Docebo, the learning technology platform, has revealed findings from a survey of European workers about their priorities in 2023. Docebo highlights the importance of a robust L&D strategy for employee retention and talent acquisition. Docebo shared some European and UK results of the survey. The UK results were based on 385 responses from employed workers between the ages of 16 and 65. The wider European survey polled a similar number of employees within France, Germany and Italy. While the briefing note focuses on the importance of L&D, the respondents do not see this as a reason for quitting.
Why are people quitting?
When asked about the top reasons they would quit a job or have done in the past, the survey found:
- UK workers cited not being paid enough (75%)
- Poor management (49%),
- Under-resourcing of teams (34%)
- Poor culture (30%)
- Limited career prospects (28%)
The argument Docebo put forward is that three of these concerns are interconnected. They argue poor management and under-resourcing combine to contribute to higher pressure and therefore churn. Arguably one may also include that all of these contribute to poor culture.
L&D is crucial
Unfortunately, pay has once again risen to the top of the list. Before the cost-of-living crisis, it had slipped down the list in some surveys. Today firms must battle the demands of higher wages against increasing costs whilst trying to maintain revenues. There is a strong argument that firms need to invest. Whilst employees may walk if firms do not pay enough, the additional benefits that an L&D investment can bring can mitigate several of the concerns.
By investing in training managers, firms can improve the quality of that management. While investing in staff may not always resolve the demand for internal career prospects in the short term, staff will see this as an investment in their career path. Firms must face the fact that their ambitious staff are more likely to leave if they can offer them neither career advancement nor learning opportunities.
Mike Byrne, Vice President of Sales EMEA at Docebo, a leading artificial intelligence (AI)-powered learning suite provider, commented, “What we’re seeing here is a clear trend that shows how important learning and development opportunities are to staff across the UK and how much career development is a non-negotiable when it comes to staying with an employer.
“During a time when business survival depends on retaining the right number of staff with the correct skill sets but inflationary pressures are making it impossible to increase wages to keep up with the cost of living, organisations must look at other options to keep staff satisfaction – and headcounts – up.”
Generational view
The survey dived into more detail about what different generations of workers considered important. L&D is important for staff retention, with European workers stating:
- 66% of Gen Z workers would consider quitting their jobs if L&D was cut
- 55% of baby boomer workers would consider quitting their jobs if L&D was cut
The evidence supports these views further, with 37% of European workers stating they have already quit their role (presumably in 2022) because there were no career development options.
When looking for a new role, and therefore of note for companies looking to grow, L&D has a higher importance with:
- 83% of millennials said they were more likely to choose an employer based on upskilling & training opportunities
- 79% of Gen Z say they were more likely to choose an employer based on upskilling & training opportunities
A quick look at the UK viewpoint
Within the UK, one statistic stands out for employers. 66% of UK workers would consider quitting their job within 12 months if L&D was cut. Furthermore, on average, 83% of UK staff would look to join a company that prioritised continuous learning and development (L&D) opportunities.
Enterprise Times: What does this mean
The conclusion that Docebo draws from these results is that employers must invest in L&D to reduce churn and attract new talent. The caveat is that this survey was limited in its scope of questions, and the full survey results were not available for analysis as of writing.
However, with pay on top of employees’ agenda, firms must plan where they spread their budgets. Certainly, firms should have an L&D strategy. This may mean a learning platform like Docebo that can help organisations deliver better value for L&D spending over a more ad hoc approach.
Byrne concluded, “Rather than cutting L&D budgets and risk a staff exodus, business leaders must consider the clear return on investment that upskilling and training programmes can provide. Whether it’s attracting the best new staff, improving the skills of managers, upgrading workplace culture by encouraging continuous learning or developing each individual to reach their career goals within your organisation, L&D has a tangible impact on retention rates and therefore, your business’ bottom line, at a time when success is most needed.”
