When a vacancy opens up in your company and you successfully recruit the ideal candidate for the job – no mean feat! – your work is far from over. The next step can be even more challenging than sourcing your hire: holding on to them.
Without valuing and investing in your staff, the chances are high that you’ll find yourself entering the hiring cycle all over again in a matter of months. In fact, the average staff turnover rate in Hong Kong hovers at around 10%, with rates in some industries rising as high as 22%.
This doesn’t only bring hassle and inconvenience; on average, losing one hire can cost you well over a third of that employee’s annual wages in subsequent onboarding and rehiring costs, making high turnover rates a real danger for any company seeking professional success.
Avoid the turnover trap and keep hold of your talent
The best way to retain your top employees? Staff training and continuing professional development (CPD).
This keeps both you and your staff up to date with core competencies, on track for your career goals, enthused and excited about professional and personal growth, and has been shown to increase employee retention. All in all, training and CPD creates an employee base that is more committed, productive, and content.
How does the employee gain from CPD?
Filling gaps in knowledge and building new skills
Increased productivity and efficiency
Higher confidence and professional credibility
Opportunity to achieve career goals
How do companies and consumers gain from CPD?
Customers become more confident in and loyal to a brand
Employees are more competent and efficient
Workforces become more motivated and have higher morale
Higher employee retention rates
The next steps
While CPD is a positive step across the board, it’s important to find the right training arrangement for you.
We offer an array of training courses to make things as easy, streamlined, and bespoke as possible – our packages can be tailored especially for you and your needs. We can come to your office, or host your staff elsewhere, and help you an your employees brush up on diverse skills from effective professional communication to effective copywriting. We’ll help you harness the power of CPD to lower your outgoings, boost your profits, and create a happy, harmonious, and successful workplace.