Why is it important to conduct a Salary Survey now?
One measure that helps organizations retain talent is the investment in employees’ professional development. Many people think that the purpose of employee training is to simply teach the employees the basic skills required for their job. But its benefits are much more far-reaching! It helps make the most of peoples’ potential and improves employee satisfaction!
To understand what our professional network with 12k followers on LinkedIn thinks, we published short polls with key questions about the topic.
In this article, we will analyze and summarize the results on all eight polls.
59% of respondents agree with the statement that they have received clear training and orientation for their current position. Unfortunately, although this result is positive, the percentage is too low to be considered good. It is important to know that regardless of the level of expertise or previous experience, everyone needs an introduction to the environment, processes, and methodology of work in the new company. With this statement we are not looking for information about additional training that the employee has received to develop, but about the basic introductory training in the environment and the team. That is why we believe that 41% of "disagree" people is too high a percentage.
Unfortunately, the answers to one of the most key questions in our series of surveys are not at all positive. 52% of respondents report that their managers do not make an effort to get to know the strengths and weaknesses of their team. These data are worrying because it is the correct distribution of tasks that is the basis of successful work. It is no coincidence that we study different specialties at universities and then do different things. Everyone has their strengths and weaknesses and to be successful in their work they must rely on the areas in which they are good.
We come to the heart of the article - the internal training system. Unfortunately, there is still a perception among employers that if they train and develop their employees, they will eventually go to other companies with their new qualifications. The answers of the voters prove it. Only 51% of the participants confirm that their company has developed such a program. At HRS we have an annual training plan for employees with internal and external training sessions and we notice that current employees not only do not leave, but the interest in the company from potential new employees is growing.
We are glad about the results of this survey because as we mentioned above, we believe that additional training and development of employees is a sure way to keep them in the company. Only 26% of respondents state that they do not have access to additional training materials at work. This means that the remaining 74% have, if not a complete program, then at least videos, articles, or other similar ways to improve their skills and knowledge in a certain direction. This is of great importance not only for the employer, who enjoys a constantly evolving team but also for employees who certainly feel more valued and see development in front of them not only professionally but also educationally.
It is great that 91% of respondents think that they learn a lot about business and the labor market from their current job. This confirms our claim that people look for and stay in a job that develops them. Most people are looking for and thirsty for new knowledge, which is again positive for employers. It is important to work in this direction and to provide an opportunity for the professional growth of valuable staff because in this way they will be able to continue to learn and add value to their work.
87% of the answers confirm that the members of a team have many opportunities to learn from each other. This is important because, as we looked at in one of the above surveys, everyone has different strengths and weaknesses, and that is why everyone is good at what they do. There are no people who know and can do everything equally well, so intelligent people do not miss the opportunity to learn more from a colleague, acquaintance, or friend who has more knowledge in a given field. The fact that the respondents tend to learn from their colleagues and do so, speaks volumes about the successfully built team spirit that underlies the success of any business.
Here are the four top benefits from the additional training of employees:
1. Increased job satisfaction and employee engagement
Opportunities for learning and career growth increase employees’ levels of job satisfaction. Many things contribute to job satisfaction, but it all boils down to people being able to feel good about what they do at work. When employers invest in their training, it shows them that they are valued by their company. It also gives them the tools they need to grow and feel confident at their job! Job satisfaction is closely tied to an employee’s level of engagement. This should not be ignored, as satisfied and engaged employees are more profitable, less likely to miss work and provide better customer service.
2. Increased employee motivation
When you provide learning opportunities, your employees can apply their new skills and take on new challenges at work, which improves their level of enthusiasm for their job.Employee motivation refers to the level of energy, commitment, and creativity that a company's workers bring to their jobs. Like job satisfaction and engagement, motivation has many benefits such as lower turnover and increased productivity.
3. Improved knowledge equals increased profit
The know-how and skills that employees learn through successful training programs translate to tangible benefits like increased sales, fewer accidents, improved processes, and more satisfied customers. All of which positively affect your bottom line. It is proved by an independent survey from 2011 that companies that had comprehensive training programs had 218% higher revenue per employee and 24% higher profit margins! What amazing results contributed only by investment in company training!
4. Increased employee retention
Nowadays, the problem with "bad hires" (understand, employees who leave after about 18 months) is extremely high. People are less and less likely to stay in one company for long, and one method to slow this is to provide adequate learning and development opportunities. Losing employees comes with a big price tag. Employees take their knowledge and productivity with them when they leave, while the company gets stuck with new hiring costs and low morale. When employees are provided with learning opportunities, they see that the company is willing to invest in their success. This is especially true of Generation Y who find opportunities to learn and grow extremely important. In turn, they feel like a valued part of the company, and more empowered to do their jobs. And employees that feel valued and empowered stick around!
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