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Jagpreet
20 June, 2024
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Human capital is the backbone of a company and the most intangible asset. Finding the right staff who is capable of delivering the set business objectives and has the potential to meet modern demands is hard. At the end of the day, it’s the company’s staff which drives the success of a business. That is why, companies must emphasise staff training and retention. When employees are not effectively trained, they tend to lose interest and choose to quit their jobs. Focusing on their work-life balance, career development, salaries and mental health can retain your staff for a much longer period of time.
It is the act or initiative taken to train or improve the performance of an employee. Regular and adequate staff training results in an increased employee retention rate which means that your employees choose to stay at your company for a longer period.
Facilitating employees with relevant training targeted to improve their skills and knowledge will help in their professional development. This in turn will enhance their performance, benefiting the company at large. Most importantly, it leads to employee retention and brings efficiency to the workplace.
No matter at what stage you are in your career, regular training and upskilling are crucial for career progression. Despite the high cost of staff training, the return on investment is immense if consistent.
There are several reasons why launching a staff training programme for employers and employees is essential. A few of them are mentioned below:
Enhances niche skills and knowledge:
Staff training is known to upgrade the knowledge of employees as per the latest changes in the industry. These trainings will help broaden the perspective of an employee, which will later reflect in the work he/she does.
To meet the parameters of performance appraisals:
Sometimes, there are a few areas which need improvement in an employee’s performance. In such instances, training programmes can be organised for the staff to work on their skills.
Prepares the staff for bigger responsibilities:
Moving to a higher role adds a lot of responsibilities on your shoulders, which needs an advanced skill set. Training programmes organised for such candidates can better equip them with the relevant skills.
Shows that employees are valued:
Prioritising employee betterment and growth will make them feel valued. It will show that the company is ready to invest in their staff and thus, will motivate them to be more productive.
Bring positivity to work culture:
No one likes a toxic work culture where growth and mental health are hampered. This is one of the main reasons why employees quit their jobs, however, training programmes help a lot in this aspect. If an employee sees growth, he/she will prefer staying in the same company for long.
Hiring new staff every 3rd month, investing time and money in their training only to lose them after six months is not what any employer would want. So, to boost employee satisfaction and increase retention rate, you can implement the following strategies:
Allow flexible work mode:
Since the pandemic happened, the work-from-home or hybrid work culture has gained huge popularity. It is not only convenient, but various studies have shown that employees were more productive and happier in this setting. Moreover, it has brought balance between employee’s personal and professional lives.
Offer competitive salary:
Unless you pay your employees competitive salaries as per the market rate, you will not be able to retain them. A salary package worthy of the sacrifice and hard work your staff is doing should be on top of the list.
Encourage work-life balance:
A healthy work-life balance is desired by every employee and as an employer, it is important for you as well. You should respect your staff’s personal time away from work which would relax his/her mind and bring positivity.
Recognise your staff’s effort and reward them
: Every effort of your employee should be appreciated and all his/her contributions must be duly recognised. Reward your employees on a regular basis be it social recognition or monetary rewards. This motivates them to perform even better and boosts their confidence.
Improve employee engagement :
An engaged employee has high morale and productivity which creates a positive learning environment in the company. Listen to their opinions and organise interactive activities to connect with them. Such activities can instil a sense of teamwork in the staff and you can identify the capabilities of your staff.
A burnout employee will not benefit you and your company in any way. He/she may show quantity in work but the quality of his work will start reducing if your employee is not happy and valued. Staff retention is an important aspect of a successful business. Without talented and dedicated human capital, no business can flourish. Therefore, investing in staff training and retention is an investment in the high performance of a company.
