Key Takeaways:
- 92% of employees consider training a deal breaker when choosing between potential employers.
- Lack of personal or professional development opportunities is a significant factor in employee turnover.
- Frequent L&D opportunities are essential for retaining and nurturing talent in the long term.
London, UK, 25th April 2023: The Great Resignation, also known as the Great Reshuffle, has caused a major societal shift in personal and professional priorities post-pandemic. Employees are now prioritizing learning and development opportunities, which has led to the emergence of a new trend: The Great Upskill. A recent survey by e-learning solutions platform imc found that 92% of employees consider training a deal breaker when choosing between two potential employers.
The Importance of Upskilling
Aside from expecting flexibility, employees now want to work for employers that help them enrich their working experience through upskilling, training, personal and professional development, and by creating engaging career paths for the short, medium, and long term. They want to achieve more, know more, and generally be more engaged with the work they are doing.
The imc survey found that 52% of employees had left a role due to a lack of personal or professional development opportunities. Interestingly, 48% of employees have not received training in the last 12 months. The importance of creating pathways early for talent, and following through with them, can reduce overall staff turnover, keep employees engaged, and help to nurture and retain talent in the long term.
Upskilling Opportunities for Managers
The trend isn’t only affecting junior team members. Among managers, 22% now say they do not receive enough training in their current role. This finding chimes with the Great Resignation trend of an average of 20% of the workforce looking for new roles in 2022. In fact, 78% of managers would remain with their current employer for longer if they were offered frequent L&D opportunities. A clear development pathway is, therefore, key to retaining and nurturing senior team members – and now essential amid recent talent scarcity concerns.
Impact of L&D on Business Bottom Line
While economic conditions may influence some businesses to tighten their belts, the rise in demand for well-rounded and tailored training opportunities across all levels doesn’t come at the expense of business interests. In fact, 81% of managers report a positive impact from training on their business bottom line.
Conclusion
The Great Resignation has led to a shift in priorities for employees, with learning and development opportunities now a top consideration when choosing potential employers. Employers need to recognize this shift and invest in upskilling opportunities for their employees, from junior team members to senior executives. By doing so, they can retain and nurture talent in the long term and positively impact their business bottom line.
Website: https://www.im-c.com/
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