Estimated reading time: 4 minutes
The business world is brutal enough, but organisations will know that it gets even harsher when competing for talent. In today’s reality, retaining talent is of utmost concern. With research showing that employee turnover costs an employer 21% of the employee’s salary, it is plausible to see the importance of employee retention.
In this article, let’s understand why employees leave an organisation and how corporate trainings are able to curb this problem.
Here are the 3 main reasons behind employees leaving an organisation:
- They do not feel engaged
- Little opportunities for growth
- Poor job fit
Following that, here are how corporate trainings are able to improve efficiency of employees and reduce employees’ turnover rate:
- Improvement of workplace culture
- More opportunities for growth
- Assignment of better job scopes to an employee
They do not feel engaged
According to Gallup, engaged employees are more likely to feel that that they are paid adequately as compared to disengaged employees. When employees do not feel engaged, they expect higher salary as compensation. Hence, when organisations do not meet their expectations, these employees have little incentive to remain in the organisation.
Engagement in the workplace often refers to the motivation or emotional commitment that employees feel towards their employers. By providing corporate trainings to individuals of the higher management or to the HR department and increasing their interactions with individuals from other established corporations with similar job scope, it will facilitate the initiation of activities to improve the workplace culture.
Little opportunities for growth
Many employees value their careers and often desire opportunities to further advance their careers. If they feel that the career paths in their current organisation are bleak, it increases their motivation to leave the organisation and look for opportunities elsewhere. In fact, according to Udemy, 42% of employees said that learning and development are the most important benefits when deciding where to work.
By providing corporate trainings to employees, it will ease the minds of employees who feel that their skills are becoming obsolete. The opportunities given by the organisations to develop their professional skills and further their career will reduce their stimulus to look for prospects in other organisations. With more opportunities for new challenges, there is increased motivation for employees to do better at their current job and reduces motivation for turnover.
Poor job fit
Many people would have experienced having a job whereby they felt disconnected with the job scope. In huge organisations with many hiring roles, it is usually hard to assign an individual to a role that perfectly suits him. This will typically lead to high turnover as individuals feel underutilized or overutilized at work. When HR managers do not manage to make the best out of an individual’s skills, it may lead to the individual developing feelings of demoralisation over time and increase their motivation to find for other job prospects.
This can be solved by sending employees to corporate trainings. Regardless of the skills they possess originally, re-equipping the employees with the job-specific skills will allow them to familiarise themselves with their assigned job scopes and reignite their desire for the assigned job due to the heightened challenge. Providing employees with better job fit will increases both employees’ productivity and satisfaction, decreasing turnover rate.
With the intense competition for talent today, organisations have to recognise the need for retaining talents and take action to retain employees. Investing in corporate trainings is one good way of combatting this challenge.
Opus Kinetic believes that people are why organizations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house trainings, and many other professional training courses spanning from various industries. Our training courses are well-researched and updated with the latest industry trends. For more information on our professional training programs, check out our training calendar.