Employees crave more training: 41% would leave if it isn't offered

In a tight job market, retention tools should not be overlooked to not only keep employees, but also, enhance their experience at the workplace. A new research report from TalentLMS and Vyond revealed the pivotal role that training plays in retaining a skilled and motivated workforce. Forty-one percent of employees said they would look for another job in 2024 if their company doesn’t provide them with training opportunities.

“There is a growing need among employees in training on topics and skills that transcend their job roles,” noted Thanos Papangelis, Epignosis CEO and Co-founder of TalentLMS, and commented: “Personal and professional growth are not separate roads to success. Companies should invest in nurturing well-rounded professionals, acknowledging that continuous learning beyond job specifics is essential in the ever-changing business landscape.”

Given the importance of training for employee engagement and satisfaction, the survey explored the training topics and skills that will be important for organizations to provide in 2024. Eighty percent of employees think that personalized learning will be important in 2024, and 68% stated the same for non-work-related training that supports their overall wellbeing.

Underscoring the importance of training in career development, an impressive 72% of respondents said that they have progressed in their careers thanks to the training they’ve got from their companies in 2023. And 71% report feeling more prepared for the future of work because of the training they received. Still, 2 in 3 employees (66%) think that they need to develop new skills to be successful at their job.

“People-first companies know that skills development is essential to both the business and the employee. Getting it right for today’s workforce requires addressing the chronic drawbacks of workplace learning that were surfaced in our findings,” Van Diamandakis, Chief Commercial Officer at Vyond commented.

The report also shows that 73% of employees are satisfied with how aligned the training they got from their employer is with in-demand skills. Also, 77% of employees are satisfied with the relevance of training they got from their company in 2023 to their job roles and responsibilities.

In spite of an overall positive employee sentiment toward training, the survey pinpointed several pain points where L&D can do better. Those obstacles employers should watch out for include: training sessions that are too long, training content that is not delivered in an engaging way, and training content that cannot be delivered on-demand.

Related: L&D programs when budgets are tight

Leadership and management take the top spot in non-mandatory training as the most coveted type of training. Thirty-six percent of employees want this type of training while 42% actually get it. This choice reflects the desire of employees to take charge of their own career growth. It also indicates an aspiration to build influence in their teams and companies, guide and inspire others, and make an impact.