33% ready to leave: how to boost retention with your L&D strategy

With one third of employees ready to leave their workplaces, effective retention strategies are more crucial than ever. HR professionals must enhance their learning and development (L&D) offerings to engage and retain top talentDespite being a pressing issue for most companies, employee retention is something that many HR professionals struggle with. And recent research contained within Babbel ebook, Mastering Employee Retention: Strategies for Success, supports this. While companies believe that only 20 per cent of their workforce is considering leaving, the reality is much starker, with 33 per cent of employees ready to move on. When retention is not properly addressed, the cost of attrition can be staggering. The CIPD estimates that the median cost of hiring senior managers and other employees is £3,000 and £1,500, respectively. There are recruitment expenses, training costs and the negative impact of lost productivity to consider. But beyond the financial burden, high turnover rates can also erode team morale, decrease productivity and lead to the loss of core knowledge. Clearly, boosting retention is a pressing priority and one of the most effective ways HR professionals can address this challenge is by enhancing their L&D strategies.Why are so many employees ready to leave?The UK workforce is experiencing a high level of turnover due to a combination of factors, including poor workplace benefits, organisational change and a lack of career development opportunities. The post-pandemic shift towards flexible work environments has played a key role, with Babbel reporting that 52 per cent of workers now favour flexible arrangements – a sharp increase from 30 per cent pre-pandemic. Companies that can’t adapt to these shifts are at risk of losing their top talent to more adaptable competitors. Moreover, with a competitive job market, employees are more willing to seek opportunities elsewhere if they feel their current employer is not meeting career growth needs.What can HR professionals do to boost retention?To keep employees keen, HR professionals must focus on several key L&D areas to not just meet the immediate needs of the workforce but also future-proof the organisation by equipping employees with the skills required for what’s to come. 1. Identify core learning and development needsThe first step in creating an effective L&D strategy is to identify the core learning needs of the workforce. This can be achieved through an internal skills gap analysis, which helps HR professionals understand the direction in which the organisation is heading and the skills required to get there. As Lucy Westlake, director at HR consultant, HR Dept, suggests, “HR professionals should align workforce development with the company's medium and long-term objectives, ensuring that reskilling efforts are directly tied to business goals.” By doing so, organisations can ensure that they are not just meeting the current needs of their employees, but also preparing them for future challenges.2. Set clear objectives and define roles and responsibilitiesOnce the core learning needs are identified, it is crucial to set clear objectives for the L&D initiatives. This involves defining the roles and responsibilities within the HR team and ensuring that everyone understands their part in the process. Westlake emphasises the importance of agility, noting that “a five-year plan may be too long in today's fast-paced environment, where AI and technological advancements can rapidly change the skills landscape.” By setting clear, yet adaptable objectives, HR professionals can create a dynamic L&D strategy that grows and shifts alongside the company needs.3. Focus on upskilling and reskillingIn today’s rapidly changing business environment, upskilling and reskilling is essential. Focusing on versatile skills, such as language learning, can offer significant benefits to both employees and companies. Cognitive skills, particularly language skills, have broad applications and can significantly impact business outcomes. Babbel research finds that 50 per cent of companies believe they will need additional language skills in the coming years — acquiring a new language not only enhances communication but also cultivates essential soft skills such as intercultural awareness, adaptability, and flexibility. These skills are invaluable in an increasingly globalised workforce and can greatly contribute to employee retention by providing them with tools that have both immediate and long-term benefits. 4. Know what success looks like and how to measure itTo ensure the effectiveness of L&D initiatives, it is crucial to define what success looks like and establish metrics to measure it. This could include tracking employee engagement levels, measuring the impact of upskilling efforts on productivity, or assessing the retention rates of employees who have participated in programmes. HR professionals should engage employees in the process. “One of the key ways to do this,” says Dr Nicola Bowman, head of delivery at CIPD course provide Avado Learning, “is to share with the team what success looks and get them to offer suggestions and from this to develop set criteria and use this to measure progress through set milestones, KPIS and regular review of progress.” But, she warns: “Be prepared to change direction and refocus on the goals through the milestones, check in and regularly update the team on progress and share these so that the team feel involved.”ConclusionIn a competitive job market, where 33 per cent of employees are ready to leave their current roles, enhancing L&D is a powerful way of boosting employee retention. A proactive approach is key to building a loyal, skilled and engaged workforce. “Develop your people for what you need today,” says Westlake, “and by tomorrow, you’ll have the people you needed yesterday.” For more insights download Babbel’s Mastering Employee Retention ebook.

33% ready to leave: how to boost retention with your L&D strategy

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