L&D’s role in keeping up with top talent in 2022
The last two years have seen massive time and monetary losses for many organisations across the globe due to pandemics. However, things worsen when most skilful talents start to quit their job. In the United States, a record of 4.4 million people, or 3% of the workforce, resigned their job in 2019, and the numbers increased were more than 19 million US workers have quit their job since April 2021, as reported by Mckinsey & Company.
The same case is happening in Malaysia where research done by Employment Hero, Malaysia’s Covid-19 economic recovery has triggered a nationwide employee movement- showing that 61% of Malaysian workers plan to find a new job in 2022 (Dina, 2021). This statistic pace indeed disrupts organisations everywhere because employee retention is one of the biggest threats to business throughout the country. At this vital post-pandemic recovery stage,
losing top talent is not preferred by most companies because replacing an employee will carry high costs such as time and money to replace the employee, lost expertise and company knowledge, reduced productivity and many more.
One way to improve employee retention is to improve employee engagement and satisfaction through employee growth and professional development initiatives. Linkedin’s Learning Report 2020 revealed that 94% of employees would stay at a company longer if it invested in their career. In addition, The Global Energy Talent Index (GETI2021) also shows that the most meaningful way to build resilience amidst the talent crisis is through training and development. We can see that providing a proper training, learning and development programme can demonstrate that the company values them. In addition, the upskilling and reskilling programme will make the employee feel appreciated, engaged, motivated, stay and grow together.
What matters the most is developing and delivering effective training to these talents? Here, we share with you the 3 essential elements needed in developing the right training programme to boost employee retention and loyalty.
1. Develop customized training based on what employee needs.
One size fits all approach will be ineffective in this case. Developing a training programme must be tailored according to the employee's needs and their goal in the company. Therefore, it is essential to understand what types of training they need. Training Need Analysis (TNA) might be practical to help L&D professionals
and employees develop the skills they are interested in. It will help fill the gap by identifying the types of training required for employees. However, the TNA process might be tedious and complicated as it is time-consuming, and complex based on the industry but worry not. We at TTI can help you. Feel free to contact us to get a Customised Solutions programme for your team.
2. Get a good trainer
In training, trainers are agents of change. Trainers encourage and promote a change in their lives and the lives of others- their learners. Excellent trainers often know how to inspire their participants to perform at their best by engaging and conveying information. Research has shown that when the employees are satisfied with the delivery and outcome of the training programme, it will affect
their intention of turnover and increase job performance (Huang, 2019). So, companies must ensure that they appoint suitable trainers with high skills such as a high level of expertise, excellent communication skills, in-depth knowledge level, interpersonal skills, flexibility and experience to develop and deliver an effective training programme. Even though the qualities of good trainers can make all the difference, it might be a little bit costly for you to hire them. Here we are glad to inform you that TTI has specific programmes under Trainers and Facilitators Academy to upskill trainers and facilitators if you like to grow your talent with these skills.
3. Use Learning Management System (LMS)
When Udemy’s 2021 Workplace Learning Trends report disclosed that “lack of time was the biggest barrier to learning”, with 61% who responded agreeing with it in their top three hurdles, we know that is the right time for a company to emphasise learning through LMS. LMS saves time, money, consistency and organised. It provides a company with the right tools, features, and support to
effectively manage and deliver company training programmes. Employees can learn at their own pace, access the content anytime they want and prioritise their workload. LMS will provide better engagement, reduce turnover, and improve employee retention with this flexibility. You may want to consider this LMS supplied by our Learning Digitalisation team.
