Welcome back to the ROI of Training series! In this critical second episode, we tackle the “million-dollar leak”: employee turnover. Discover how a strategic learning and development program can act as the plug, saving your company significant costs and boosting morale. Are you leveraging training to measure and reduce churn effectively? Find out the hidden metrics and proactive strategies—like the STAY interview—that top companies use to champion career development, double tenure, and prove L&D’s value to stakeholders.
Key Highlights- 00:00 – Recognizing the cost of employee turnover in the industry and honoring key industry research partners.
- 02:23 – The power of measuring turnover as an impact metric following solid training program implementation.
- 03:45 – Understanding the indirect costs of turnover: lost institutional knowledge and damaged team morale.
- 04:35 – How career development champions achieve higher internal mobility and double the tenure of competitors.
- 05:15 – Introducing the STAY interview as a crucial learning needs assessment tool to proactively prevent churn.
- 05:50 – Moving beyond onboarding: the necessity of continuous, individualized training.
- 07:15 – Calculating the ROI of learning and development by showing how reduced churn pays for the entire training budget.
References:
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