I recently stumbled across a Harvard Business Review article titled “Why Top Young Managers Are in a Nonstop Job Hunt” discussing why employees are exiting organizations. The article noted that many top performing employees are not receiving the training and career development they want in order to help them grow their skillsets, causing them to look for other employers that provide such support. The article stated:
“Dissatisfaction with some employee-development efforts appears to fuel many early exits. We asked young managers what their employers do to help them grow in their jobs and what they’d like their employers to do, and found some large gaps. Workers reported that companies generally satisfy their needs for on-the-job development and that they value these opportunities, which include high-visibility positions and significant increases in responsibility. But they’re not getting much in the way of formal development, such as training, mentoring and coaching – things they also value highly.”
Losing a key employee or even multiple employees can be devastating to the achievement of strategic
Employee training and development is an investment—an investment in your people and an investment in your bottom line. While there is cost associated with training and development, the benefits gained from it outweigh the hard costs.
So what has been your organization’s perspective of employee training and development? Has it been one of value or has it been one of cost? Either way you flip the coin, there is a cost of not providing employee training and development. While you think you may be saving money by striking it from your budget, you may just find you doubled or even tripled your cost by losing top performing employees.