Training presents a prime opportunity to expand the knowledge base of all employees, but many employers in the current climate find development opportunities expensive. Employees attending training sessions also miss out on work time which may delay the completion of projects. However, despite these potential drawbacks, training and development provide both individuals and organizations as a whole with benefits that make the cost and time a worthwhile investment. The return on investment from the training and development of employees is really a no-brainer.
What are the benefits?
Improved employee performance – the employee who receives the necessary training is more able to perform in their job. The training will give the employee a greater understanding of their responsibilities within their role, and in turn, build their confidence. This confidence will enhance their overall performance, and this can only benefit the company. Employees who are competent and on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry.
Improved employee satisfaction and morale – the investment in training that a company makes shows employees that they are valued. The training creates a supportive workplace. Employees may gain access to the training they wouldn’t have otherwise known about or sought out themselves. Employees who feel appreciated and challenged through training opportunities may feel more satisfaction toward their jobs.
Addressing weaknesses – Most employees will have some weaknesses in their workplace skills. A training program allows you to strengthen those skills that each employee needs to improve. A development program brings all employees to a higher level so they all have similar skills and knowledge. This helps reduce any weak links within the company who rely heavily on others to complete basic work tasks. Providing the necessary training creates an overall knowledgeable staff with employees who can take over for one another as needed, work on teams, or work independently without constant help and supervision from others.
Consistency – A robust training and development program ensures that employees have a consistent experience and background knowledge. The consistency is particularly relevant for the company’s basic policies and procedures. All employees need to be aware of the expectations and procedures within the company. Increased efficiencies in processes result in financial gain for the company.
Increased productivity and adherence to quality standards – Productivity usually increases when a company implements training courses. Increased efficiency in processes will ensure project success which in turn will improve the company turnover and potential market share.
Reduced employee turnover – Staff are more likely to feel valued if they are invested in and therefore, less likely to change employers. Training and development are seen as additional company benefits. Recruitment costs, therefore, go down due to staff retention.
Enhances company reputation and profile – Having a strong and successful training strategy helps to develop your employer brand and make your company a prime consideration for graduates and mid-career changes. Training also makes a company more attractive to potential new recruits who seek to improve their skills and the opportunities associated with those new skills.
Training can be of any kind relevant to the work or responsibilities of the individual and can be delivered by any appropriate method.
SmartR is an EdTech company providing skill-based training solutions for individuals and organizations. SmartR applies technology to solve real-world challenges in the Learning and Development industry. SmartR offers online and offline courses covering a wide range of topics that include language learning, business skills, computer science, and personal development.
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