Episode 74 - Train to Retain

<h2 data-pm-slice="0 0 []"><strong>Summary</strong></h2> <p class="">This week we explore whether investing in people’s development makes them more likely to stay with an organisation, even if it increases their career opportunities elsewhere.</p> <p class="" data-rte-preserve-empty="true"> </p> <h2><strong>Transcript</strong></h2> <p class="">Hello and welcome to episode 74 of the Leadership Today podcast where each week we tackle one of today’s biggest leadership challenges. This week we explore whether investing in people’s development makes them more likely to stay with an organisation, even if it increases their career opportunities elsewhere.</p> <p class="">There is a cartoon that does the rounds on LinkedIn every so often. It has two people, typically a Chief Financial Officer and a Chief Executive Officer. In the cartoon the CFO says “What if we train them and they leave?” to which the CEO replies “What if we don’t train them and they stay?” It’s pretty cheesy and has sparked thousands of variations. The origins of the quote probably go back to Henry Ford, who reportedly said “The only thing worse than training your employees and having them leave is not training them and having them stay!” The sentiment clearly strikes a chord - we need to invest in people, even if it increases the risk of them leaving.</p> <p class="">What’s missing in both the cartoon and Henry Ford quote is the other side of the equation. It implies that developing people is almost a regretful necessity - a short term investment we need to make, even if it does nothing to retain people. I’m sure we would all like to think that investing in the development of our people will make them more likely to stay, but is that actually the case? Can we increase staff retention while also making it easier for people to take their increased capability and leave?</p> <p class="">Before I tell you the research answer to these questions, I want you to think back over your career. Think about those managers and organisations that really invested in y