Continuous effective training, a significant factor in increasing the productivity of an IT team by 10% or more
In a recent study by IDC (commissioned by Symantec), continuous effective training was identified as a significant factor in increasing the productivity of an IT team by 10% or more.
Satisfied and motivated employees are productive employees, willing to go the extra mile in sharing the risk and reward of investment. As our research found, those with fewer opportunities to continue their skills development are more likely to leave their position, even at a pay cut. Perhaps it’s time to revisit your tuition reimbursement program to include IT training from a trusted vendor.
Consider that replacement of skilled staff is an expensive and time-consuming process. The American Society of Training and Development (ASTD) estimates that the full cost to replace a professional is 150% of the annual salary. With an average IT salary of about $74,000, the investment necessary is $110,000. These costs include recruiting, vacancy costs, productivity losses, and training.
In a fast-changing competitive landscape, firms cannot afford to lose the core of their business intelligence. In this report, 24% of the respondents stated they are considering changing employers within the next year. Even those reporting high satisfaction with workload, work environment, and base salary are seven times more likely to consider changing employers.[salary report, techrepublic 2008]