In today’s dynamic workplace, modern talent expects their employer to prioritize learning and career development. LinkedIn’s 2018 Workforce Learning Report found that 93% of employees would stay with a company longer if it invested in talent development. In the same report, 75% of employees said they would take courses suggested by a manager.
Learning opportunities are especially important to Millennials, who value on-demand course options and soft skill development including leadership and communication. Unfortunately, the modern worker does not believe organizations are able to provide the learning development programs needed to grow or feel fulfilled—42% of Millennials say they will leave a company if they aren’t learning fast enough.
Why talent development is important
The modern worker values flexibility—from flexible work options to personalized learning experiences. Modern talent also wants to know their job has meaning and purpose. That’s why many organizations are investing in talent development programs that foster a culture of growth and sense of purpose. Organizations benefit by closing skill gaps, increasing engagement, and improving chances at winning the war for talent. Additionally, when managers focus on talent development, 61% of workers are engaged compared to the average of 30%.
Five ways to develop and retain modern talent
To attract and retain the best employees, the most successful organizations are using talent development software to become more responsive to the needs of modern workers. Take steps now to build a culture of learning in your organization and invest in programs that prioritize and support talent development. Here are five things the modern worker wants in a job:
1. Provide on-demand access to personalized learning.
The modern worker has grown up with technology and the ability to search for answers anytime, anywhere. Therefore, Millennials expect that learning opportunities will be available in a variety of formats to address immediate needs in the workplace. With a personalized learning approach, employees can acquire new skills, develop leadership potential, and achieve professional growth. Employers can also support development opportunities with a learning management system that enables workers to set goals, monitor progress, and track achievements.
2. Offer coaching and mentorship opportunities.
Nearly 80% of Millennials consider workplace mentorship to be important for a successful career. A talent development system can help you connect employees with mentors in your organization to provide both job and career guidance. This provides a hands-on training approach that is valuable for modern workers looking to learn and enhance skills quickly. Many organizations also provide peer-to-peer mentoring opportunities to foster collaboration in the workplace and strengthen relationships.
3. Support a culture of continuous feedback.
The modern worker wants more than just an annual review of performance. Many successful organizations are incorporating regular, continuous, and constructive feedback into the workplace so employees can make changes to both accomplish daily tasks and meet longer-term career goals. Frequent, personalized feedback shows employees that they are valued and respected.
4. Recognize and encourage mobility.
It is widely known and accepted that recognized employees are happier and more productive. Showing modern talent that you appreciate their efforts makes them feel good about what they do which can increase loyalty and engagement. Additionally, workers want to remain with their company when they are growing and feel challenged. Take steps to ensure your organization is offering both opportunity and career mobility so employees don’t feel stagnant.
5. Build an engaging workplace.
The modern worker wants it all: flexibility, good benefits, fair pay, training, growth, and meaningful work. In a recent survey, 78% of US Millennials and 74% of UK Millennials said it was important that their employer’s values matched their own. These employees want to know they are making a difference and have a sense of purpose. The most successful organizations will win the war for talent by offering a strong employee value proposition that prioritizes talent development.
Retain modern talent with focus on learning and development
Supporting the modern worker with an effective talent development program creates more productive and engaged employees that stay with your company. Talent development is an important part of your human capital management (HCM) strategy because it helps you attract and retain your organization’s biggest asset: employees. Focus on providing personalized learning opportunities, continuous talent development, and meaningful work. Asure Software provides HCM software solutions that increase your ability to win the war for talent by offering flexible plans for your agile workforce.