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{"id":2589,"date":"2020-03-26T04:00:00","date_gmt":"2020-03-26T05:00:00","guid":{"rendered":"https:\/\/proactivetraining.com.au\/news\/2020\/03\/26\/leverage-learning-to-reduce-turnover-risk\/"},"modified":"2020-03-26T07:46:56","modified_gmt":"2020-03-26T07:46:56","slug":"leverage-learning-to-reduce-turnover-risk","status":"publish","type":"post","link":"https:\/\/proactivetraining.com.au\/news\/2020\/03\/26\/leverage-learning-to-reduce-turnover-risk\/","title":{"rendered":"Leverage Learning to Reduce Turnover Risk"},"content":{"rendered":"
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Companies having success with mitigating turnover have a different approach to learning overall. They are far more likely to include feedback from learners and more likely to align strategy with learner objectives.<\/div>\n<\/div>\n<\/div>\n
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Article Author: <\/div>\n
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David Wentworth, Principal Learning Analyst, Brandon Hall Group<\/div>\n<\/div>\n<\/div>\n
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\n\tOrganizations in industries with higher-than-average turnover rates face a constant battle: How can they quickly get new employees up to speed and retain current employees? Instead of simply accepting high turnover as a routine part of business, Learning and Development (L&D) can have a huge impact on mitigating the risks associated with a rapidly-shifting workforce.<\/p>\n

\n\tThough many organizations are challenged by high turnover, we see it most often in industries such as construction, manufacturing, health care, hospitality, food and beverage, and retail. Location and scale do not insulate these organizations, either. High-turnover companies range in size from hundreds of employees to tens of thousands, and they can have any type of geographic footprint.<\/p>\n

\n\tThe biggest training challenge is the sheer speed with which the learning must engage and impact learners. If you expand that across a large organization with a global presence, the challenge becomes that much greater, but that is not all that is at stake.<\/p>\n

\n\tWhether the turnover rates are due to voluntary or involuntary departures, the result is often the same—a need for new workers to be running at optimum productivity quickly. High turnover also puts pressure on retaining people once they are up to speed.<\/p>\n

\n\tDamages<\/strong><\/p>\n

\n\tGetting this wrong can damage any organization. The costs of hiring and rehiring far outpace those of training and developing successful employees—in addition to the sunk cost of training that was provided and walked out the door with departing workers. <\/p>\n

\n\tHigh turnover also has a huge impact on consistency and the organization’s ability to deliver the same level of customer experience over time and across geographies. If we look at the retail industry in particular, market demands are constantly shifting, so companies need to stay ahead. It can be difficult for traditional learning content, methods, and modalities to keep up. Learning must be more iterative and adaptive to meet the unique needs of the changing market and workforce.<\/p>\n

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\n\tWhen we look at companies in these high-turnover industries that say their learning approach has a positive impact on their turnover rates, we see that they are far more likely to use modern learning approaches more often than their counterparts who are unable to impact turnover rates.<\/p>\n

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\n\tBrandon Hall Group, Learner Experience Study, 2019<\/em><\/p>\n

\n\t5 Essential Issues to Consider<\/strong><\/p>\n