Staff retention is a key concern of many businesses both big and small. The money spent on hiring the correct staff should not be wasted as those valued staff members decide to leave after only a few months. Although it’s easy in economically suppressed periods to take staff for granted as the job market falters, this is a critical mistake. The cost of filling an empty position is far higher than retaining staff you already have.
Perhaps surprisingly, many people don’t quote wages as their main reason for seeking new pastures, instead they want a role where they can grow and develop. Offering staff training opportunities therefore increases their commitment to their current employers and lessens the chance of them leaving.
Companies with overseas interests could consider involving staff in various types of employment law training, thereby strengthening the skills you as a company can draw from but also providing self-esteem boosting benefits to the employees themselves. For those with core business interests in the EU German or French law will cover two of the biggest markets for UK based workforces.
But, the world is a vast place, and since the advent of the internet businesses are becoming increasingly international. In which case, sticking to training for English speaking countries – such as Australia – might be wise as it’s a good country to begin international talks with since the language and customs aren’t a barrier. However, if a business truly wants to compete on the global field then employment law for China would probably be a wise choice.
Known as one of the BRIC countries (Brazil, Russia, India and China) China has signalled its intention to become the world’s central powerhouse for industry for many years now, and most supply chains, at some point, pass through the Orient. By expanding business links and training staff so they’re suited to these emerging markets your business – and their future prospects – become increasingly attractive.
Offering training not only to existing staff but as a selling point when seeking new staff means recruitment drives will attract applicants who value on-going training, showing ambition and dedication – what more could you want from your staff. And during a period of greater job instability its a valuable trait for people to feel valued and stable in their job role, creating loyal staff who’ll not only work for a business, but with it.