In a recent poll we asked, "What Is the Turnover Rate in Your Organization Per Year?" You responded as follows:

• Less than 25% (69%)
• Less than 50% (19%)
• Less than 100% (8%)
• Less than 200% (2%)
• Less than 300% (0%)
• Don't Know (0%)

Turnover is costly and risky. Employees that leave are more likely to sue than employees currently employed. Consequently, finding the best practice methods for creating loyalty and reducing turnover in your organization is critical.

Training is one way to increase employee loyalty and reduce turnover. Read below for some of the benefits of training.

• Training improves job satisfaction. Investing time and money in employees' skills makes them feel valued and appreciated and challenges them to get more involved in their work. 
  
• Training increases employee productivity. In addition to learning how to complete new tasks, employees can learn how to complete everyday tasks more efficiently.
• Training reduces turnover. Employees who don't receive guidance are much more likely to leave your company while employees that have the opportunity to learn new skills and keep up within their industry are more likely to stay.
• Training aids in the recruiting process. An employer committed to training is able and willing to hire a desirable candidate who lacks a specific skill.
• Training also makes an employer more attractive in the eyes of potential employees because it offers room to grow and new challenges.
• Training rewards long-time employees as they are promoted because they have learned new skills and are ready to take on new challenges.
• Training reduces the need for employee supervision if employees learn how to do their jobs better and work safer.

This informational piece is part of "News to Use" published on July 30, 2010.