Peruvian companies, particularly medium and large ones, invest significantly less in employee training than their international counterparts. While four out of five companies invest in training young employees, the average investment is only around 1% of total labor costs, compared to the international standard of 4-5%. This low investment is impacting productivity and employee retention.
The low investment in training results in suboptimal employee performance and high turnover rates. Only 50% of Peruvian companies manage to retain their employees, leading to direct costs estimated at 3-6 months of salary per departing employee.
To improve employee retention and performance, the article recommends a robust employee selection process focusing on adaptability and clear expectations. Furthermore, it emphasizes the importance of aligning employer and employee expectations. Strategies for retention include offering development plans, training opportunities (domestic and international), financing for studies, and scheduled promotions.
In summary, the article highlights the urgent need for increased investment in employee training in Peru to improve productivity, reduce turnover, and enhance overall business competitiveness.