Your Business' Productivity
The growth of your business’ productivity happens due to numerous factors working together, the most important being your people.
Motivated staff who have an excellent understanding of your business’ customer relationships will be able to give you a competitive advantage that others can’t copy.
With the right programs in place, you can help your employees develop important skills to help them thrive and your business grow.
How Well Do Your Future Employees Understand Business?
A younger generation of employees
By 2020, Millennials (Gen Y, born between 1980-2000) will represent 50% of the global workforce and in Australia, will represent 42% of the total population. This generation’s loyalty to employers is unlike previous generations, with many frequently changing jobs.
Many of these employees want things like workplace flexibility, remote work and more that their experienced colleagues entered the workforce without. Your challenge is to show your business is accommodating to their work-life preferences without it affecting the commercial and professional outcomes your business requires. Allowing young employees to understand important aspects of your business can also result in more engaged and effective teams.
Younger employees bring new ideas… and challenges:
Our research has revealed the main challenges with less experienced employees are resulting from:
- Poor communication skills
- Poor interpersonal skills, having negative impact on overall delivery
- The inability to see their work in the context of the big picture
These, once resolved become some of the most important contributors towards highly effective employees, across all professions.
Unreliable or misunderstood?
The Millennial generation has some distinct expectations of their employers, which when not met often lead to them moving on.
- Where these expectations are met, they tend to feel understood, valued by their employer and tend to be more loyal.
- One key way they interpret being valued is through their employer’s investment in them via training and development.
Reduce The Costs of Staff Turnover
If an employee with an annual package of $60,000 leaves within the first 12 months of being hired, the cost of their departure is $33,000. That’s 55% of their annual package, and this percentage will increase with higher wages. The total cost of this employee is $93,000.
With millennials having low job loyalty it is crucial that you appeal to them to reduce their turnover. One of the simplest cost saving investments you can make to reduce turnover is by offering professional development.
Effective professional development programs are designed to increase engagement and understanding of work. We have designed our program to increase employee understanding, engagement and motivation, allowing you to retain employees and appeal to the best talent.
Benefits of our Program
SMEs provide critical productivity across all areas of the economy. In many cases, millennials assume that only larger employers offer training and a career path. We want to offer you the opportunity to stand out as an employer who offers these kind of growth opportunities to your employees. By complementing your own on-boarding programs, our programs will help you:
Higher retention will reduce disruption and turnover costs to your business.
Employee Motivation and Engagement
Understanding of important business aspects can increase employee motivation as they get a better idea of the bigger picture.
Higher productivity will allow you to increase speed, quality and reduce costs.
Appealing To The Best Talent
Irrespective of your business’ size, you can increase your business’ appeal to the best talent out there.