Today I had a great conversation with an entrepreneur about training. He noticed while working in corporate America that retention is a big problem. Companies spend tons of money educating their employees. They want to introduce the latest and greatest thinking to help their teams be the best they can be. Unfortunately, the employees don’t have time to apply what they’ve learned. More than 90% of knowledge is lost because it isn’t revisited promptly.
I’ve personally experienced this many times. I attend a conference, read an article, or watch something online. The information is great, so I’m excited and can’t wait to put it to use. Then I get back to everyday life. The materials stay bookmarked on my computer or filed in a binder. Usually, I never look at either.
Retention isn’t a new problem, but I think it will become more top of mind for company leaders. With so many people working independently from home, I think companies will be rethinking not only how to promote retention of training but also how to deliver it effectively.
The entrepreneur I talked with has a great idea for a solution and I’m eager to see the customer feedback once he launches an early version of his product.