These Quits come at a real cost to companies: According to Gallup, the cost of replacing an employee can range from one half to two times the employee’s annual salary. In the tech world, with an often-frenetic pace of change and innovation, the loss of a tenured employee can be catastrophic to team productivity and morale.
So, what does the Great Resignation have to do with training? At first thought, you may think that slashing training budgets is a tough choice but solid approach, especially if you can redirect the funds to obvious areas like recruiting or bonuses. Furthermore, employers often worry that training employees on coveted skills, like ServiceNow administration, implementation, and development, will lead these employers to seek jobs elsewhere in the competitive market.
But in fact, thoughtful employee training programs are demonstrated to increase employee loyalty and tenure. In a 2018 LinkedIn Learning study, a whopping 94% of employees said that they would stay longer at a company that invested in their career development. And, in case you’re wondering if that holds true in pandemic times, we saw similar trends as recently as August 2021 when it comes to ServiceNow certifications. Certified ServiceNow individuals stay in their role an average of 25% longer than their uncertified peers, which translates to a full year longer for ServiceNow Certified Developers.
With the amount of on-demand training proliferating, providing training opportunities for your employees has never been easier or more cost-effective. But it’s critical to remember that the Great Resignation likely has its roots in workers’ desires for better, more fulfilling work with real growth opportunities. This means that employers should not only fund training opportunities, but they should also carve out time for employees to take training and practice what they’ve learned as part of their normal work time. At a macro-level, organizations should create a culture where learning, development, and growth are celebrated, and not disregarded or even feared.
Arguably, any employee perks that humanize employees and increase retention are great for business. But robust talent development programs are a win-win for employees and their companies. Looking at ServiceNow training programs resulting in certifications, for example, we see that certified individuals are more productive, more influential, and more likely to use best practices in their implementations.
What do you think are contributing factors to resignations in Tech? How is your company leveraging training opportunities to combat this trend? Comment below and reach out to Training@ServiceNow.com for questions about ServiceNow training and certification programs.
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The Ask a Training Expert blog is published monthly by members of the ServiceNow Training Solution Consulting team. For more information about ServiceNow Training and Certification, visit our website. Please comment on this article to see your question featured in upcoming blogs.
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