Americans are quitting their jobs in record numbers; HR is struggling to fill positions; recruiting can cost up to $40,000 per new hire.
Yet, employers are ignoring a substantial resource – their own employees.
So goes Patrick Donovan’s Training Industry article on what he calls the “ironic twist” that’s shortchanging many employers’ talent strategies – the underuse of employee training. Current employees, wrote the Bright Horizons senior vice president, are already a fit for culture and hungry for development. Why aren’t they being leveraged to fill skills gaps?
The data told a very clear story about what career training could do:
- Save jobs: training could reduce automation-related job losses by 80%
- Improve retention: 94% of workers would stay with their company longer in exchange for help to further their careers.
- Save money: One company saved $1.44 for every dollar it spent on education reimbursement.
“Many companies are engaging third-party experts to establish and manage education programs,” wrote Patrick, pointing to Aetna which has experienced retention and promotion growth as a result of their program.
“It helps close skills gaps that prevent too many workers from finding rewarding careers — and it helps companies find undiscovered talent hidden within their own ranks.”
Read the full article, here.