A recent study from Vanderbilt University's Owen Graduate School of Management suggests that simply training good employees is not necessarily enough to keep them around. In fact, sometimes training (on its own) lead employees to leave companies as they become more valuable in the marketplace. All is not lost, however.
The study finds that employees who feel empowered are far more likely to stay with a company. When employees have a measure of autonomy and decision making power, they “buy in” or commit more fully to a company. Empowerment also includes reward or bonuses directly proportional to performance. Incentives and rewards help to keep employees motivated and on top of their game.
It’s important to strike a balance. Investing in employees without their return investment in your company will generate little reward. However, hiring good people, investing in them and empowering them fosters their commitment to you.