Learning and growth equals employee satisfaction
Investing in your people means your people stay.
In a world where Gen Z is redefining workplace culture, there’s higher attrition than ever before. The latest buzzword “quiet quitting” has sparked a massive debate over culture, L&D and taking initiative at the workplace. Under these circumstances, the above statement holds more true than ever. Let’s dig a bit deeper.
For long, creating growth opportunities for employees was seen as a good-to-have, but not a necessity. There’s ample evidence today that learning and development contributes to business outcomes. One of the metrics by which this is measured is attrition. Lower attrition equals more productivity which results in better output and so on. Attrition is a metric that can largely be controlled through targeted investment in people.
Reports put opportunities to learn and grow as the number one driver of a great work culture. This is primarily due to the lack of growth and upskilling opportunities provided to people by their employers. Unfortunately, the onus of upskilling oneself is limited to one’s own investment in themselves. This is reflected in supporting studies that show around 54% of people feel they lack the power skills required to survive the future of work or the “new normal”. Therefore, today’s workforce is more likely to be satisfied in a workplace that invests in their growth. A Better Buys report showed that 92% of employees think having access to professional development is very important or important.
Providing increased learning opportunities to people so that they upskill can help instil a sense of purpose in team members which means they would be more productive and less likely to switch jobs, hence contributing to business success. While quiet quitting as a concept is much under debate, the overarching sentiment lies in an employee losing initiative and the will to go the extra mile. It is usually a result of employees lacking a sense of purpose. Introducing learning initiatives that allow employees to chart out their own growth trajectory, gives them the fuel they need to propel not only their own professional development but the company as a whole.