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ASTD to Release Study on Recruitment and Retention
Results Point to the Importance of Using Training and Education
Dallas, TX (May 22) – The revolution in today’s workplaces is heralding the rise of the knowledge worker, where brains, not brawn, are considered the competitive edge. Organizations realize that their people are one of the primary reasons for success. Training and development has risen to the top as one of the most important benefits organizations must offer to attract and retain talented employees.
To further investigate how companies are using training and development to attract and retain their employees, ASTD and the Society for Human Resource Management (SHRM) developed a consortium benchmarking study to look at how organizations use employee growth and career initiatives to find and keep employees. Although ASTD and SHRM understand that many strategies are used in this process, the study was initiated to find out more about how employee growth and career development fit into this scheme.
Seven companies, called Exemplary Practice Partners, were screened and chosen
to participate in the study. The companies included Dow Chemical Company, Edward
Jones, Great Plains , LensCrafters, Inc., Sears, Roebuck & Company,
Southwest Airlines, and South African Breweries. In comparison with the ASTD
Benchmarking Service database, in which training investment data is kept for
over 2,500 organizations worldwide, these seven companies:
Additionally, each of these seven companies experiences lower turnover rates and higher employee satisfaction than the average company in its industry. These seven companies believe that this is due in large part to the investments they make in their people, through fair and equitable HR policies and practices, and in their employee growth and career development initiatives.
The analysis of the site visits to each company and surveys uncovered these