticed to stay not only by a bigger salary, but by opportunities to grow and learn new skills.   

If an employee is looking at a job change because they feel they’ve tapped out on what they can learn at your firm, would it make sense to find a way to offer training and development courses to retain top talent?   

A few things to keep in mind when it comes to investing in your employees

  • Investment isn’t always about salary. Your employees want to know they matter and are valued, both as part of a team and as individuals. A pay bump is nice, but ultimately, it might fall short of keeping your best and brightest in their jobs. Particularly, younger workers want to grow and learn and keep their skills at the top of their game. Offering mentorship opportunities and encouraging them to take classes or attend professional development workshops benefits not only the company but the employee.   
  • Investment in employees can foster loyalty. We all had the coach or mentor who believed in us, encouraged us and pushed us harder to be a better person and a better leader. Companies that make that same kind of positive investment of time and resources into employees demonstrate that your team is valued, and you want to keep them happy. Happier workers are less inclined to be lured away by offers from other firms, especially if they know their departure would be acknowledged as a loss for their team.   
  • Training might seem expensive, but it can pay incredible dividends. Think of how different technology was just five years ago. The world is an entirely different place today. To stay competitive, your company needs to be on top of technological changes. Training your employees to know all the latest tools and tricks will make them better equipped to do their jobs and stay ahead of the competition while working harder for the company’s benefit.   
  • Show that everyone is involved. Get your managers involved in training employees, from finding out which courses would be the most valuable to having them take the same instruction to encourage them to learn new skills outside their routine. If everyone is learning, everyone is growing together. Showing employees that there’s always room for growth and development, from the top down. This helps foster a team mentality as well.   
  • Focus on the future. Not just the future of the company, but the future of your employees. They were hired for their talent and experience, but also their potential. Help them reach it while employed at your firm, and there’s no telling how far they’ll take it in terms of helping to expand your company’s reach, increase your client lists and grow the bottom line.  

The greatest return on your investment in your employees is their understanding of being valued and respected. A worker who feels like more than just a seat-filler will work harder, feel more loyal and grateful and is more likely to repay that investment in dedication and an increased effort toward making the company successful.   

For more about how to invest in your employees and why it can help your firm, contact IFG Global today. We’ve got a team of experts who can help find the best courses to keep moving your team forward. Contact us and let us find the right investment plan for you.