Retaining talented employees is an eternal struggle for employers. Recruiters are increasingly looking to woo top talent away from current employers, and top talent is continually looking for the next step up the ladder and keeping their options open for a better offer.
The atmosphere companies create for their employees has a lot to do with whether they will be able to retain them. Top talent looks for opportunities to learn more and improve their skills–they want to advance and will gladly leave if they get an offer somewhere they think is better or for a lot more money than what you’re paying.
Creating an atmosphere in which continuing education is valued and advanced within the company can go a long way toward retaining employees, making them feel like they have something to contribute and that they can move up to the next job level when the time is right.
What makes employees willing to leave your company and start over again somewhere else? They do so when the payoff for leaving is greater than the payoff for staying–so you have to increase the payoff for staying. Continuing education is one way to do so.
Investment in Employees
The main reason an emphasis on continuing education is so important to employees is that they see it as an investment in their lives in an ongoing way. When employers provide or fund continuing education training, employees know that their skills development is a top priority and they feel that employers care about them when training is provided.
Companies may think they don’t have the means to fund continuing education, but hiring new employees also costs money. Studies have shown that it costs between 20 and 200 percent of an employee’s salary to replace them when they leave. Even for low-level employees, this adds up to thousands of dollars. The average amount businesses spend on training employees is just over $1000 each year, so intentionally investing more could actually cost less if more employees are retained.
Better trained employees will also be more productive and do their jobs better, which will benefit the company’s bottom line and bring a further return on any training investment.
Continuing Education Options for Employee Training
Not all training is created equal. Online training programs have become widely available and can serve a purpose, but some of them can be unappealing and cause people to spend their time in other ways. Engaging, interactive and in-person courses are the best options for the type of training that will be seen as an investment in your employees and will advance their skills.
Central Connecticut State University offers many different continuing education courses that may benefit your company’s employees. Courses are affordable and engaging, with many leading to certifications that will prepare them for advancement within your company. View all our open courses to see what we can offer your company’s employees.