Many people consider scoring a job and job-satisfaction as the same things; however, this is a grave misunderstanding.
A multitude of factors influence job satisfaction, such as compensation, working conditions, bonding with co-workers but perhaps the most important factor is opportunities for advancement and learning.
Most companies are embracing the modern trend of training on the job and it’s proven to be quite successful in dealing with employee attrition.
Employee attrition is the reduction of staff by voluntary or involuntary reasons. These can be through natural means like retirement, or it can be through resignation, termination of the contract, or when a company decides to make a position redundant.
One in three employees leave their employer in their first year.
In fact, the cost of losing an employee can be three times the salary of the employee.
87% of employers stated that improving retention is a critical priority for their organization. The cycle that ensues after an employee leaves a company is even more hectic and costlier.
Not only does the company need money to fill up the recently vacated position but it also needs time. But why do employees leave abruptly?
There is a plethora of reasons, one of them being lack of growth opportunities. Nobody appreciates a stagnating position, and inadequate training further promotes the negative attitude of employees.
However, competitive recruiters and managers have devised a solution: Real-time Online Training for Employees.
According to Forbes, corporate training spending has grown to over $70 billion in the United States.
How training is the solution to employee attrition
There may be variety of reasons triggering dissatisfaction among employees but the biggest factor that influences them to look for greener pastures is the lack of learning and growth opportunities.
Learning and growth go hand in hand and often employees may become disoriented with the new job responsibilities or sudden changes. The best way of dealing with this is by organizing well-designed training sessions for professionals with real-time instructors and online courses.
Training: the need of the hour
Here are some of the reasons why businesses should focus on training.
Not only does training assist in cutting back employee attrition rate but it also enhances their overall skills leading to asset development within the organization.
The practice of training employees on the job is pretty common all over the world and is widely favored by organizations of all types.
It’s only obvious that those who don’t get to advance within the company often meet with disappointment and take to fulfilling their quest elsewhere, effectively leaving the organization.
Hiring new talent costs the employer much more than retaining the existing team which is why most companies favor retaining teams and foster loyalty through rewards.
Nevertheless, the need to learn and grow is often overlooked and dismissed by many leading to the departure of valuable talent.
Ways training will help employers motivated employees
Having said that, the state of demotivation among employees can be tackled with effective inter-organization training. This will ensure that employees stay longer with the company.
Effective way to teach virtually & intrigue employees
Employers and managers can design real-time instructor-led courses with classroom settings along with online alternatives that save time and money. Employees can choose from the alternatives and sign up for virtual and instructor-led classes based on their necessities and pain points.
Even though online courses are preferred, real-instructor led classroom courses are favored by many due to their old-school teaching approach.
Training opens an unspoken dialogue with employees and paves way for growth of the personnel over time. Employee attrition has a variety of reasons with one being lack of training and learning opportunities inside the company and offered by the company.
When real-time and virtual training is introduced to the routine, employees will take more interest in meeting goals and personal development.
Training improves communication within the organization and shows that the company cares about enhancing employees’ skills and giving them an environment that enables productive results.
Adds value to employees’ resume through certifications
Training is incomplete unless it is fruitful and useful in term of value. So including an important certification program in the training will help in boosting employees’ interest and active participation.
When employees know that their hard work is being rewarded, they would not only show higher response but also align with the company for longer to enjoy the benefits.
Some companies also offer scholarship and promote employees for higher education to lengthen their association.
Why online training software is favored for upskilling employees
User-friendly, readymade, online training software tools are available widely in the market. Trainers, recruiters and advocates of training within companies can rely on this cost-cutting investment that enables trainers to develop customised and branded courses in no time.
It encourages positive sentiment and motivates employees to perform better by signing up for courses.
As compared to traditional classroom training sessions, virtual classrooms and online training with manual/real-time discussions are really helpful for organisations investing in human resource training and development.
Moreover, course creating tools offers trainers the flexibility to access and design courses from anywhere, anytime in the world and track employee/learners’ performance.
Training software solutions offer some interesting features that make it a worthwhile solution such as zero installation or downloading.
Trainers and professionals get the advantage of not needing to install a specific software or download it on their computer. The training software works with a simple online account and trainers can create courses by uploading content.
Another advantageous feature of these training solutions is that they are mobile compliant/responsive so trainers can access them easily on any device and browser. In a survey conducted in 2017, mobile devices accounted for 49.74 percent of web pageviews worldwide.
Moreover, online training tools allow trainers to utilize existing content by importing it from other LMS platforms and supporting it with PPTs, graphs, videos, audios, images, etc.
When it comes to assessments, trainers are at an advantage with the software’s automated employee assessment option which includes quizzes and surveys to automatically assess and certify learners.
Trainers who want training to reflect the identity of the company and build a separate, flourishing e-learning and training domain of the company can employ the courses authoring tool’s branding option to customize the ‘look and feel’ of the platform, content, certificates, tests, surveys, etc.
Internal training is not just feasible but also simple to employ. While a wide number of employers and coaches use this tactic to maintain their competitive edge and upskill their employees, it is surely an easy way to counter employee attrition and boost retention.