A survey conducted by Instructure found that 70% of American employees are somewhat likely to leave their jobs to transfer to another company known for providing employee learning and development.
This is both a challenge and an opportunity for small business owners. While they have limited resources to provide learning and development opportunities, they can be creative in terms of giving social incentives, benefits, work scheduling and salary. Today’s employees also look for a work/life balance.
The findings revealed that while 98% of employers say they provide career development tools, only 26% of employees are satisfied and 74% are not. Sixty-nine percent of employers feel that career growth is extremely important for employee retention, but only 34% of employees left their jobs for career development opportunities.
In terms of using talent management tools, 98% of employers are already offering them but 27% still want to invest in them. To help businesses provide the appropriate employee growth and development opportunities, Instructure has developed the Bridge Employee Development Platform. Under this platform, employees receive coaching, performance feedback, productive onboarding and long-term career plans while employers will be able to identify the career drivers of their employees. These combined tools can help employers improve job fulfilment, alignment to business performance and employee retention.