Can a management course boost your staff retention?

Over the last few years, various companies have made the shift from old-school management styles and opted for a new age, “leadership-focused” approach. Executives across the board are encouraged to partake in a management course and training that strengthen and grow their leadership skills in ways their predecessors never did. As we observe this shift from the comparatively autocratic style that dominated workplaces in the lead up to this present day, it’s important to understand why this radical move has taken over the status quo.

According to a study conducted by Deloitte, “Australian millennials believe culture is more important than money: 67% rate a positive work environment as the most important consideration when choosing a new employer”. The modern workplace has indeed changed; there is a greater focus on remote working, automation and a glaring spotlight on culture and environment. It’s slowly becoming undesirable for a company to apply excessive restrictions and limitations on staff autonomy, especially if staff retention is a business objective.

Global organisation PwC recognised that staff turnover can largely be due to a rigid working environment, coupled with the stresses of the job at hand. According to news.com.au, PwC implemented a work culture overhaul, including relaxed dress code, added staff benefits, approachable senior staff and flexible working terms. Within several years, they found themselves amongst the top 10 best companies to work for in Australia and a favourable choice amongst new graduates and millennial employees.

We see many companies lose highly skilled, quality staff within short periods of time, never really understanding that the problems often start from within. That is why a management course is tailored to teach skills that were previously disregarded and are now in demand. So…

Why take a course?

While most experience is learnt on the job, if your career has found itself following the same streak and patterns over the year, chances are you are still accustomed to an outdated style of management. Millennials are no longer interested in or attracted to the outdated practices of the 2000’s. They don’t want to be micro-managed, they want work-life balance and they value company culture.

And we all know that a company with a high staff turnover is also suffering from a lot of time and money wasted on training and recruiting, which leads to inefficient internal processes such as untrained or unqualified staff handling jobs beyond their skill set and so on.

Another driving factor in undertaking a management course is the increased likelihood of career advancement. This is motivation enough for many people looking to grow their knowledge or expand their skill set to better position themselves for a promotion. It can even be the make or break between two candidates. With many employees rating ongoing training and development in the workplace as highly valuable to them, offering a management course to staff can be seen as a huge benefit of the job. This reads to your employees that management teams are encouraging progression within the company, which can boost staff retention.

By 2025, millennials will comprise three-quarters of the global workforce, meaning that we will more than likely see an overhaul in the workplace from now until then. It’s not ideal to be the last person to adopt these changes, so try and stay ahead of industry changes. You can do this by:

• Observing what your competitors are offering their staff
• Keeping up to date with digital trends that are becoming increasingly popular in the workforce
• Asking for feedback! Maybe they would like more team building activities, or perhaps
• Take a management course and hone your skills.

If you are interested in polishing your skills and taking a positive step towards a stronger managerial structure geared at retaining your staff, click here and one of our advisors will be in touch with you shortly.