Guest Post – Development Drives Retention
According to CareerBuilder.com, 21% of employees plan on finding a new job in 2014. Are you ready to lose 1 out of 5 of your employees? I don’t think so because you know that turnover is costly. There are the obvious costs – hiring, interviewing, and training costs. And there are the less obvious cost of turnover such as running your business under staffed, or losing top talent and even worse losing talent to your competition. So, it makes sense that every company needs to take action to do what they can to minimize turnover. And one way to do this is through development.
Studies show that employees who are offered career development and general development opportunities are more likely to stay with their organizations and stay for a longer period of time. In fact, according to a study conducted by Kenexa 30% of people leave due to lack of professional development.
But that is only half of the equation. What about your managers? The old saying is “employees join organizations and quit their boss”. This puts the focus on your management development process. In fact, a recent Forbes study showed that the one of the top three drivers of turnover was boss performance. Have you trained your managers and developed their capabilities to treat employees as the valuable resource they are?
On July 16 at 2 ET, we will be delivering a webinar where we will talk about why retention is important, how employee development and management development can lower turnover. Additionally, we will be showing some solutions you can use to drive retention through development. This will be a highly interactive session. So, please come prepared to share your employee and management development stories that led to higher retention rates. The session is going to be so interactive, instead of calling this a webinar, maybe we should call it a “Discuss-inar”!
Hope to see you on July 16th! Register here: https://www4.gotomeeting.com/register/153349271
Guest post by Cindy Pascale, CEO, Vado, Inc.