Our experiences shape our outlook, and the pandemic has not only left a mark on businesses but also changed the way employees think about their work and careers. Employees are thinking differently about their career aspirations. This change in the employee views has caused an unfortunate decrease in employee retention.
Talent and skill shortages are the biggest hurdles on the path to achieving business goals. Has the decrease in employee retention worsened the shortage and impacted your business goals?
Tradition employee engagement methods, like offering great compensation, isn’t enough to retain your top talent. To increase employee retention it is critical to establish and nurture a learning environment where employees can grow and advance in their careers.
Employees should be able to see a clear picture of their career progression. Map out a path to professional development and help them visualize the benefits of learning. Employees value the companies that give importance to their career development and are motivated to work with unwavering determination to fulfil the company’s goals.
Build a Modern L&D Infrastructure to Retain Your Top Employees
If the foundation is weak, the entire building might collapse. You must ensure your L&D program is strong enough to build a modern learning infrastructure in your organization. Learning and development help in increasing employee productivity and taking the next step toward innovation The best way of responding to the Great Reshuffle is by upgrading your learning and development to build the workforce of tomorrow.
Here are 4 ways you can amplify your L&D program to increase employee retention:
1) Train your learning and development professionals
Proficient L&D professionals are rare talent; if you find the right one, you cannot afford to lose them. The L&D professionals are no different from the rest of the employees of your organization. Like others, they need to continuously hone their skills to stay relevant in this rapidly changing business world.
Amidst decreased employee retention, a skilled L&D professional can play a critical role in keeping the best talent. So ensure you incorporate a train-the-trainer model in your organization where the L&D professionals are consistently trained on how to disseminate consistent on the job learning opportunities throughout the organization.
L&D professionals need constant upskilling to expand their expertise and grow their competencies as mentors to anticipate the learners’ needs to provide utmost satisfaction. Moreover, with digital acceleration, L&D even need the right skills to leverage the benefits of modern learning technologies.
Your L&D professionals should be equipped with all the tools and resources to keep themselves updated on the latest learning and development trends. Training a diversified workforce is no walk in the park. Hence train the L&D professionals to ensure they handle the minutest query efficiently and conduct effective learning sessions that reap fruitful results.
2) Train your leaders to better understand employee needs
To increase employee retention, your leaders must first know what their employees need. Unfortunately, there is often a communication gap between the leaders and employees, which leads to dissatisfaction and high attrition.
Managers need to foster open communications and be active listeners. Open communications help employees voice their thoughts. This is a great way to understand the employee’s needs and requirements.
Leadership training is crucial to help managers develop necessary people skills, like open communication and active listening. Managers should be trained to build a healthy relationship that’s a conglomeration of trust, transparency and integrity. When your managers build a positive relationship with the employees, they can provide your L&D team with information they need to create results-driven L&D programs. These customized programs don’t just improve employee skills, but they also improve employee retention rates.
3) Upskill and reskill your workforce
Modern employees do not want to be boxed in the same role with limited capabilities. They aspire to move beyond their current role and take up more responsibilities to climb the stairs of success in their career. Unfortunately, this is one of the main reasons employee retention has decreased.
An aspired employee can be a valuable asset to the company. Hence put the spotlight on employee aspirations and give them the reskilling opportunities to smoothly transition into the new roles.
Upskilling and reskilling are the surest pathways to employee longevity; hence determine the skills needed for a specific role and help employees develop those skills to ensure they successful dip their toes into new responsibilities.
4) Leverage a skill building platform to enhance L&D
The old-school training isn’t effective in the modern business world, where employees expect a personalized learning experience. Hence jump on the digital learning bandwagon by embracing a skill-building technology. For instance, with the AI-powered skilling solution like Disprz, a pharmacy retail chain was able to drive KPI-based coaching and keep employees up-to-date on trending industry skills with microlearning.
The right skilling platform can help cultivate a continuous learning culture. It can help you in managing the complete employee lifecycle, from onboarding employees to help them progress to the next level. As a result, employee retention rates will rise.
Embrace the Power of L&D to Increase Employee Retention
Taking a positive turn toward the future of learning solutions can help prevent low employee retention rates. Employees aspire to succeed in their careers; if you give them the chance to expand their capabilities and grow within the organization, they won’t look for opportunities outside the company. Focusing on mentoring employees to keep a check on their needs and fulfill them in real time to ensure utmost satisfaction.
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