Training isn’t just important to any company, it is vital.
Although there are many categories of training such as management training and or sales training, employees with basic management skills are an important asset to any organisation.
But what do training and development, mean to your organisation?
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 the individual and organisations as a whole with benefits that make the cost and time a worthwhile investment.
The return on investment from training and development of employees is really a no brainer.
So what are the benefits?
1. 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.
2. 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.
3. 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.
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.
5. 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.
6. 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 an addition to the company’s benefit. Recruitment costs, therefore, go down due to staff retention.
The importance of training your employees
Training presents a prime opportunity to expand the knowledge base of all employees, but many employers find the development opportunities expensive.
Employees also miss out on work time while attending training sessions, which may delay the completion of projects.
Despite the potential drawbacks, training and development provide both the company as a whole and the individual employees with benefits that make the cost and time a worthwhile investment.
Need help to upskill your employees or yourself?
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Over the years, WMA has coached thousands of individuals from all walks of life and have guided them with powerful knowledge and proven skills and strategies towards the path of financial freedom.
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