3 Reasons Why Training New Hires Leads to Company Success
Turnover is scary. It’s a constant threat, and it’s too expensive to be ignored: “Work Institute estimates that 42 million, or one in four, employees [left] their jobs in 2018, and that nearly 77 percent, or three-fourths, of that turnover could [have been] prevented by employers. Employers [paid] $600 billion in turnover costs in 2018 and can expect that number to increase to $680 billion by 2020.”
We know people don’t want to leave their jobs. What they do want is to know that their organization invests in their growth—in fact, a 2018 survey of 25,000 employees globally found that one of the top five reasons people quit their jobs is because of a lack of development opportunities. Your organization can avoid that costly turnover by strategically developing new hires.
1. Holistic development ensures your employees will be better at their jobs.
This is just simple: new employees who are well-trained will be ready to hit the ground running. Similarly, offering continuous development opportunities means those employees will regularly update their skill sets and stay on top of new needs or trends.
While many companies focus their new-hire training around the technical skills necessary to do the job, it’s also important to offer training on soft skills like communication, in-person and virtual presence, and emotional intelligence. These are the skills that keep your teams running like well-oiled machines—when people know how to communicate (both verbally and in writing) in a strategic, clear, appropriate way, businesses function smoothly.
2. Making growth part of your culture will spur organization-wide innovation.
Employees who are happy, engaged, and have faith in their companies are better employees. Furthermore, when your teams feel safe in their roles and confident in themselves and their teammates, the outcome is innovation. You’ll see teams who know how to work together, streamline processes, and maintain seamless relationships with leadership and clients.
Your organizational culture is another crucial reason you could be losing employees—it’s not an area to skimp or cut corners. Invest what you can to make your company one where learning, sharing, and growing are main focuses.
3. Well-rounded team members become good leaders.
Your new hires will eventually become your leaders. You want them to be well-rounded—that means having the right blend of hard (technical) and soft (emotional intelligence) skills. Working with your new hires to create a learning journey that’s specific to their needs means you’ll follow them along their career path, praising their growth and correcting what needs correction. The result will be leaders in tune with not only their own trouble areas, but also what it takes to get to the top—and how to help their new hires get there, too.
If your organization is struggling with retention or employee development, Ariel can help. Contact us today to learn more.