Do This One Thing to Supercharge Staff Retention and Slash Recruitment Costs!
With the annual expenditure on workforce training in Australia estimated to be in the region of $7 billion, and recruitment costs topping an eyewatering $87 billion each year, it’s clear that businesses need to redress the balance. How can we work towards better staff retention rates, cut recruitment costs, and maximise the return on investment for budget spent on training?
It turns out that there is something simple that HR departments of large corporate businesses can start doing straight away to turn workplace training sessions into a retention strategy as well as a development tool. By issuing employees with a certificate after each training session, stating that they’ve demonstrated an understanding of a list of key points, HR departments can support employees to take their career to the next level faster and motivate them to grow within the company rather than looking for employment elsewhere.
How can one sheet of paper make such an impact? Recognition of Prior Learning (RPL) allows employees to fast-track certificate-level courses and can potentially save them thousands of dollars and hundreds of hours getting qualified or promoted. By providing employees with evidence of prior learning, HR departments can leverage RPL to upskill their current workforce, promote from within the business, and slash recruitment costs. Learn more here.
The Rules of Evidence for Recognition of Prior Learning
An RPL assessment is an important process for people who want to receive formal recognition of their hard work and current skills, and speed up the study process. Employees can submit three types of evidence to demonstrate their skill and competency in various tasks.
Direct Evidence – direct evidence allows an RPL assessor to observe employees working in real-time, in person or via video, to demonstrate their skills.
Indirect Evidence – this refers to any type of evidence that an assessor can evaluate to ascertain an employee’s level of skills, such as documents, work communications, portfolios, videos, photos, written assignments, and test results.
Supplementary Evidence – any other evidence that supports an employee’s capacity is considered supplementary and could include things like job descriptions, relevant references, testimonials, interviews, work logs/diaries, and evidence of past training and education.
The Benefit of RPL for Employers and Employees
By encouraging employees to use Recognition of Prior Learning, companies can help them to upskill without paying for extensive and expensive education programs. This is mutually beneficial for employers and employees. Employees can fast-track qualifications necessary for a promotion and save the business money on hiring externally. In turn, by demonstrating support for their employees and a commitment to their career growth, companies can foster a sense of achievement and loyalty in their employees and increase staff retention rates.
