Organizations can take steps to limit employee turnover after training
HR professionals sometimes find that investing in employee training can feel like a double-edged sword. On one hand, equipping employees with the right tools and knowledge from the start can help instill these workers with confidence as they refine their expertise. On the other hand, The Wall Street Journal has found that it’s not uncommon for employees to go through training only to find a new job elsewhere shortly after being hired.
According to LinkedIn, studies have shown that rapid turnover can end up costing a company up to twice the employee’s projected annual salary. In this light, money invested into training is almost always well spent. Still, HR professionals can and should minimize instances of quick employee turnover. The following talent management strategies provide organizations with tools for enhancing their training process and limiting rapid turnover by recently hired employees.
Recognition goes beyond monetary rewards
Most new hires won’t shirk opportunities to make more money or earn a cash reward for a job well done, but depending on pecuniary motivators exclusively won’t make the same impact on every trainee. In fact, some workers are willing to take a lower starting salary if it means the job comes with extra perks, like the ability to work remotely or attend weekly social events. Employees that find a natural balance between work and life in the office will be less likely to put their peace of mind at risk. As a result, trainees are less likely to skip out on the company after training if fringe benefits at the office help them manage their wallet or stress level.
Sympathetic supervisors can catch and address red flags
Disengaged bosses and excessive micromanagers can both turn off new employees and encourage them to find a different position shortly after being hired. Conversely, managers that strike a balance and build real relationships with their subordinates can become a major motivator for employees to stick it out after training. Likewise, employees that are naturally skilled at interpersonal development serve as a built-in buffer against the desire to cut and run from a new job.
Gallup noted that companies may need to reorganize their training process to ensure that new employees regularly interact with the most interpersonally talented members of the staff. Offering a warm and welcoming environment will go a long way toward keeping employees loyal and local.
“Millennial employees are attracted to the idea of moving.”
Growth and travel opportunities encourage hires to dig in their heels
Good things come to those who wait. How long a new employee is willing to wait, however, depends entirely on the good things headed their way. Thankfully, organizations can leverage this maxim to minimize turnover after training.
Millennial employees are especially attracted to the idea of moving their lives to a different country and surrounding themselves with new experiences. Companies willing to make their talent assets mobile will also find that their retention rates improve. Employees will be willing to put in their time if they know from the start that compensated travel opportunities are waiting just around the corner. Some employees may be more open to a permanent relocation while others will prioritize short-term excursions. Regardless of what an organization has to offer in terms of travel and chances to relocate, communicating these opportunities early on in the training process will help prevent newly hired employees from fantasizing about rival career moves.
Ongoing education helps to limit wandering eyes
Not all employees demand plane tickets and perks to stay loyal. Those who simply desire to improve their skills, add experience to their resume and expand their knowledge base will look to ongoing education as the make or break factor when deciding whether to chase new job opportunities shortly after being hired. Companies that deal with expertise-driven roles will have an easier time managing this problem as they are able to engage qualified employees by training them on new areas of the business.
In some cases, companies may need to create a new position and career path to retain talented employees. Considering the revenue and morale at risk when employee turnover is out of control, organizations that are proactive about creating new career paths for employees will find themselves ahead of the game.