There are many problems that businesses encounter with their personnel. Whether it’s the employee turnover, hiring qualified personnel or even getting your personnel to meet production demand.
Here are some shocking statistics regarding personnel:
- 57% of organizations view employee retention as a problem. Employees, especially millennials, switch jobs frequently if they aren’t satisfied with the current job role. Some of the proven causes of poor retention is absence of training and arbitrary goal setting.
- Over 1/4th of employees are in a high-retention-risk category, and many are top performers or high potentials and possess critical skills. More than 70% of high-retention-risk employees say they have to leave their organization in order to advance their careers. Source: Towers Watson
- 22% of new hires leave their jobs within 45 days of being hired. Reasons include poor performance and temperament issues. Source: Wynhurst Group
- According to a long-term research conducted at the Middlesex University for Work Based Learning, 74% participants assert that lack of training is the biggest hurdle in achieving their full potential at work. 87% of Millennials stated that professional development and career growth are very important. 76% of employees are looking for career growth opportunities. In fact, employee satisfaction grows with the number of corporate trainings they are exposed to.
- New hires that undergo a structured on-boarding program are 58% more likely to be with the company after three years. Source: Wynhurst Group
- According to the Association for Talent Development (ATD), companies that offer comprehensive training programs have 218% higher income per employee than companies without formalized training. These companies also enjoy a 24% higher profit margin than those who spend less on training.
So how do you solve these problems? Well, the common denominator in these statistics is training and development. Employees are actually telling you they want to train. In fact they have listed that lack of training and development is the main reason they voluntarily choose to leave their current position.
So why online training?
According to a survey done in 2015, 38% of respondents say that they are planning to buy a training management system. Online learning systems and tools, such as training software and E-learning programs come at a close second with 37% respondents voting in its favor. Fast forward to 2019 and we can see these systems and tools everywhere. Online training has transformed learning altogether as most businesses are using the power of the internet to train their employees.
Training stabilizes the staff in a business. It handles staff weaknesses, loyalty amongst staff, increased productivity, aligned goals and so much more. We recently posted another article on management and why it’s so important to train your staff.
The Hubbard Management System is the way to go. It is used in more than 140.000 companies and corporations in over 75 countries and there are over 25 Hubbard Colleges of Administration worldwide. You can find out more about the Hubbard Management System here.
Get started in lowering your personnel turnover, improving personnel productivity, ensuring your personnel are working together in a team, your business expanding greatly and so much more! You can find the EMA subscription plans and courses here.