A lot depends on the onboarding experience of an employee. According to a recent study, it was revealed that a positive onboarding experience can compel at least 69% of employees to stay with a company longer than a year.
At the same time, this number increases when employees are provided L&D opportunities regularly. This makes it vital for companies to focus on providing employees engaging onboarding and training programs.
Failing to do so can result in a huge employee turnover which is undesirable for the reputation of any company. Thankfully, it’s now easier than ever to provide L&D opportunities to employees through tools like LMS.
A Learning Management System or LMS facilitates the creation of eLearning courses and automates the delivery of these courses. Modern LMSs like Totara Learn, Mindflash LMS, Docebo, and others provide mobile learning support as well, making it convenient for employees to learn from anywhere at any time.
But how exactly does a training program helps in increasing employee retention? To help you out, we have gathered information from companies with the lowest employee turnovers to understand their retention strategies.
1. Helps in career growth:
Investing in employee training allows employees to grow their knowledge. It equips them with the skills they need to perform to the best of their abilities.
The knowledge employees acquire from a training program helps them go ahead in their careers. This has a positive impact on their morale and increases their job satisfaction.
2. Increases commitment:
When employees see the company investing in their growth, they feel gratitude towards their employers. This increases their dedication and makes them more committed to company growth.
An engaging training program fulfilling all employee learning needs provides an employee with personal as well as career growth. This builds loyalty towards the company and leads to employees staying longer with the company.
3. Enhances engagement levels:
A well-structured training program is very powerful in enhancing employee knowledge and keeps them interested in learning. When LMS features like gamification is leveraged, training content becomes fun and fosters healthy competition among employees.
This increases their work productivity and the company’s overall performance. Moreover, employees feel valued when a company provides them L&D opportunities, leading to increased engagement levels.
4. Makes them more competent:
An effective training program is very helpful for employees to learn new skills and hone their existing skills. This helps them perform their job in a more productive way, which enhances their self-confidence
Well-trained employees perform better and produce quality results. This makes them capable of facing all kinds of challenges and achieving business goals.
5. Makes them more valuable for the organization:
If an employee performs averagely and does not contribute much to the success of the company, they become a liability. Replacing an employee and training a new resource right from scratch is expensive.
Instead, when a company ensures that its employees keep upskilling, they become more valuable to the company. The longer a skilled employee stays with the company, the more productive they become.
6. Encourages innovation:
When employees learn new skills they become more competent at their jobs. Learning allows them to think of better solutions to execute their work. They present their opinions and are open to discussing new ideas.
A trained team is more proficient in finishing a project faster. As everyone contributes, it leads to the creative juices flowing and improves the overall results produced by the team.
Training employees is one of the best retention strategies. Online training solutions are cost-effective and reduce time spent by employees on training. This helps them learn faster and enhances their skill set, along with reducing employee turnover.