High employee turnover is any company’s nightmare, as it increases human resources-related costs and has a negative impact on productivity; new recruits need several months before reaching their peak productivity levels, besides the associated costs of replacing staff members.
Lots of Australian employees are thinking right now about landing a better job soon, and some of them may work in your company. If you want to prevent such inconveniences, it’s important to understand that one of the most common reasons why people choose to quit is the lack of professional challenges and new experiences at their current workplace.
Fortunately, there are more effective methods of ensuring worker loyalty aside from offering salary rises when people decide to quit their job, and one of them is training.
Here are some benefits that training brings both to your company and its employees:
- Employees feel valued when you offer them the opportunity to improve their skills.
- Training increases motivation for work a lot more efficiently than factors such as praise or benefits, because it fosters extrinsic motivation as opposed to waiting for a reward in exchange for their accomplishments.
- Improving employee skills eventually leads to increased productivity.
- Training is often coupled with gamification, and people who have fun at their jobs experience higher workplace satisfaction.
- Training keeps talented staff engaged and prevents you from being left just with poor performers.
- For most people, expanding their set of skills is also a source of personal satisfaction, which is often considered more important than professional accomplishments.