In a fast-changing job market, continuous learning and skill development are crucial for both employees and employers. Workers seek opportunities to grow, develop new skills, and advance their careers, while companies benefit from higher engagement, productivity, and retention. However, many organizations miss critical opportunities to invest in employee learning, which can negatively impact both employee satisfaction and business outcomes. Learn how companies can address gaps in training. Then communicate these opportunities effectively through Total Rewards Statements.
The Impact of Training on Engagement and Retention
Training has been shown to have a substantial impact on job performance and engagement. According to Mercer’s 2023-2024 study, 68% of employees say they are more likely to stay with their company when they feel supported through opportunities for skill development and career growth. Glassdoor’s research supports this, finding that 80% of employees view benefits as a more significant factor in job satisfaction than salary increases. Furthermore, employees who engage in continuous learning are more likely to report feelings of appreciation and loyalty, which are key drivers of retention.
Training plays a crucial role in improving people’s performance and motivation. According to a SurveyMonkey poll:
- ● 59% of workers say training improves their overall job performance.
- ● 51% report that training boosts their confidence.
- ● 41% believe it enhances their time-management skills.
- ● 33% credit training with earning them a pay raise.
However, despite the value employees place on learning, only 52% feel their employer provides the right amount of training. Organizations that invest in learning and development see tangible returns—companies with comprehensive training programs report 24% higher profit margins, demonstrating that continuous learning is not only an investment in people but also in business success.
By integrating learning opportunities into Total Rewards Statements with TRS Express, businesses can ensure employees understand how the company supports their growth and career development.
Missed Opportunities: Where Employers Fall Short
Many organizations miss significant opportunities to empower their staff through training. According to EY’s survey, 66% of employees encounter barriers to career advancement, often due to limited access to resources, guidance, and fair wages. This lack of support can lead to disengagement, with employees feeling that their potential is either overlooked or undervalued. In fact, a Pew Research study found that 63% of workers who quit their jobs cited a lack of advancement opportunities. There are several key areas where companies fall short:
1. Lack of Mentorship Programs
Although 51% of workers actively seek advice from colleagues to improve their performance, mentorship programs remain underutilized. In Fortune 500 companies, about one in three lacks a formal mentorship program, and 75% of smaller businesses do not offer one at all.
By not offering mentorship, companies miss a valuable opportunity to provide guidance, wisdom, and support to employees. Employers can highlight available mentorship initiatives within Total Rewards Statements, helping businesses reinforce their commitment to professional development.
2. Limited Access to Online Education Platforms
More than 70% of employees either don’t know if their employer offers access to online education platforms or believe no such access exists. Meanwhile, 34% already take online courses in their free time, indicating a strong interest in upskilling. Companies can capitalize on this interest by providing access to platforms like Udemy, Coursera, or Udacity.
3. Neglecting Tenured Employees
While onboarding and initial training for new hires is common, opportunities for learning and development tend to decline as workers mature within the company. Many companies mistakenly operate under a “culture of genius” mindset—the belief that their staff either have the talent to succeed or they don’t. This mindset stifles improvement, motivation, and growth. Given that 57% of employees who left their jobs cited feeling disrespected, neglecting the career needs of tenured employees can contribute to a feeling of undervaluation and lack of respect.
Investing in tenured people pays off in improved productivity and employee satisfaction. Companies like AT&T have embraced this strategy by retraining 100,000 workers with online courses, resulting in increased engagement and a spot on the Fortune 100 Best Companies to Work For list.
Understanding Employee Preferences for Learning
To create effective learning programs, companies must understand how their people prefer to learn. According to SurveyMonkey’s findings:
- ● 65% prefer to watch videos to learn new skills.
- ● 55% favor lectures and presentations, and 47% enjoy reading short articles.
- ● 74% identify as either visual (preferring charts and visuals) or physical learners (learning through physical activities).
- ● Only 25% prefer audio recordings as a learning method.
While videos may be popular, companies should offer diverse learning formats to meet everyone’s preferences. Businesses can also survey people to identify their preferred learning methods and topics, ensuring that training programs align with their staff’s needs and interests. Companies can communicate personalized learning plans and training opportunities within Total Rewards Statements, motivating employees to engage with available resources.
The Role of Flexibility in Supporting Continuous Learning
Flexible work arrangements play a key role in enabling employees to pursue continuous learning while maintaining work-life balance. Gallup’s research found that 76% of hybrid workers report improved work-life balance, and 64% say they use their time more efficiently.
Read More: Use Your Employee App as a Self Service Learning Development Portal
However, 31% cite limited access to resources as a challenge in hybrid environments. To address this, companies must provide remote-friendly training resources and ensure employees feel supported, regardless of where they work.
Conclusion: Supporting Career Growth with TRS Express
In today’s workforce, continuous learning and career development are essential for both employee satisfaction and business success. Companies that invest in training, mentorship, and online education platforms not only enhance employee performance but also reduce turnover and strengthen engagement. Offering ongoing development opportunities and communicating them clearly through Total Rewards Statements helps companies foster trust and motivation. With Total Reward Statements, businesses can emphasize the value of training, mentorship programs, and career growth initiatives, helping employees see how their personal and professional goals align with the company’s long-term vision.
By leveraging TRS Express to communicate available learning opportunities clearly and effectively, businesses can motivate their workers, promote professional growth, and reinforce their commitment to development. Transparent communication builds trust, engagement, and loyalty, positioning companies for long-term success in a competitive job market.
