Focus on retaining good employees. Sounds intuitive, right? As usual, the simplest answer is the best one, but the difficulty lies in getting there. How do you increase retention rates while minimizing costs? They key lies in building a healthy corporate culture, fostering and encouraging employee growth and development. Too many companies worry that by nurturing talent, they're training their staff to leave. However the overwhelming evidence is that employees rank a good working environment higher than anything else, including salary. By providing job training and encouraging growth within an organization, you'll actually be working towards keeping your best employees stimulated and thus happier.
Too often, employers look at the cost of salaries as reported in their financial statements, and conclude that because those costs are usually the single largest expense of running the organization, spending any more money in that area would be wasteful. This creates a vicious cycle where employees end up unhappy, productivity goes down, and turnover is high, leading to higher costs. Soon, the only thing the CEO can think to do is to make cuts to the workforce, which lowers morale even further. The downward spiral continues.
So how do you achieve this ideal of a corporate culture where people are eager to come to work every day? The most innovative and successful companies worldwide recognize that providing on-the-job training in a supportive atmosphere is the best way to encourage growth and prevent burnout.
The best companies will of course want the best training. SS&C's Zoologic Learning Solutions offer a full suite of online courses for financial professionals. Because the courses were themselves developed in a healthy corporate atmosphere, you can trust that the quality is extremely high and created by people who take an immense amount of pride in their work. Talk to us today about getting a program customized for the needs of your organization and its most important asset, its employees.