Last weekend’s Australian has an article by Tom Karmel. Quoting reseach by the NCVER , he says that ‘providing employees with opportunities to learn and developp their careers pays better dividends’ (in terms of retention) ‘than ever -bigger paypackets.’
Labour churn in Australia was running at 12% per year before the crunch. And a key reason for moving on (usually by the brightest and best) was lack of opportunity to grow and develop in the role. So the notion of a learning culture pays off in terms of increased innovation, creativity and retention. and Tom, well he is the MD of NCVER.