Mention training to a company and you usually get a mixed bag of answers as well as concerns. From thinking it’s a one-off expense to an ongoing one, most impressions of training are usually associated with costs instead of viewing them as an investment. There will definitely be a cost element attached but training should instead be viewed as the main opportunity to expand the skills and knowledge base of all employees.
Training and Development provide both benefits to the development of the employees and company which makes the benefits to cost ratio a worthwhile investment and is really a no brainer. We’ve compiled just a few benefits that we think prove the needs and benefits of having a proper training program.
- 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.
- Improved employee satisfaction and morale – the investment in training that a company makes shows employees that they are valued. Employees may gain access to the training they wouldn’t have otherwise known about or sought out themselves which enhances their satisfaction and appreciation towards their company
- Addressing gaps – 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.
- Increased innovation in new strategies and products – Ongoing training and upskilling of the workforce can encourage creativity. New ideas can be formed as a direct result of training and development.
- 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.