Why Providing Employees with a Training & Development Plan Can Improve Staff Retention
Employee retention is a critical challenge that many organisations face, especially in Arb and Forestry. High employee turnover rates can lead to increased costs related to recruitment, decreased productivity, and lower morale amongst remaining staff. One effective strategy to improve employee retention is to provide employees with a comprehensive training and development plan. In this blog post, we will explore the benefits of offering training and development opportunities to employees and how they can positively impact staff retention.
Increases Employee Satisfaction:
When employees receive training and development opportunities, they feel valued and appreciated by the company or organisation. This, in turn, can increase job satisfaction and employee engagement, leading to a much more loyal and committed workforce.
Enhances Employee Skills:
Offering training and development opportunities helps employees to acquire new skills and improve existing on ones, making them more valuable. This can lead to increased job security and career advancement opportunities, further improving employee retention.
Boosts Productivity:
Training and development can lead to an increase in productivity, as employees are better equipped to handle their job responsibilities. As employees become more productive, they can accomplish more in less time, which can positively impact the bottom line of the organization.
Improves Employee Loyalty:
When employees feel that their employer is invested in their personal and professional development, they are more likely to remain loyal to an employer. This can lead to a decrease in employee turnover rates and save money on recruitment and onboarding costs which for a unskilled worker can cost thousands in training and PPE.
Fosters a Culture of Learning:
Offering training and development opportunities helps to create a culture of learning within the organization. Employees are encouraged to continually improve their skills and knowledge, which can lead to a more innovative and competitive business.
In conclusion, providing employees with a training and development plan is a win-win for both employees and the business as a whole. It can increase job satisfaction, enhance employee skills, boost productivity, improve employee loyalty, and foster a culture of learning. All of these benefits can lead to increased staff retention, which is a critical goal for any organisation.
References:
Baldwin, J. N., Wouters, A., & Schwartz, M. (2017). The role of training and development in employee retention: A literature review. European Journal of Training and Development, 41(3), 258-273.
DeRue, D. S., Nahrgang, J. D., Hollenbeck, J. R., & Workman, K. (2012). A quasi-experimental study of after-event reviews and leadership development. Journal of Applied Psychology, 97(6), 1283-1294.
Holtom, B. C., Mitchell, T. R., Lee, T. W., & Eberly, M. B. (2008). Turnover and retention research: A glance at the past, a closer review of the present, and a venture into the future. Academy of Management Annals, 2(1), 231-274.
