The numbers below are according to LinkedIn’s 2021 Workplace Report. It’s clear to see that learning and development is becoming a top priority, not only for L&D managers, but also the latest generation to enter the workforce.
Developing professionally has never been and will never be limited to those just starting with an organization. There’s always room for senior executives and business owners to broaden their knowledge too. This creates a much more mobile workforce – everyone wins!
For an overall effective learning and development program, organizations must make sure they enable employees at all levels to either learn, reskill or upskill. Here’s why.
If you’re having to hold regular recruitment drives in your organization, it’s probably time to ask yourself why. And be prepared for the harsh truths.
High staff turnover can be attributed to a number of factors. These can include poor company culture, inconsistent management, poor work-life balance and lack of development opportunities (to name a few!) A common theme here: an internal problem as opposed to an individual candidate problem.
If you can implement a high-quality learning and development program into your business, you can kill two birds with one stone. Providing learning opportunities that narrow the skills gap for your employees will increase your chances of team members staying with your company1.
To avoid a constant stream of recruitment, think about the people you already have in your team. Could they be the person you need for the role you’re hiring for? Given the opportunity and the resources, could they learn the vital skills and gain the experience required?
When you upskill the people in your business, they can progress, meaning less expensive external recruitment drives. If employees know that there are opportunities for progression, they’ll continue to be motivated to take on ongoing learning.
Internal costs + external costs
Total number of hires required = Cost per hire (CPH)
If and when the time comes that you’re ready to begin a recruitment drive, you want to make sure your search is as efficient as possible.
As we talked about earlier, growth and learning are increasingly important considerations for generation Z entering today’s workforce. Simply getting a paycheck at the end of the month isn’t enough anymore. While people want to provide value to their employer, they also want to know they’re getting value in return. For many candidates, this value looks like an equal work-life balance or chances to progress and develop their key areas of interest in their professional lives.
At Attensi, we work with organizations that believe in the value of learning and development. Our gamified simulations provide a varied and practical approach for participants to develop their skills in a risk-free environment.
To talk to us about creating a valuable learning and development offering in your organization, speak to one of our experts now:
LinkedIn: 94% of employees say they would stay at a company longer for this reason—and it’s not a raise, cnbc.com/2019/02/27/94percent-of-employees-would-stay-at-a-company-for-this-one-reason.html