This document looks at how one company saw employee satisfaction increase as a result of a new approach to training and development.

Assumption Life, based in Moncton, New Brunswick, is a major provider of insurance and financial services. In 2001, the company had a modest training budget and was seeing little return on that investment.

The company decided to follow a 70/20/10 ratio for training, where 70 percent of learning occurs through informal, on-the-job methods that include modelling, practice, and exposure; 20 percent is through more focused learning, supported through coaching and mentoring; and the final 10 percent is through external training, when required as a last resort.

Employee satisfaction grew and, in 2011, the employee turnover rate was less than five percent.