Why it is so important!
Workforce Development, also referred to as Professional Development or Employee Development is a very important practice that most companies fail to do well, if at all. A recent Harris Interactive poll found that nearly 75% of employees plan to leave their current job as soon as they can find a good alternative – 75%! Think about 3/4 of your workforce not showing up tomorrow and what kind of a bind that would put on your business. While extreme, it does illustrate the magnitude of the potential problem.
Why are 75% of employees looking to leave? There are several general reasons. First, there is a natural process of employee attrition that has been strongly curtailed since 2007. Think of this as the normal job hopping that was dramatically reduced since the start of the recession. People who would normally job hop had no good job to jump into and therefore have stayed with their current employer longer than they planned. Second, many of the perks that keep employees motivated and happy were reduced or eliminated during the economic downturn. While the organization was forced to do this to control costs, the employees often see these reductions in benefits as a sign that the company doesn’t value or care for them. Third, the economy has made businesses operate more efficiently which often means an increase in workload for many employees with no corresponding increase in pay or title.
Employers are forced to make a choice, continue as-is or attempt to find ways to increase employee satisfaction to retain – and attract – the best employees. One important method is a properly executed workforce development plan. Employees who partake in company sponsored education and professional development programs are more loyal and retain at a much higher rate. Employee development can take many forms, and our Business Services group can help your organization achieve the right plan and training to meet your needs.
But wait – there’s more! The information above makes the case for an workforce development program as a leading tool for employee retention. While these benefits are certainly powerful and stand alone; the more impactful benefit to providing professional and employee development is the gain in productivity seen from these employees as well as their elevating their output and performance in their jobs. Let us help solve your employee retention and productivity concerns. Contact us today!
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