Talent development success in SharePoint, for less money

SharePoint for Talent Development

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Talent development success in SharePoint, for less money.

Each year there is a new buzzword in the training industry – from gamification and mobile learning to HTML5 and MOOCs. The hot topic of the moment these days is talent development. Many organizations find value in talent development and have increased their budgets accordingly, but there is an overlooked resource in SharePoint.

It’s no questions that talent development has taken over the training world because it is so intimately tied to a company’s bottom line. Here are some interesting facts:

Employee turnover is expensive and highly disruptive to a business.

  • The Bureau of Labor Statistics says that the workforce experiences more than 4 million partings each month which includes 2.7 million of those people quitting their jobs.
  • It costs a company about 1/5 of a worker’s salary to replace them. For example, the average cost to replace an employee in the private industry is $13,996. And, some HR experts even estimate it to be as high as 50 percent of a departing worker’s salary!
  • Loss of productivity. Research conducted by Bersin Deloitte estimates that it may take a new employee 1-2 years to reach the productivity of an existing person.

Key senior positions are left vacant due to the baby boomers retiring which is making it more and more difficult to find the right talent. The effects of this can cause undeniable damage and companies will need to take a skills inventory to understand better where there existing skills lie and what they will need in the future. Developing talent internally versus externally often makes sense financially.

Content employees are engaged, loyal and productive.

According to the Aberdeen Group, 90 percent of employees make their decision to stay at a company within the first six months. One of the reasons they decide to stay or go is engagement. Employees want to feel like they’re an important part of an organizations and connected.

It isn’t always required to spend thousands of dollars on elaborate onboarding programs. What is possible is to look more acutely at overlooked resources in your arsenal of tools to develop talent. This includes three areas: peer mentoring, providing tools to be autonomous and positive peer relationships.

One source that is not only cost effective but a hidden asset for talent development programs is SharePoint. 

SharePoint adds business value to talent development

Peer mentoring is a natural way to make new employees feel connected during the onboarding process and SharePoint has a few ways to support peers teaching peers. Community badges are a good way to identify specific members of the team to show they are ‘experts.’ If there are questions, a new employee would easily be able to identify whom to go to. SharePoint also allows experts the ability to assigned permissions in order to help develop training content. 

SharePoint is also a superb tool that allows new employees the ability to work independently and find the answers they need. No matter how great formal training is, employees will always have additional questions and often times they don’t know how to get answers. Research by TinyHR reveals one in four employees do not have the tools to be successful in their jobs. New hires often don’t want to ask questions for fear of looking inadequate but with SharePoint portals, they can find everything they need right in one central place from policies and procedures to company news. 

Camaraderie and peer relationships are a big reason that keeps employees motivated to outperform expectations. The more opportunities employees have to communicate with one another and share knowledge, the more learning will take place. SharePoint team sites, newsfeeds, blogs, community sites and personal sites help people to connect, communicate, and collaborate with each other and find, track, and share important content and information.

In 2015, millennials will be the majority of the workforce. And, because they are tech-savvy and hard to keep, employers will need to appeal to their need for a greater emphasis on people, exciting work and mentors. SharePoint is a cost effective resource that businesses can tap into in order to achieve a work environment that this group of workers want and need in order to stay at their jobs. 

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