Most management retention surveys will tell you that employee development ranks very high on the reason your employees stay with you year to year, and that compensation is actually near the bottom of the list. While every company pays their employees to work, not every company provides training development.
Why Don’t You Train Your Employees?
I made a friend this past week by asking this question. Not really a friend at first since he was beyond ticked off that I had the audacity to ask the question, but eventually he warmed up to understanding the value he was missing by not providing his employees with professional development. Let’s say we parted as friends.
You see this company has a great reputation, and very good employee reviews on sites like Glassdoor.com, and if they were only looking at training as a retention tool, I can see why it was never prioritized very high. Yet, when I discovered that most of their recruiting efforts required HR to go outside the company, I realized it was because they were not building competencies in-house.
There was also zero succession plans on the books for any position in this company of 150+ employees and they continued plans to grow would be hampered if they continually need to source external applicants.
You may wonder why your company trains management and leadership competencies. If subject matter experts are trained in management communications they can assume supervisory and manager roles in their units. If you don’t train these skills then you are hard pressed to promote people. You have to go outside.
Yet the same goes for skills to perform another person’s job. If you can train an existing employee to do another job, you retain an employee that already knows your culture and how to get things done. They “hit the ground running” better than an external hire.
If you currently don’t train your employees beyond the required compliance topics for your industry, then let’s talk for 30 minutes. The call is free, and I guarantee there are benefits to training that you are not using to your advantage. Email me at email@example.com to set up a time to talk.