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Why it’s Important to Offer Educational Assistance to Employees

October 7th, 2014

sept 27
Want to encourage an attitude of life-long learning and advancement in your corporate environment? There are many benefits of offering educational assistance to your employees. From on-the-job training initiatives to tuition assistance programs, your organization can help to elevate both the knowledge and skills of employees in very little time. This can enable your company to launch new ideas, products and services, which translates to more revenues.

If you are looking for reasons to present a plan to offer educational assistance to employees at your next corporate meeting, here are the benefits of this effort.

Shortens Learning Curve with Faster Results

The most obvious benefit of providing educational support to employees is that it reduces the costs associated with learning curves with less experienced workers. In some jobs, this can be a significant savings from the traditional learn as you go approach typically seen with less progressive companies. Instead of taking months to learn a new job responsibility, a corporate sponsored educational program can reduce this by weeks, giving employees the ability to be more productive a lot sooner.

Improves Employee Retention and Encourages Loyalty

When a company offers educational assistance to employees, it can create an atmosphere where employees want to stay on board for a longer period of time to take advantage of this benefit. Having a tuition assistance program in place makes employees more accountable to the organization, and they can use their newfound skills immediately on the job. This improves employee retention and can encourage loyalty by employees who feel they owe their employer something.

Provides Up-To-Date Skills to Compete in a Changing Market

An unseen, but valuable benefit of employee educational assistance programs, is that it gives companies a better chance of competing in a changing industry. Keeping employees educated and providing them an opportunity to become credentialed in their chosen field creates an advantage over stagnant companies. Your employees will be more skilled and able to creatively think their way through any challenge in the market.

Want more tips on how to implement an educational assistance program for your employees?

Check with the career experts at Concorde Personnel today! We also welcome you to follow us on Facebook too! 

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7 Steps to Ensure Retention of Top Performers

September 13th, 2011

May 11

 

Did you know that in an average workday, over 80% of all employees are actively engaged in the pursuit of other employment, according to a recent career post on Monster? While this may seem sneaky, it’s actually the norm because it can be challenging to leave one job without having another lined up. That’s especially true in this day and age when top performers are proactively seeking greener pastures. Having a solid employee retention strategy is absolutely vital for the success and growth of your organization.

How can you hang onto your best employees and deter them from seeking opportunity elsewhere? Here are seven steps to ensure retention of top performers.

  1. Identify Skill Sets and Talents – The key to keeping the best employees on board is realizing what knowledge skill sets and talents are needed to get the job done company-wide. Each job type has specific requirements, and top performers exist at all levels. Do an inventory of these skills and you will easily identify your best employers who you can groom for bigger responsibilities and assignments that are more rewarding.
  1. Focus on Employee Development – Once employees are on the job, it’s not uncommon to become frustrated by a lack of development support. Give all employees the chance to learn new skills, take on higher responsibility, be part of progressive projects, and work into new and better roles within the company. This can eliminate the need to seek career development elsewhere.
  1. Provide Mentoring Opportunities – Mentors can be a great source of inspiration from within a corporate environment. Immediate supervisors can often become overburdened with managing so many employees at once, so they can forget about employee development initiatives unless they are continually reinforced. Instead, utilize the skills of more experienced employees to help newer or struggling employees find their permanent spot within the organizational chain.
  1. Develop Continual Training Methods – Enough cannot be said for corporate training as a way to prevent employee dissention. Training gives all employees the ability to learn new skills that they can immediately apply to the workplace, to make it more productive. Additionally, being an education driven company can increase the likelihood that employees will stick around to work on certificates and degrees so they can take on better internal jobs.
  1. Keep Top Performers Challenged – The main reason, besides financial needs, that top performers move on is that they are not challenged enough in their current role. Overachievers tend to need something to keep their attention and without enough stimuli at the office, you can expect them to leave very quickly.
  1. Offer Stepped Promotions and Incentives – Employees need a reason to be at work every day, besides a paycheck. By offering a series of stepped promotions and regular employee incentives, you can give your top performers something to strive for. Therefore, they may just hang around a lot longer if they know they can expect positive feedback and praise for a job well done.
  1. Promote Work Performance – Lastly, make sure your corporate environment is one that promotes performance for pay. Instead of allowing employees to slack off or take advantage of others, establish clear paths for success in the office that all employees can achieve. Encourage friendly competitions, set periodic goals for employees, and make sure that your top performers feel challenged at work.

Want more information about developing a workable employee retention strategy? Contact Concorde Personnel for support and guidance.

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