At ALOS we stress again and again how important language training is as a way for companies to stand out. Beyond the market opportunities it opens up, it is also an advantage internally: it is a key tool for building loyalty and retaining talent.
Retaining talent has become a major challenge for companies, and one effective strategy for tackling it is to provide language training for employees. In this article we look at why this matters, backed by figures and examples that show how the loss of talent can be reduced by investing in staff language skills.
Talent: losing it costs twice as much as keeping it
Skills shortages and job mobility are realities that companies face today. According to a report by the consultancy Mercer, losing talent costs companies 213% of the annual salary of the departing employee, taking into account the costs associated with recruiting, hiring and training new staff. In other words, losing an employee because they find a different job opportunity costs companies more than twice what it would have taken to keep them. These figures are revealing and underline how urgent it is to put effective strategies in place to retain your most valuable professionals.
Languages, an essential tool
A study by the human resources firm Randstad notes that 70% of employees consider the chance to learn and improve their skills a crucial factor in their decision to stay with a company. Language training not only strengthens employees’ language skills, it also gives them a valuable set of abilities they can apply in international settings. Who would not want to speak more languages but has no time to study them? Training within the company, which is also subsidised through FUNDAE (the Spanish state body that funds workplace training), as we have seen in other articles , is crucial when it comes to languages.
If the big players do it…
Companies that lead the way in loyalty and talent retention have embraced language training as a key strategy. Google, for example, offers language classes to its employees as part of its professional development programme. This not only strengthens the company culture, it also allows employees to communicate efficiently in a global environment, improving collaboration and productivity.
Diversity and innovation
A report by McKinsey reveals that companies with greater ethnic and cultural diversity in their teams are 33% more likely to outperform their competitors in terms of profitability. Language training contributes to diversity by making it easier for employees from different backgrounds and nationalities to work together. This not only enriches the company culture, it also drives innovation by bringing diverse perspectives together.
Training, training and more training!
In short, language training is emerging as an essential component for building loyalty and retaining talent in an increasingly competitive business environment. Companies that invest in developing their employees’ language skills not only improve their ability to operate globally, they also foster a workplace enriched by diversity. The loss of talent can be reduced by taking proactive measures, and language training stands out as an effective strategy for meeting this challenge and securing a sustainable future for companies in today’s job market. And remember that with ALOS we can manage and set up whatever language courses your staff need: online, at your premises or at our language centre in Valencia. And thanks to FUNDAE, it may even be free!