Certifications and training: a retention focused perk or waste of money?
Let’s talk about certifications. The age-old question: is investing in continued education, training and paying for certifications really worth it? Or are you simply better equipping your employees to leave you for a better offer?
According to the PROTECH yearly tech talent survey, 7% of tech workers cite lack of education/additional training as a primary reason for leaving a company. Additionally, 5% of tech workers list education reimbursement/training as one of their favorite perks. Even though employees enjoy this perk, is the cost and expense really resulting in retention? According to a new study by Dice and The Linux Foundation, the answer might be yes, especially when those certifications are for open-source technologies.
With an ever-increasing demand for open-source professionals, 89% of hiring managers report having difficulty finding talent. Using paid training and certifications can set your company apart – or at least make you more competitive with what competing employers are offering. With 47% of companies willing to pay for certifications, offering this perk is almost essential in the competitive market for open-source tech workers.
Clearly paying for certifications and training is an excellent benefit in recruiting and attracting talent, but is it a good way to keep talent? Yes, but only to an extent. Other primary things employees are looking for are raises, growth opportunities, work/life balance and the overall benefits package. Some other factors? Employee stability, commute, company culture, and work environment/stimulation can also come into play.
Tech workers are surprisingly loyal, if treated well. The best way to boost retention? Ask your employees what perks they find most valuable and make an effort to make it happen. At the very least, they will feel like if they are ever unhappy, they can discuss it with you first before immediately jumping to a job search.