Don’t look now, but it’s a seller’s market for labor out there.

After several recessionary and post-recessionary years when employees sat tight in their jobs, an expanding economy has got them feeling frisky and likely to look for greener pastures, according to a recent survey by the consulting firm Deloitte.

And in the face of this trend, executives plan to step up training as a priority. Relevant training, as you’ve no doubt heard before, is one effective way to motivate employees to stick with you — at least for a while.

Building competitive ability
The Deloitte survey looked at what the firm called mid-market companies — those with yearly sales of between $50 million and $1 billion. Some 525 senior executives were asked about their views and plans for becoming more competitive.

Here’s what Deloitte found:

  • Two-thirds of the executives said they had seen a rise in voluntary turnover, up sharply from 43% two years ago.
  • Two-thirds of the executives also said it was hard to find employees with the skills and education they needed — an obvious incentive for employers to avoid losing the capable employees they already have.
  • 52% of those surveyed said their chief investment in talent in the coming year would come in the form of training. That compared with 45% who said they would be increasing the size of their workforce and 32% who said they would be giving out raises.

A positive message
There is no perfect retention strategy, and we’d be disingenuous to suggest that training will keep all of your best people around forever.

But remember that you’re sending a positive message when you continuously train employees in relevant skills and techniques: that you’re willing to invest in their careers and future marketability. Bright, ambitious people are likely to value this investment and want more.

Leave a Reply

Your email address will not be published. Required fields are marked *


  • Rapid Learning Institute 1510 Chester Pike, Suite 310 Eddystone, PA 19022

  • Toll Free: (877) 792-2172
  • Contact Us

About RLI

RLI is 100% CAN-SPAM compliant. We're dedicated to protecting your privacy. We will NEVER sell or share your email address and will promptly honor all unsubscribe requests.

Learn More

Connect With Us

Signup to Receive Industry-Leading Tips and News from our Experts