For companies having a higher turnover in industries like hospitality, finance, retail, and tech, there is a great risk of having a turning door for employees. Its presence indicates that your company is continuously using resources for hiring and training new staff, while the important resources might have been going elsewhere.
There’s ample disruption in the higher turnover industries because staff continuously need to adjust or re-adjust to the new team, as well as work procedures. Therefore, how should employers and managers approach training for the higher turnover industries? Is this worthwhile to invest in employee development & training for these industries? The answer is definitely yes! With the correct training, you can considerably reduce the rate of staff turnover as well as help your business succeed in the higher turnover industries.
Let’s discuss some important points when it comes to employee training in these high turnover industries.
Hire the People Who Are The Right Fit
By investing additional time in the hiring process to interview the correct people, you can decrease staff turnover as well as save money on more recruitments, onboarding, and training.
Finding the right person is not just about notable CVs and all-star experience, but also finding the employees who have the same values which your workplace culture has – the staff who can help in achieving your company’s vision, mission and goals.
Invest your sources into finding the employees that can be the right fit for your company and your investment will be worthwhile in the future. Hiring the immoral people who will leave within the initial few months would result in a higher staff turnover rate.
Retain Deserving Employees
It is very important to retain the deserving employees. Retaining the deserving staff is the finest way to decrease future training and hiring costs. However, how can you ensure that you are retaining a good team in the high turnover industries?
Particularly tech companies are well-known for providing perks, open-plan offices and ping pong tables because they are working in a high-turnover and super competitive industry. This means they incentivise employees with better deals and perks, to retain the finest talent.
However, there is something much more significant than all the extras or perks which will assist you in holding the employees. You must provide staff a positive, strong, and helpful work culture and environment. One which fosters collaboration and leadership. Creating this type of company culture is the best option for holding employees in the higher turnover industries.
Invest in Training, Development, & Microlearning
Companies can proactively decrease the staff turnover rate through investing in staff’s training and development.
People mainly leave their job for the main reason that they find a better job offer. The finest way of preventing this is to demonstrate that you have invested in the professional development of your employees. Whenever a company spends money, time, and effort on developing the person’s skill sets, it is a greeting that employees are valuable. It is the feeling of being valued that will do more to impart loyalty in the staff than anything else.
Looking at the employee training program – does that provide your staff options for growth and development? The majority of employees wish to professionally and personally progress, as well as to achieve their goals right through their career. If employees feel as though they are not important to the company, they will most likely begin to search for other opportunities.
Microlearning delivers updatable and constant learning, as well as the physical inclusion of employees. This helps people to begin their career transformation. Microlearning is carefully curated to provide knowledge to employees, embedding behavioural changes, which are key for driving improvements and transmuting cultures.
Investing in Microlearning and training is undoubetdly a win-win situation for both the company and its employees. With actual training, the employees will demonstrate improved profits and productivity, as well as better job satisfaction. Through offering up-to-date industry training, employees will have access to the new information and skills which will pay back to the company!
If you would like to learn more about how to build the most effective employee training strategy!
If you’d like to know more about how EdApp’s mobile learning platform can help your internal training practices, get in touch at email@example.com. You can also try EdApp’s Mobile LMS and authoring tool for free by signing up here.