Dec 1, 2017
Employees Are Your Best Asset: Invest in Them Today
The modern workplace
To be the best, you need the best. To create a successful company, whether that be local or global, you need to build a community of people who live and breathe the business. A company’s greatest asset is not its products or services, it’s the brains behind it all: its people.
Investing in employment training and development has never been so important. If you want to keep the best employees you need to give them the best training and opportunities. With the rise of job board and communities like LinkedIn, a new job is just a click away. Recruiters constantly scour people’s professional profiles, looking to scoop up easily swayed employees with greater career opportunities and benefits.
A little investment goes a long way
Employees are no longer just the people behind-the-scenes, they’re walking representatives of the company. Walking down the streets of Surry Hills, Barangaroo or the CBD, you’ll see people sporting company t-shirts on every corner. Employees take pride in their company and the t-shirts become an unofficial uniform, a way to tell strangers not just where they work, but what they represent.
Creating a community of employees who live and breathe the company culture takes much more than splashing money on a one-day Christmas party. It takes time, commitment, training, and opportunities.
According to Deloitte, companies around the world spend more than $130 billion on training and development programs, but still struggle to provide or find modern learning environments. Deloitte’s global survey found only 5 percent of companies believe they have mastered training capabilities and 95 percent are still trying to find better ways to enhance employee education and retention rates.
But, what is the true cost of employee retention?
A company that fails to provide effective leadership and career opportunities, may find itself with a high retention rate, with employees looking for work elsewhere or being poached by recruiters.
Turnover costs of replacing an employee vary from 30–150 percent of their yearly salary, and companies who have multiple team leads, that’s a lot of money. Here’s the breakdown of that cost:
Evolving workplace
Companies want to creating an innovative and evolving workplace, not a revolving door. Failing to invest in employees costs a company more in the long run. Here’s the breakdown of employment investment and training benefits:
Companies have the responsibility of both attracting and creating world class talent. At Academy Xi, we believe companies who invest in their employees education will see the benefits straight away.
For a traditional marketer who takes a Growth Marketing course, new marketing avenues are opened and tools can be implemented into the business the very next day. For a designer who takes the Academy Xi User Experience Design course, the experience of how users interact with their designs can enhance their ability to create designs with real world impact.
Invest in your employees today and reap the benefits tomorrow. For more information check out our range of full and part-time courses at https://academyxi.com/.
