Why eLearning Makes Good Money Sense for Small Businesses

It’s not easy to be a small business these days. Social distancing has decimated some industries while others continue to search for ways to adapt without sacrificing service. When looking to trim expenses and generate revenue, there is one area that you shouldn’t cut back more than you absolutely must. That area is employee training.

The Financial Benefits of a Good Training Program

Washington State University’s Carson College of Business highlighted how training (or a lack of training) influences staff retention. Approximately 40% of employees who received poor or no job training end up leaving within their first year. This creates around $11 billion in annual losses due to turnover.

The cost is even higher when filling highly skilled job roles. Reports stated that losing employees in these roles cost 213% of the worker’s yearly salary.

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