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Young professional climbing stairs Setting up clear, defined career pathways helps employees map out the skills and training they need to move up to certain roles and functions. (Photo: Shutterstock)

Amidst a grave labor crunch and a pandemic that is continuing through its second year, many workers, burned by the lack of support and stability from their previous workplace, have quit their jobs and are considering entire career changes. This “great reassessment of work,” as it is called, is compelling many companies to offer incentives that attract new talent, keep existing employees and ensure all parties feel motivated to work.

Fortunately, education programs are recognized drivers of retention and employee engagement. When workers enroll in a training program and see a path to advancement, they are more likely to stay. Citing a 2011 Deloitte survey, the Aspen Institute calculated that 54% of employees ranked “opportunities for promotion/job advancement” as a more important retention incentive than compensation and bonuses. More recently, a September Gallup survey found that almost half of workers (48%) would switch to a new job if it offered skills training opportunities.

 

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