Learning and development initiatives can increase employee retention in three major ways: offering employees valuable career development, demonstrating employees’ long-term prospects within the company, and solidifying employees’ professional identity within the company.
Ongoing career development is often extremely valuable to ambitious employees. Therefore, by offering such opportunities, a company will encourage employees to stay for this perk and also appeal to highly ambitious individuals.
Meanwhile, by taking the time to upskill employees and demonstrate possibilities for future development, a company demonstrates to employees that it views them as a long-term asset. Finally, time spent growing together with the company may lead employees to develop loyalty.