Regardless of the field or industry, employee retention is a key element of any company’s success. Hiring workers is expensive, and every time one leaves, your business loses money. Additionally, high turnover hurts team morale and can also take a significant toll on overall productivity. As a manager, it is in your best interest to create the kind of workplace where people want to stay.
A recent article in Equipment World magazine explored the ways in which one Ohio-based construction business, Kokosing Construction, has created what they call “a circle of retention.” In fact, the company makes low employee turnover such a priority that all managers are taught and practice a very specific set of policies and guidelines to recruit and keep high-quality workers.
One of the most powerful tools for improving retention rates is comprehensive and ongoingemployee training and opportunities for continuing education. Kokosing Construction Manager Carl Uhinck says that the company has a goal of 40 hours per year of training for every employee in a technical field.
“Many times we exceed that based on what our needs are,” Uhinck told members of the Association of Equipment Management Professionals, in a presentation on the subject. “Its easy to fill up those 40 hours with all the opportunities available.”
Kokosing Construction makes training opportunities available to employees on both an individual and a group basis, to maximize engagement. Kokosing Construction’s story provides a great example of how training benefits an organization’s success.
If you are interested in improving retention at your company, consider providing your team with resources for continuing education and employee development. The good news is that you don’t have to spend a fortune sending workers to expensive offsite classes or bringing instructors to your workplace. Instead, invest in Mastery Technologies‘ remarkably cost-effective, efficient and productive online learning courses. Explore our offerings today!