Nowadays, companies use a variety of retention strategies, such as learning and development, in an effort to determine whether or not these strategies produce positive results in terms of retaining employees.
Employee retention is aided by learning (training)
and development programs since untrained workers can't improve their skills and
will not be able to develop into the most effective and efficient versions of
themselves (Srimannarayana, 2016).
According to Ahmad (2013), the
relationship between employee training and retention is indirect, with
commitment serving as a bridge. As
the article progresses, the author explains that employees who place a high
priority on training and development for the sake of their professional
advancement could be more inclined to work for an employer that regularly
provides them with useful, up-to-date knowledge.
In addition, employee commitment and
retention can only be attained by carefully well-planned and needs-basedly
planned training programs (Anvari, Mohamad Amin and Seliman, 2010). Employee
learning (training), as discovered by Kyndt et al. (2009), is a significant
contributor to the formation of turnover intentions and has the capacity to
alter employees' turnover-related ideas. As a result, well-trained and
developed employees who are committed to the company goals display lower
turnover rates.
Moreover, as a consequence of the
interpersonal connection formed between the employer and the employee due to
the offering of quality learning and development programs, a strong social bond
is also formed between the organization and employees, thereby increasing the
likelihood that the employees will remain with the company for the long term
(Dysvik and Kuvaas, 2008).
For instance, the banking industry, as a
knowledge-based service sector, usually necessitates specific training and a
much broader variety of competence (Armenta, 2007). Therefore, learning and
development techniques are crucial to becoming familiar and knowledgeable with
banking or financial laws and regulations, interviewing clients, and
negotiating trade agreements using sales strategies (McNaughton,
1992).
Likewise, the tangible and intangible
results of learning and development include increased productivity, improved
product and service quality, enhanced use of available resources, increased
employee morale and job satisfaction, satisfied subordinates, staff
competencies, technical expertise and skillful training and development (Nguyen
and Duong, 2021). Hence, provision of an appreciative learning environment in
the organization will enable employees to retain in that particular
organization.
Strategically, an organization can foster an appreciative learning environment by highlighting employees' skills and providing opportunities for them to use their strengths; allowing employees to do and learn more of what they are good at will keep them from leaving the company (Govaerts et al., 2011).
References
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Good post Nirosha regarding employee Retention and need adding furthermore, Employee turnover affects organization performance, and profitability and organizations must understand why employees stay or leave organizations. Several factors contribute to the retention of employees. The factors include communication, reward program, career development and performance-based bonus (Sandya and Kumar, 2011).
ReplyDeleteI agree with you Malshani. And also according to Dibble (1999) employee retention starts with orientation. Dibble identifies key components employers need to provide employees, so they chose to remain with the organization. The employee’s acceptance of the organization’s vision, mission, values, and policies come by way of effective leadership communication.
DeleteI agree with your content and i would like to add that Learning and Development is a part of an organization’s talent management strategy and is designed to match an individual's goals and performance with an organization’s general vision and goals. It bridges the skill gaps among the employees and teams by developing and delivering training (John,2021).
ReplyDeleteThanks for your input Joel, Further When a company appreciates the work and abilities of its employees, they feel valued. Career development should have a direct correlation with increased production, higher wages, fair pay and benefits. “Expose people early and often to the training they will need to become successful leaders” says Andi Gray (2014).
DeleteWell explained blog post Nirosha. I would like to highlight the fact that, human resource development practices need to consciously turn around issues that not only enhance job security but make the employee satisfied on the job with increased job security and satisfaction (Barrows & Wesson, 2000). This derives from the fact that the best asset in an organization are the people, and not just people, skilled and competent people who need to be managed effectively to ensure job satisfaction and retention.
ReplyDeleteThanks for your input Nilusha. Yes, I agree with your comment. And also, job satisfaction is a goal of employment and a crucial component of employee retention, and it is only achieved by providing the employee with a physically and psychologically appropriate work environment. The market economy's inflationary trends are increasing competition in the job market. Keeping employees on board is increasingly challenging as the talent pool becomes more exhausted. A capable employer should be able to hire and retain staff (Qadria Alkandari, 2009).
DeleteGood findings Nirosha. Furthermore, regarding employee retention, Gberevbie (2008) has stated that employee retention strategies refer to the plans and means, and a set of decision-making behavior put formulated by organizations to retain their competent workforce for performance.
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DeleteYes Kandeepan, as explained by Gorde (2019) that employee retention is not just a matter that can be dealt with records and reports. It purely depends upon how the employers understand the various concerns of the employees and how they help them resolve their problem, when they are in need. Every organization spends time and invests money in grooming new employees and makes them corporate-ready. The organization will be in complete loss if such employees quit after they are fully trained.
Furthermore, Training and development are processes that invest in people so that they are prepared to perform well. They are part of an overall human resource management approach that, ideally, results in people being motivated to perform (McDowall & Saunders 2010) (Oluwaseun, 2018)
ReplyDeleteElrehail et al. , (2019) revealed that human resource practices significantly affected competitive advantage. Hence, employees are a valuable asset because they directly impact profits, such as building or destroying their reputation (Elnaga & Imran, 2013). Positive employee performance will lead to success; on the other hand, low employee performance will lead to failure. According to Armstrong (2009), understanding employees' job happiness and performance were critical to the organizations' success.
ReplyDeleteAs highlighted by Aguinis (2013) Implementing an ideal performance management system would be convenient to retain top talents as if talented employees are not rewarded and recognized over time they will leave the company.
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