Widespread talent shortages have pushed retention and engagement to the top of the HR agenda—because leaders know the cost of getting it wrong.

High turnover rates lead to serious losses for a business, both financial and cultural. An unmotivated and unproductive workforce is both costly and tough on morale.

With the current market conditions, businesses can’t hire their way out of this problem. A better, more equitable, and more cost-effective way is to help your flight-risk employees find a pathway to success and job satisfaction through learning.

A flight risk employee is one who’s likely to leave their job soon, whether due to dissatisfaction in their current job or to better opportunities arising elsewhere, or both.

In a 2023 survey, 70% of employees surveyed were deemed to be a flight risk. Barring family emergencies and other personal life circumstances, the majority of flight risk employees want better career development opportunities, a more meaningful workplace culture, and access to better L&D programs—and they’re willing to leave for it.

When a single employee leaves your company, it costs approximately one-third of their salary to replace them. This includes losses associated with: 

And expenses associated with: 

But the true cost of an employee’s departure starts long before they walk out the door. Disengaged, flight-risk employees can drag down team morale—leaving behind ripple effects that impact productivity long after they’re gone.

Here are a few clear signs that an employee might be at risk of leaving.

It’s important to keep in mind that these signs may be expressed differently in different employees, or not at all. For example, one employee might be less productive than their peer, but this does not necessarily make them a flight risk.

Conversely, a top-performer might feel unsupported and quietly consider leaving. That’s why it’s essential to work closely with people managers to create space for honest conversations and gather real feedback about how employees are feeling day to day.

One of the main factors driving employee flight risk is compensation. Financial stability is a major concern among employees, and many won’t think twice about leaving if a higher paycheck is on the table.

Your business might not be able to compete when it comes to pay. The reality is that there will always likely be other companies with higher budgets that can offer more. What sets your organization apart is what you offer beyond the paycheck. Career growth, skill-building and meaningful learning opportunities can be just as powerful—if not more so—when it comes to retaining talent.

Here’s what a strong learning and development program can do for your workforce:

Research from McKinsey named a lack of career development as the number one reason given by flight-risk employees for their departure. Another statistic says that 94% of workers would remain in their current role if their employer invested in their career development.

Career development can have a life-changing impact on employees, granting them everything from financial stability to career agility to a greater sense of purpose. 

Giving your employees career development opportunities, whether it’s skill development or access to degree programs, can help them feel supported and better engaged at work.

In a recent study, 30% percent of workers reported feeling anxious that their current skill sets would become irrelevant in the next 8 years. Almost half are prepared to leave their current roles if they’re not given the opportunity to reskill or upskill.

Learning programs that provide upskilling opportunities can help calm those fears and mitigate flight risk. Upskilling gives employees the chance to learn new skills that they can apply to their current roles or even move up into more advanced positions, creating a robust internal pipeline of talent at your company.

Companies with a strong learning culture that invest in their employee’s growth promote engagement and loyalty. 

When employees feel that their employer values their growth, their morale, productivity, satisfaction improve, and they’re more likely to want to stay and grow with the organization. 

In today’s economy, the only sustainable solution to flight risk is to invest in employee growth and development. 

Accessible, equitable skill-building and career development opportunities have a direct impact on mitigating employee flight risk. But it’s important to make sure that your organization offers the kind of learning that gives workers the key to the future they want.

This means taking a personalized approach to employee learning and development to find the solution that’s tailored for your business.

Go behind-the-scenes of what employees really want from L&D: Download our latest workforce report to see how employees feel about upskilling, workforce education, and its impact on their view of employers.