In a recent survey of 34,000 people, dissatisfaction with career development ranked highest in reasons for leaving a company. And workers between the ages of 18 and 35 rank career advancement opportunities as the most important consideration point in evaluating a job. However, only half of workers report that their companies provide upskilling and career development opportunities that actually meet employees’ needs for advancement.
In fact, you could spend up to 33% of a worker’s salary just to replace that worker. If you’re not providing employees with career development and upskilling opportunities, your business may be losing valuable talent – and serious revenue.
When you proactively invest in your workforce’s skills, you can increase employee satisfaction, engagement, and retention. Let’s be clear: it’s a lot more cost-effective to train employees and keep them in your organization than it is to search for, hire, and train new workers.
WorkLife Partnership’s Upskilling team will create a comprehensive, customized plan for educating and developing your workers. From presentations to group training to one-on-one career coaching, our offerings are scalable and personalized to your individual business needs.
You’ll keep more people: when weighing a decision to stay at a job, 70% of employees reported that access to career development and upskilling influenced their decision to stay.
You’ll create better performing teams: when management commits to employee development, their companies outperform companies that do not have development programs by 202%.
You’ll retain top talent: it’s expensive to replace high-performing, specialized workers. Developing your existing employees leads to higher loyalty, engagement, and job satisfaction – so it’s less likely you’ll have to go through an expensive hiring process to replace top performers.
You’ll strengthen the pipeline: When your company makes leadership changes or restructures in any way, you’ll have a loyal, skilled talent pool to draw from, saving you time and money in a search for outside candidates.
“Only half of workers report that their companies provide upskilling opportunities”
Let’s get started on upskilling opportunities and strategies for your business.