The new study of 750 senior business professionals by Arch Apprentices provides an insight into employee retention – uncovering how to have a happy and productive workforce. Enabling employees to learn new skills is top of the list (73%) – followed closely by promotions (67%) and pay rises (65%).
Other ways to keep people content in their job include investment in training programmes (55%), praise (60%), and working within a knowledgeable team (53%).
Training has many benefits in the workplace – it means a team can acquire new skills, increase contribution to the business, and build self-esteem. By enlarge bosses are aware of the benefits, with around a third of UK businesses spending between £1,000 and £5,000 each year on training their employees, with most of the surveyed professionals saying they offer 5-9 days of training each year.
Productivity is often cited as the key to business growth and if it is maintained it can be a major success factor.
Further results from the 750 business professionals illustrate that 70% say that informal training takes place within their business at least once a month, with 88% offering on the job training opportunities.
39% of businesses offer apprenticeships. Over a quarter (27%) say they feel enthused to learn from new digital natives in their business, with over a third (36%) also admitting to learning a lot from young people in the business.
Ben Rowland, Founder of Arch Apprentices, says: “It’s really positive to see that learning new skills tops the list when it comes to keeping employees engaged, beating promotions and pay rises. In the apprenticeship space, we’re seeing businesses such as Google and Facebook tapping into this appetite for learning through their digital apprenticeship training programmes, helping them to supercharge their investment in digital skills and retain their top talent.”