When you finance employee training, you must get the return that your business deserves. Reducing trainee retention rates is how you protect your finances and ensure an ROI from the finance you invest in training. Here is how to ensure your trainees stay on board with the company.
1. Clear Expectations
You must outline clear expectations to keep trainees on board with your business. Many new hires report dissatisfaction with their position because they feel unsupported by a lack of clear guidelines. According to Zippia, comprehensive training programs with clear guidelines enjoy a 218% higher income from each employee.
During onboarding and training, provide clear expectations of the position. During the early stages of employment, ensure trainees are encouraged to ask questions if they are unsure of a policy or process. Ensuring everyone is on the same page will help retain trainees.
2. Reward Achievement
When you finance training, you are making an investment. However, you are not the only one that is making an investment. The trainees are investing their time. Rewarding that time investment and recognizing achievement can build loyalty among your trainees.
Employees recognized for achievement are likelier to stay in their position. Starting a recognition program early on during training can encourage qualified people to stick it out with your business. According to Gitnux, corporate gifting can result in a 37% higher retention rate. Use the same theory and give it to your trainees. A small token of recognition can be as simple as an hour-off reward to be used at the trainee’s discretion.
3. Create a Work-Life Balance
Creating an environment where work-life balance is a priority for trainees can help reduce attrition rates. Of course, you want to get the most bang for your buck from your employees, but not focusing on a work-life balance can backfire. A recent study found that today’s highly qualified employee candidates listed work-life balance at the top of their list of things they want for a position.
You finance training, but that financial investment doesn’t mean trainees will sacrifice balance in their lives. Create an environment where employees are encouraged to take breaks when needed, and that has time to fulfill family obligations. Taking care of your employees is an easy way to reduce attrition rates.
4. Determine Career Paths
One of the main reasons trainees will jump ship is because they don’t see a way forward with the business. You must outline a clear career path forward for trainees. How can they climb the ladder with your business to move on to bigger and better positions?
Of course, new trainees are excited about starting their positions, but they also need to know that there will be bigger and better opportunities down the road. They want to know that their time investment will pay off the same way you want the training you finance to pay off. Setting up a clear career path for new hires will help keep them moving forward with your business.
5. Pair New Hires With Mentors
Assigning mentors by matching up experienced employees with trainees can work to your advantage. A mentor can provide guidance, share experiences, and give a trainee the support they need. A mentor can help an employee stay on track.
Mentorship delivers many benefits. It may help to promote loyalty to the business. It can also help to ease the trainee into the position they are best suited to. Mentorship programs can help reduce attrition rates.
According to the American Staffing Association, about 73% of staff employees work full-time, and about 75% of the workforce work full-time. Staffing agencies often invest a great deal of finance in training and offer perks that allow candidates to have the work-life balance they need. You can follow suit and keep your trainees on board long after the training has ended!