Area9 Lyceum Blog

How to Reduce Employee Turnover & Its Costs for Your Business

Posted by Area9 on May 21, 2018 9:00:00 AM
Area9

Employees who do not feel they can achieve their career goals at their current employer are 12 times more likely to consider leaving, according to IBM.

Meanwhile, training and retaining a current employee is always cheaper than hiring a new one; hiring someone new can cost your business up to 30% of the job’s salary.

While there’s more than one reason for high employee turnover, the solution to decreasing churn starts with learning and development.

How to Reduce Employee Turnover: Adaptive Learning

To provide better training - training that helps employees feel like they can achieve their career goals - you need training that provides these two things:

  1. Higher Engagement: E-Learning set out to improve employee engagement by letting learners take training where they want, when they want. Because e-learning aimed to teach at scale, it used a “one-size-fits-all” approach. But the result is that e-learning is often seen as a “check the box” exercise, where learners go through the motions but rarely actually learn anything. And one-size-fits-all turned out to be one-size-fits-none.

    Adaptive Learning succeeds where other e-learning fails.

    By personalizing to the needs of individual learners, Adaptive Learning allows employees to learn their own way and provides e-learning at scale for your business. It’s e-learning that’s actually engaging.

  2. nullContinual Learning Experience: Corporate learning is not a one-time event. It’s a continual experience. For employees to feel like they can reach their career goals they need to be able to invest in their learning and development. Especially Millennials who, as well as taking over the workforce right now, expect to learn continually; 35% of Millennials saw continual learning as a top benefit from an employer, according to a PwC study on the cohort. Providing training that happens once a year or only after an incident or mistake has occurred doesn’t prove to your employees that your business is making an investment in their learning.

The personalization of Adaptive Learning creates a learning experience that employees want. Instead of focusing on a pass-fail metric of success like other e-learning methods, Adaptive Learning focuses on learner mastery of the learning content to drive true understanding.

Now you know how to reduce employee turnover: adopt Adaptive Learning as your corporate learning system. Download this checklist to find out more about other pain points Adaptive Learning can solve for you.

Fix Any Training Pain Point

References:

https://www-03.ibm.com/services/learning/pdfs/IBMTraining-TheValueofTraining.pdf; https://www.shiftelearning.com/blog/the-true-cost-of-not-providing-employee-training; https://www.pwc.de/de/prozessoptimierung/assets/millennials-at-work-2011.pdf

Topics: Corporate E-Learning