By now we’re all familiar with ‘The Great Resignation’ — the wave of resignations at the beginning of the pandemic. While the biggest influx may be over, one poll reports that 23% of people will seek new jobs in 2022. So what does this mean for organisations? Replacing people can be expensive, ranging from 50% to 250% of their salary. But the cost isn’t only financial. Saying goodbye to co-workers can result in a loss of valuable knowledge and skills, reduced team morale, and a drop in productivity.
How can L&D teams help support talent retention?
Learning and development is an integral aspect of a healthy workplace and is key to talent retention. 63% of workers who quit their jobs in 2021 reported no opportunities for advancement as a reason for their decision, making investment in workplace training and upskilling all the more important if you want to keep your top talent. Here are our top tips for implementing an effective learning strategy to retain talent:
1. Prioritise zigzag upskilling
Career advancement is usually seen as a linear pathway. We often relate progression to becoming a manager or senior leader within the industry you land in after finishing school or university. However, career progression does not have to follow the traditional trajectory. A zig-zag career involves varied roles across divisions or even industries, but it can equally take place within a single organisation.
Why should L&D leaders lean into this approach? People who zigzag tend to be flexible, curious, and adaptable with a strong desire to learn new skills and broaden their expertise. This wealth of knowledge and experience can lead to the cross-pollination of ideas across an organisation, helping to combat the stagnation that comes when teams don’t share insights and ideas with each other. L&D teams can provide the resources needed for employees to get the most out of their current role and help them plan for their next one. While not everyone will want to move between roles, a zigzag approach empowers employees to identify areas they want to grow in, whether that means moving up the ladder, deepening their existing skills, or exploring completely new roles.
2. Make learning concise and continuous
Upskilling employees doesn’t have to be through formal training programs or week-long seminars. It can involve practical, face-to-face sessions as well as virtual workshops, online resources and tailored coaching sessions. There are many great alternatives to classroom-based learning, such as YouTube videos, online forums, collaborating on projects, and buddying people up with in-house experts.
3. Don’t just talk about learning, make time for it
The most important part of a good learning program is time. Organisations need to truly schedule in time for employee development for it to be effective. Learning should not be a burden to employees, but should empower them to build on their skills and succeed in their roles. Building discussions about development into weekly or monthly check-ins can help employees and their managers identify time to weave learning into their workflow and set meaningful and realistic goalposts to assess learning progress.
4. Weave learning into everyday workflows
Building on the previous point, the ‘3Es’ formula is a great method for structuring employee learning, providing a helpful way for employees and their managers to identify opportunities for learning. The formula divides workplace learning into three different elements: 70% of learning should be through experience, 20% from exposure to new tasks or opportunities, and 10% through education. Experiential learning theory makes the case that adults in the workplace learn best by doing, and so the majority of employee L&D time should be dedicated to on-the-job training. This could be through cross-functional projects, mentoring or special assignments that are designed for skill development.
5. Focus on manager training
Managers are key to ensuring that L&D programs are implemented effectively. It is particularly useful for managers to know how to support training initiatives to help their team achieve their career goals. Providing managers with a wide variety of leadership training, from reflective exercises designed to build self-awareness to tips for structuring difficult conversations, as well as personal and team goal setting strategies, will help employees and managers alike feel supported in their learning journeys.
So, is L&D the key to staff retention? While it’s not a guarantee, investing in your employees certainly helps them feel valued and empowered to do their roles effectively. Leverage these strategies to gain stakeholder buy-in for learning and development programs that attract and retain top talent for your organisation. Equipping your people with the skills and knowledge they need for career progression might ultimately lead them to take their skills elsewhere, but your investment in their development might just mean that they boomerang back again.
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Author bio:
Creative training and enablement agency
At Quadmark, we deliver powerful learning solutions for your people, partners and customers. With a learner-centric approach, our training is designed for the best learner experience and outcomes.
Our tailored solutions support L&D, People, and Sales enablement teams to attract and retain talent, drive sales, and implement lasting change.