Post by account_disabled on Feb 28, 2024 6:24:36 GMT -5
Digital badges and credentials shared on social media enable savvy employers to offer currency that younger employees value. Millennials famously eschew the corporate perks that cultivated loyalty among their predecessors but they clamor for education as a benefit. As it turns out education and retention dont have to be mutually exclusive and smart companies are doubling down on nextgen training and educational benefits. Heres why Education costs less than attrition Millennial turnover costs U.S. companies more than . billion annually. According to a recent study employers spend months of an employees salary to recruit hire and train his or her replacement which means replacing someone salaried at will cost the company as much as . Contrast the cost of finding a replacement with the falling costs of online degrees around coding bootcamp credentials or certifications like the poor mans MBA which costs just
The and can boost salaries by . The rate of churn is increasing the federal quits rate rose between and . Today nearly a quarter of employees million in quit their job every year though this Japan Mobile Number List rate is up to higher in some sectors. The high cost of recruiting and retraining replacements means that decreasing the rate of turnover even marginally can have a significant positive impact. An analysis with financial services firm Discover Financial found . in savings for every dollar spent on education assistance for call center employees in part due to the decrease in turnover. Portability transparency retention Virgin Group founder Richard Branson put it this way Train people well enough so they can leave treat them well enough so they dont want to.
The idea of giving employees credentials with external value to keep them around may sound counterintuitive but were beginning to see that the right types of credentials can have just that effect. As credentials make the move from office walls to social networks they serve as powerful tools for validation allowing people to showcase what theyve learned and take pride in the skills theyve developed. Digital credentials provide an opportunity for companies to create greater employee engagement by delineating learning pathways and showcasing demonstrated skills and abilities which workers tend to view as a perk rather than a ticket to the next job.
The and can boost salaries by . The rate of churn is increasing the federal quits rate rose between and . Today nearly a quarter of employees million in quit their job every year though this Japan Mobile Number List rate is up to higher in some sectors. The high cost of recruiting and retraining replacements means that decreasing the rate of turnover even marginally can have a significant positive impact. An analysis with financial services firm Discover Financial found . in savings for every dollar spent on education assistance for call center employees in part due to the decrease in turnover. Portability transparency retention Virgin Group founder Richard Branson put it this way Train people well enough so they can leave treat them well enough so they dont want to.
The idea of giving employees credentials with external value to keep them around may sound counterintuitive but were beginning to see that the right types of credentials can have just that effect. As credentials make the move from office walls to social networks they serve as powerful tools for validation allowing people to showcase what theyve learned and take pride in the skills theyve developed. Digital credentials provide an opportunity for companies to create greater employee engagement by delineating learning pathways and showcasing demonstrated skills and abilities which workers tend to view as a perk rather than a ticket to the next job.