June 19, 2014

With today’s competitive environment, it’s important for employers to go the extra mile in retaining employees. That means a concerted effort in enhancing training and development must be a top priority. Paying for training can add a significant amount of money to the bottom line, yet it is a worthwhile investment. It makes employees feel valued and appreciated, and more likely to remain with their employers. Companies that offer training and development opportunities save an average of $94,444.47 by avoiding turnover. The more technical the position, the more it costs to replace employees, sometimes averaging over $125,000.