We have previously discussed on this blog how continuing education can dramatically improve staff retention rates, which ultimately bolsters your bottom line. Employee development initiatives help workers reach their goals, while also advancing the interests of the larger company. On the flip side of the coin, a lack of such opportunities can lead to high dissatisfaction levels and turnover rates. One recent study found that as many as one in three American employees feel disappointed in the opportunities they have in the workplace to build their skill sets.
Some businesses go so far as to hire in-house career counselors to offer support on issues ranging from landing a promotion to quitting smoking. Chief Executive Officer and founder of Auction Systems Deb Weidenhamer tells Fast Company that her team’s full-time business coach has helped them make huge strides.
“I think it’s probably one of the biggest differentiators for us when we’re hiring into our company as to why candidates accept the position,” Weidenhamer tells the source. “I think they get really excited about the prospect of having someone help them move toward being better. It also pays off in terms of retention. It’s something that most people aren’t going to get when they go to a new company.”
Most companies do not have room in their budgets for a full-time, in-house career coach, and nor should they! The good news is you can achieve similar benefits simply by investing in cost-effective, efficient online training courses from Mastery Technologies. By providing your employees with these learning resources in a group setting, you can promote a sense of camaraderie and accountability, as they strive to improve and build their skills. This, in turn, improves worker engagement and morale.