Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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.



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.