Here we distancelearn.co.in would like to share one of our service to companies, Employee Retention Strategy - Employees Professional Growth and Development. We are offering various Distance and Part time Short Certificate, MBA and PhD programs, where employer pay partial or full program Fee for their employees with the intension of their personal growth and retention. Below are some major advantages for employers with our sponsored courses:
1. For example, If an employer is sponsoring a 2 years MBA, which would cost somewhere between INR 30,000 – 40,000, the employee will be retained for 3 years, i.e. 2 years while doing the course and 1 years of contract after finishing the course.
2. Employees would be motivated with the fact that employer is sponsoring / investing in their personnel development and growth.
3. When a senior person leaves the company, employers would be paying huge amount to recruitment agencies for replacement. This can be avoided by sponsoring courses and there by employee retention.
4. In many consulting and services oriented companies, clients are charged on number of employees and hours worked for them, and the charge rate of the employees would be based on the years of experience and their education qualifications. So, companies can be benefitted by high charge rates, if their employees have higher education degrees.
Employee retention, especially your best and most productive employees is a key challenge in organizations today. Organizational issues such as personnel development, training, and knowledge updating are crucial for employee retention. Failing to retain a key employee is costly, various estimates suggest that loosing middle managers, team leads and project managers, costs an organization up to 100 percent of his salary. The loss of senior productive employees is even more.