Here is a follow up to the previous post. ‘Career Path’ Programs Help Retain Employees discusses efforts by companies to retain workers. Some strong points:
Most career-path programs outline promotion possibilities and offer training in required skills. Some employers also offer career-planning sessions. Leigh Branham, a human-resource consultant and author of “The Seven Hidden Reasons Employees Leave,” says training is particularly appealing to younger workers, who are more likely to jump ship.
A real-world application:
Each new hire requires 158 hours of training, at a cost of roughly $7,000, according to Purdue. So keeping workers even a little longer can mean big savings. At Huntington Bancshares, 75% of the call-center agents who leave their post stay with the company, up from 40% before the program started two years ago.
Often companies will go to great extremes to find the right employee for their company. Many are lost soon afterwards simply because there is no path to growth in their role of their skills. Don’t ignore this important aspect of employee management.