There simply aren’t enough qualified candidates to go around, and HR professionals are getting more strategic about how they approach recruitment and employee retention. However, organizations can get so caught up in the “here and now” that they often overlook longer term strategies that can have a significant impact.
An employee learning and development program can help organizations win top talent for their team, retain the talent they’ve worked so hard to recruit, and maintain a healthy pipeline of internal candidates for future hiring needs.
Win Top Talent for Your Team
LinkedIn found that 59% of people joined a new company because of a stronger career path and more opportunity. An employee learning and development program is a great way to show your candidates that they will have opportunities for growth in your organization.
If you have an employee learning and development program, make sure you’re promoting it in your job descriptions, on your career website, and through your direct hire agencies. Show candidates examples of career progression within your organization, and how you help each employee reach their career goals. In addition to attracting top talent, you will also attract high potential talent which you can then groom into the talent you need.
Retain the Talent You’ve Worked So Hard To Recruit
Richard Branson said, “Train people well enough so they can leave, treat them well enough so they don’t want to.” Employee learning and development programs help you train the best talent on the market. This increases employee retention because employees feel more engaged and loyal to organizations that invest in them.
Furthermore, employees who feel challenged, and confident in their future with your organization, will be more likely to stay longer. Top talent rose to the top by learning and growing – and your organization should help them continue to do so if you want to retain them.
Maintain a Healthy Pipeline of Internal Candidates for Future Hiring Needs
LinkedIn’s Why and How People Change Jobs found that 45% of people leave their company because they are concerned about the lack of opportunities for advancement. Formal succession planning, coupled with an employee learning and development program, can help you create clear career paths for each employee so you can both plan for the future.
An employee learning and development program allows your employees to learn the skills and leadership qualities necessary to advance within your organization. Internal candidates already understand your company, industry and customers, and are already screened for culture fit – which can help you fill positions with qualified talent faster than if you only considered external candidates. While other organizations are struggling with a talent shortage, you will have a strong pipeline of internal candidates for your future openings.
Does your company offer an employee learning and development program? If so, what benefits have you seen as a result?