Talent Exodus: How Learning Programmes Can Address Employee Attrition

As the saying goes, “people don’t quit their jobs; they quit their managers.” In today’s highly competitive job market, it is more important than ever for companies to retain their best talent. But how can learning programmes help address employee attrition?

Imagine you are a top performer at your company, but you feel like you are stagnating in your role. Your manager is too busy to give you the support and development you need to grow, leaving you feeling unappreciated and undervalued. Before you know it, you are scrolling through job listings and thinking about leaving the company.

This scenario is all too common and is a prime example of how a lack of learning and development opportunities can lead to an exodus of talent. However, by implementing engaging learning programmes, companies can retain top talent and prevent them from jumping ship.

How do learning programmes address employee attrition?

On average, every year, a company will experience 18% turnover in its workforce – SHRM

Employee attrition, or the loss of valued employees, is a major challenge for many companies, resulting in lost productivity, higher costs and a negative impact on company culture.

However, implementing learning programmes can help solve this problem and keep the best talent in the company. Here is how:

1. Improved job satisfaction

Employees who feel that their skills and knowledge are constantly being nurtured and developed are more likely to be satisfied with their work, which leads to a lower turnover rate.

A study by The Society for Human Resource Management (SHRM) found that employee training reduces turnover. In addition, a recent report by LinkedIn Learning showed that 94% of employees would stay with a company longer if it invested in their professional development.

2. Increased productivity

Investing in employee learning and development can lead to increased productivity and efficiency and help your company achieve its goals.

A recent study found that companies that offer comprehensive training programmes have 218% higher income per employee than companies without formalised training. But that’s not all. These companies also have a 24% higher profit margin.

Related reading: Brain Drain and Your Organisation: How to Mitigate the Impact

3. Attraction and retention of top talent

In today’s job market, employees are constantly looking for opportunities to develop and learn. Offering learning and development programmes can help your company stand out as an employer of choice.

By providing your employees with the training and development they need to advance their careers, you can attract and retain top talent, reduce employee turnover and help your business thrive.

4. Future-proofing your business

Learning and development programmes can also help future-proof your business by ensuring employees have the skills and knowledge they need to adapt to changing market conditions.

By providing your employees with ongoing training and development opportunities, you can help them stay ahead of the curve and remain competitive in an ever-evolving business environment.

5. Reducing recruitment costs

Investing in employee professional development can also help reduce recruitment costs by reducing turnover. When employees are satisfied and motivated, they are less likely to leave the company, saving you the time and cost of finding and training replacements.

Recommended reading: Winning at Talent Acquisition in 2023: The Complete Playbook

But not all learning programmes are the same. To truly address employee turnover, learning programmes must be engaging, relevant, and tailored to individual employee needs. This means offering various learning options, from traditional classroom-style training to online courses and self-paced learning.

In addition, it is crucial to involve employees in the learning process and ensure that they feel engaged in their development. This can be done through regular check-ins and feedback sessions and by offering opportunities for employees to share their knowledge and experience with their colleagues.

By implementing engaging and effective learning programmes, companies can address the issue of talent exodus and retain their top performers. Not only does this benefit employees, but it also leads to a more successful and sustainable business.

Are you investing in your employees and their professional development? Download our 2023 training calendar to get started.