Employee retention is top of mind for companies to compete in today’s job market. Since unemployment remains low at 3.9%, many employers are looking to develop internal training programs to retain workers who seek better career opportunities.
Determining the overall capability gap for employers
Before developing a training program, understanding how the company is functioning as a whole is an important starting point to discover its capability gap. This gap signifies the work an organization needs to accomplish in order to reach its projected goals.
Typical questions that are asked during a capability gap analysis
- What is the current percentage for business growth per year?
- What is the projected percentage for business growth in one year?
- How much would sales need to increase in order to reach this new goal?
- What business improvements would be necessary to achieve this new goal?
Once these numbers are calculated, then improvements can be implemented to increase a company’s capabilities, specifically in the areas of:
- Skills
- Knowledge
- Tools
- Processes
- Behaviors
Employee assessments help to determine how to fill the gaps
These five key areas can also provide training opportunities for employees. Assessments given to workers help to determine their current skills, and identify their best path for career success. Companies who invest in their workforce, also benefit from creating a culture of strong, focused, and excited employees who are eager to learn new skills. Some of the assessments that employers often use are:
- Performance Evaluations - This allows employers to review an employee’s job performance over several months or years to determine their growth in the company
- Peer Reviews - Feedback from coworkers can be helpful for identifying skills, competencies, and interactions with the team that focuses on collaboration
- Self-Assessment - Allows the employee to highlight their experience and additional skills that may be unknown to the manager such as volunteer work
- Behavioral Interview - Gives the employer a chance to learn how an employee responds to situational questions and the results they have achieved
- Skills Test - This test typically gives employees assessments related to their competencies for a particular job or skills such as leadership
- Simulation Exercises - Gives employees an opportunity to demonstrate their problem-solving and communication skills by using role-play scenarios
Types of Learning Methods
After taking various assessments, employers will know the best type of learning programs for their workers to progress in their careers. According to HR.com these methods could include:
Skill-based Learning - A focused training program that is related to specific skills that can be used for larger projects and supervisory positions
Multimodal Learning - Involving different learning methods that can include reading, video, audio, or using interactive games that promote retention
Using the 70:20:10 Framework - Learning framework that is divided into 70% job training, 20% collaboration, and 10% formal training for more hands-on experience
Benefits for employees who receive additional training
Employees often will seek out companies who offer training opportunities as it’s an indication of their commitment to education and career development. Some other benefits for workers are:
- More engagement and satisfaction - Employees that are engaged and excited about going to work generally have more job satisfaction overall
- Higher morale - Workers who have higher morale tend to feel more appreciated, less stress and have better physical and mental health
- Educational opportunities - Employees have the opportunity to earn educational achievements that can result in a credential, certification, or degree that can be used in the future
- Higher salaries and promotional opportunities - Typically additional training and responsibilities lead to higher salaries and promotions
- Feeling more efficient and productive - Using newer processes that help complete tasks faster, helps employees feel more efficient and productive
- Overall a better work environment - When an employee experiences a better work environment, they often feel confident to refer their friends and family to also work there
Benefits for employers after training is implemented
Employers who offer various types of training and career development, often find their return on investment is beneficial in a variety of ways, including:
- More staff retention with less recruiting - Existing employees tend to stay at a company where they can get more training which means less recruiting is necessary
- Customize training gives consistent results - A company can customize their training to help ensure consistent quality and higher customer satisfaction
- Less supervision is necessary - When employees are trained, there is less need for constant supervision, which gives management opportunities to concentrate on high-level tasks
- Helps the company to stay competitive - A company that is consistently training and developing its staff can stay ahead of trends and be more competitive
- Saving money with less waste - Comprehensive training of employees is helpful for reducing mistakes, allowing for less waste and saving money
- Solidifying brand reputation - As career development programs become known, positive brand awareness increases, which solidifies the company’s reputation as an employer of choice