Gavin Dixon offers his suggestions on how training and evaluation keeps staff happy, motivated and performing their best.
Staff turnover is expected to cost Australian businesses more than $100 billion this year, according to recent research by Unisys.
If that’s not enough to convince business owners to take a greater interest in their employees, perhaps these Australian Bureau of Statistics numbers will:
1.2 million—the number of people who changed jobs in the year to February 2006.
Four years—the average length of employment today, compared with 12 years in 1960.
4.3 percent—the current unemployment rate; the lowest in more than three decades.
Employees are more mobile and motivated than ever which means employers need to work overtime to attract, satisfy and retain employees while labouring to run a profitable business.
Establishing a work-life balance is in vogue but it usually involves more than giving employees more money, flexible work hours or time off to keep them around, particularly for small businesses.
Business owners intent on trimming turnover should not underestimate the value of training and performance evaluation. An educated workforce that actively seeks additional skill development opportunities is a key element in strengthening, and stimulating, employees.
The success of any training program largely depends on how it is implemented. For example, expert trainers can conduct ongoing training. But with costs of up to $4,000 a day, trainers might only be of value if a large portion of employees can participate. The other dilemma for SMEs is coping with employees taking the time out from their day-to-day responsibilities to undertake training.
An increasingly popular alternative, particularly with Generation Y and those in technical positions, online training can take as little as two hours a day, a few days a week and can come with a price tag equal to the cost of attending a day-long off-site training course. It is also attractive because employees can participate in the course at their own speed, at a convenient time, and the material is generally appropriate for others.
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