Newsletter Article
Member Benefit
Published Fri Oct 06 2023
Employee turnover is a significant challenge for businesses, costing more than $700 billion in 2021. To retain skilled employees and ensure business success, leaders should focus on optimizing their continuous training programs in three key areas. The first is technical certification. Leaders need to ensure that all employees are technically certified in their relevant areas of responsibility. Ongoing certification is crucial as industries evolve with new technologies. Staying up to date gives employees confidence and helps maintain a competitive edge. The second key area centers soft skills. Technical expertise alone is insufficient. Soft skills, like communication, leadership, teamwork, emotional intelligence, and problem solving, are vital for success. These skills can be developed through ongoing training and tailored to each employee’s needs. Finally, the third area recognizes the importance of investing in niche skills that provide a unique advantage to outshine competitors. For instance, training employees in emerging technologies, like generative AI, or staying updated with industry-specific research can boost productivity and efficiency. Regularly assess your training programs to identify any shortcomings and make necessary adjustments. Prioritizing employee development fosters engagement and loyalty and ultimately leads to business success.
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