Employees are not getting training and development to help them advance in their careers, according to a recent survey. In addition, two-thirds of workers aren’t receiving any feedback or recognition at all.
The data was released after a November survey conducted by Cornerstone OnDemand, Inc., an HR software vendor. The company asked nearly 500 U.S.-based employees about their jobs and future plans in the wake of the economic slowdown.
The survey revealed that in the past six months, slightly less than one-third of employees received training, while only 25% had met with their supervisors to develop a career plan.
These figures are telling, because they illustrate a fundamental problem with America’s employers—they are not developing their employees, training them to improve and build real careers. What happens then? The employee leaves, and the cycle begins again.
Certainly, many employers cut back on training and development during the recession. But the lack of training is leading workers to change jobs in a big way. According to the survey, 13% of the U.S. workforce (or 19 million employees) plan to change jobs this year. The cost to businesses is estimated to be about $2 trillion.
The survey revealed the following about employees:
- 14% plan to leave their current job within six months to a year.
- 25% plan to switch employers within the next three years.
- 46% of those surveyed said they have a long-range career with their current employer.
- 48% of respondents said they stay at a job because of a good manager.
- 46% stay on a job because of appreciation.
- 39% cite opportunities as a reason to stay.
- 32% said the chance to develop new skills is why they’ll remain on the job.
If companies fail to give employees the recognition, training and development they want, they should almost plan on workers leaving and seeking it elsewhere.