US companies invest a significant amount of money, time, and resources into training their employees. A new approach to learning and training should be at the top of employers’ to-do list.As the matter of fact, Gallup estimates that disengaged employees cost US businesses up to $550 billion annually in lost productivity. Yet many companies are still using stale, one-size-fits-all materials that do little to inspire retention or performance.
It’s often hard to know how much of that information is actually being effectively retained and put to use. You may have insight into training compliance, but there are few means of measuring absorption. And according to a host of new data, if companies want to identify the source of profitability bleeding, it lies with lack of retention.
Cutting through the clutter
Training methods need to evolve with the times in order to keep personnel productive, engaged, confident in their knowledge, and adamant in their pursuit of learning. Businesses must understand that with their employees, they’re up against fragmented content consumption, increasing distractions, and greater control by the consumer. Training and learning materials are struggling to cut through the clutter, and employees ultimately are disregarding them.
This results in a disengaged and disenchanted workforce, decreased loyalty, lost productivity, and, in the end, lower profitability.
The “training problem”
By their nature, trends like these should be encouraging employers to rethink training for new hires; yet Rapt Media’s recent survey data on the American workplace shows that employees are disengaged and disappointed with training techniques used by their employers and are not actually absorbing the information required to perform.
The survey shows that the majority of employees (65 percent) feel their company could have done a better job of onboarding them. In fact, three out of four employees (74 percent) said they’d forgotten some or all of the last mandatory training they attended, while more than half (57 percent) completed the training only because they had to.
This data highlights the difference between compliance and absorption in the workplace and, when deconstructed, pinpoints effectiveness, growth, and engagement of employees as a key indicator of success. It is increasingly difficult to present information in ways that capture attention and stimulate learning, but investing in effective training has proved to be essential to success.