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Dive Brief:
- Learning opportunities are key to employee retention, especially for women, people of color and millennials, according to the July 5 results of a Conference Board survey.
- In fact, 58% of roughly 1,200 individuals surveyed said they’re more likely to leave an employer if it doesn’t provide education and training to help workers develop new skills, stay up to date on current trends and advance their careers.
- "These survey results reveal that, in the midst of a talent shortage, providing and promoting opportunities for career and skills development can be a critical way to attract candidates," Rebecca Ray, executive vice president of human capital at The Conference Board, said in a press release announcing the results. "In order to retain and grow the diversity of thought and experience within your organization, it is critical to ensure that all employees have access to rich professional development opportunities."
Dive Insight:
The Conference Board’s findings seem to echo what experts and similar surveys have concluded: that development is crucial for employee retention.
Workers responding to an American Staffing Association survey conducted earlier this year, for example, said they placed great emphasis on a company’s training opportunities when evaluating prospective employers. Few, however, said employers were delivering.
While some have predicted a recession that could flip the labor landscape, it remains an employee’s market today. As employers work to hold onto the talent they have, employee development could prove an important piece of the retention puzzle.
