Countering the Great Resignation with L&D
According to a recent news report, the Great Resignation is still going strong. The US Bureau of Labor Statistics says about 100,000 more Americans quit their jobs in February than the
previous month. Those are the latest figures available. Some of the biggest waves of resignation occurred in retail trade, durable goods manufacturing, and local government education (e.g., extension services). All this means that Learning & Development (L&D) is more important than ever in helping retain great workers.
New research
Employers are getting the picture. New research data collected by TalentLMS and the Society for Human Resources Management (SHRM) shows that two-thirds of HR managers expect budgets for L&D to grow this year. More important, more than three-quarters of employees say they are more likely to stay with a company that provides ongoing training. Training is essential for filling skills gaps—improving skills for advancement and learning new skills—but HR managers say they also would provide more mental health and well-being training if they had the budget to do it.
Silver lining
It’s logical to see growth in awareness of L&D importance as one of the (few?) benefits resulting from the past two-plus years of work-related upheaval. Employers have a growing understanding that it takes more than a competitive salary and an ergonomic office chair to retain a talented work force. Let’s hope the growing emphasis given to L&D is not a short-term phenomenon. We also hope that employers will continue to invest in the trainers who play an integral role in retaining the most essential asset any organization has.
The importance of L&D doesn’t stop with corporate training. It’s just as important for government agencies, education organizations, and any other employer that wants to succeed long term. Learning Stream will continue meeting training groups where they are. We would love to hear from you about what ways a registration platform can make life easier so that your focus remains on actual training. Reach out to us any time.