Professional development is critical for employee retention. Our research found that it's one of the top reasons people leave their companies. We also discovered that only 25% of employees feel like they have professional growth opportunities. That could also mean 75% of your workforce is halfway out the door.
To dig even further, we looked into the cause of this sentiment. When we broke down why 75% of all employees see lackluster opportunities, we found the three main factors:
It turns out that employees want to feel challenged and try new things, but they're not given the chance to tackle new projects and show their full potential. That, coupled with no one internally having conversations about growth and potential, makes employees feel stifled. So what can you do to help them?
01. Have a conversation
Find out what your employee's dreams and goals are. Find out what projects they want to tackle next. Find out what skills they'd like to learn. As a manager, you need to make sure your employees are meeting their full potential and that the job they're at now will benefit their future endeavors. But you can't elicit information if you don't ask.
02. Offer educational assistance
One way that TINYpulse fosters a work culture of lifelong learning is offering an educational assistance program. Employees can apply for an in-house scholarship that will cover a course, certificate program, conference, books, you name it.
The intention is, when an employee gains new skills, it's beneficial for the company as well. They can apply what they've learned to their current job or even towards a promotion. And when the company continues to nurture their growth, those greener pastures start becoming dried-up meadows.
03. Give them something new to work on
There's never a lack of new projects in the workplace. If there is, throw together a hack day where employees work on pet projects. Taking out routine work and allowing employees to tackle pet projects will help break up any monotony of their day-to-day tasks.
It's critical to ensure you have an open conversation with your employee to find out if they're feeling stifled or if they're growing. Because when you have a star employee on deck, you want to do everything you can to make sure they don't jump ship.