{"id":9453,"date":"2021-04-27T10:35:09","date_gmt":"2021-04-27T10:35:09","guid":{"rendered":"https:\/\/www.answerconnect.co.uk\/blog\/?p=9453"},"modified":"2023-09-13T10:09:25","modified_gmt":"2023-09-13T09:09:25","slug":"promote-learning-time-at-work","status":"publish","type":"post","link":"https:\/\/www.answerconnect.co.uk\/blog\/business-tips\/promote-learning-time-at-work\/","title":{"rendered":"How promoting learning time at work helps your business grow"},"content":{"rendered":"\n

There\u2019s a new trend in businesses. It\u2019s slowly progressed from an out-there<\/em> internal process in new-age start-ups to become a common practice in Fortune 500 companies. I\u2019m talking, of course, about \u2018learning time<\/a>\u2019. And if your company isn\u2019t doing it already, you may be missing out.<\/p>\n\n\n\n

It\u2019s no secret that people are staying at jobs for less time. In the US, wage and salary workers have worked for their current employer a median of 4.6 years<\/a>. But whereas the median tenure for employees age 65 and over is 10.3 years, that falls to just 3.2 years for workers age 25 to 34.<\/p>\n\n\n\n

Younger employees feel less tied to a single place of employment. They\u2019re also more likely to consider workplace policies before making a career commitment. They\u2019re equally more likely to leave a workplace<\/a> – and even change their career<\/a> – in the pursuit of the perfect workplace.<\/p>\n\n\n\n

\"Smiling<\/figure>\n\n\n\n

Learning time – in which part of your workday or week is dedicated to developing new skills – is key to attracting young talent. But what can learning time do for your business?<\/p>\n\n\n\n

Embrace bottom-up growth<\/h2>\n\n\n\n

Your team know your business. They understand the culture and they know your customers. So it only makes sense to look to your team to close knowledge gaps before you start posting job ads. By allowing your team to develop their skills rather than hiring-in, you can improve performance without the added cost<\/a>.<\/p>\n\n\n\n

Studies show internal upskilling<\/a> is a worthwhile investment. It\u2019s far less expensive to train your existing team than to hire a new employee.<\/p>\n\n\n\n

Of course, there are times when you need an expert in a particular field and can\u2019t afford to wait. But by allowing your employees to learn new skills, you can grow your competencies without the cost of hiring from outside.<\/p>\n\n\n\n

\"Woman<\/figure>\n\n\n\n

Cut turnover<\/h2>\n\n\n\n

It\u2019s no secret; upskill people within your company<\/a> and they\u2019ll stay with you for longer.<\/p>\n\n\n\n

And when an employee leaves, you\u2019re faced with several challenges, including:<\/p>\n\n\n\n