Data can support businesses to impart the right skills

Employee retention is undoubtedly one of the biggest concerns on employers’ minds at this point in history because there has been a decrease in employee engagement and an increase in attrition. A 2022 report from Gallup shows that employee engagement is still steadily declining. According to the report, only 32% of employees are actively engaged at work. That leaves a staggering percentage of other employees who are not engaged. McKinsey & Company found that 40% (or two in five) of employees are considering leaving their jobs in the next three to six months. Despite global changes in the economy, in our concepts of work, and in how we approach employee engagement, this number has not changed between 2021 and 2022, the report said.

Training fosters engaging customer relationships.

This is a volatile economic time. Customers and companies alike are less willing to take risks and prefer only to invest in purchases that have a guaranteed return. It’s safe to say that customer loyalty is low. Consumers are presented with thousands of vendors and options for every type of product and service at any time. Their internet browsers support this by feeding them varied product recommendations on every website and social media platform. The best way to win customer loyalty at this time is to double down on customer relationships and invest in the long-term, not just the immediate impact of short-term sales.

PwC’s 2022 Customer Loyalty Survey found that loyalty to a brand drops if the digital experience is not as “enjoyable” as the in-person experience—51% of those surveyed said this. Even further, a quarter of respondents said they stopped using or purchasing from a brand in the last year due to a negative experience. This should raise concern for leaders across industries, especially if they are not providing positive digital experiences.

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