Reducing staff turnover has a number of benefits for businesses – not only does it reduce training costs, but can also help operations run more smoothly.
One expert believes that in order to inspire staff loyalty, companies should think more about investing in young talent, rather than bringing in those who are already experts in their field.
Addressing the Bett Workplace Learning Summit in London, head of early careers at Barclays Mike Thompson said a long-term approach to talent can pay off over the years.
For example, companies that invest in someone's degree will find their candidate is much more loyal to their organisation than an individual who is recruited externally, HR Magazine reports.
Mr Thompson revealed how a fifth of employees who start at Barclays through graduate schemes go on to stay with the company. This figure increases to 80 per cent of those who are recruited through undergraduate schemes and apprenticeships.
"That's because you're investing a lot of time and effort over three years in somebody, versus buying-in someone at the equivalent level of capability," he noted.
Whether you have your sights set on offering a new graduate training program, or simply want to review your existing schemes, carrying out surveys is a great way of finding out where changes need to be made.
Why not provide recent recruits with a training evaluation form? This will give them the opportunity to highlight what is currently working and where quality could perhaps be improved.
You might choose to allow survey respondents to remain anonymous for the most genuine feedback, or alternatively you could ask people to expand on their responses face to face.
Click here for a free custom-branded demonstration of PeoplePulse and see how your organisation can attract the best talent in 2014.