Smart employers hire skilled workers. But, some don’t want to offer regular training. Modern work environments are always changing. Technology keeps adapting and evolving. This evolution, unfortunately, leaves many excellent workers far behind.
So, how can a company compete with a less-than-ideal workforce? The reality is pretty harsh.
It’s hard. Even borders on impossible. To break it down further, here’s a comprehensive guide. Let’s call it the Ultimate Guide to Employee Training.
There are significant reasons to invest in employee training. Here, we share five of them.
1. Don’t Lose Employees – It’s Expensive
Bringing on new staff isn’t a light expense. Real-world data backs this principle. A recent survey by the go2HR Society tells us something alarming. Forty percent of workers quit within the first year.
The culprit? A lack of quality training opportunities. The story gets even worse. Data from the Centre for American Progress adds another layer.
Replacing personnel can cost up to twenty percent of their annual salary. That’s for employees earning between $30,000 and $50,000. It skyrockets to a staggering 213 percent for high-level executives. Seize this vital financial investment. Don’t miss the opportunity to invest in your employees.
Industry-leading companies offer practical training. This step keeps the workforce engaged. Basically, satisfied employees stay. On the flip side, replacing employees always comes at a cost. Therefore, make the intelligent business decision. Train your current staff and reap the benefits. Boost the morale. Enhance the work quality. And ultimately, keep these valuable resources – your employees.
2. Trained Employees Work Better
Employee training enhances productivity. It boosts work performance too. Employees can do tasks faster, with top methods. This helps with two things:
Firstly, they do more work within set time limits. This boosts your investments. What investments? The hourly wages paid to them.
Secondly, customers are happy. Why? Services are provided quickly.
3. Trained Employees Set High Standards
However, fast work loses value if it’s poor.
Properly trained employees do quality work. They do it right the first time. So, fewer mistakes happen. This means less time is wasted fixing them. Customers love the great, error-free products and services.
Also, training new employees is important. It gets them to deliver high standards right away. Create an employee training program. This encourages a learning culture in your organization. Over time, it leads to excellent work from everyone.
4. Well-Trained Workers Attract and Retain Clients
Employee training has significant impact. Impact on what? The satisfaction level of your customers. This factor is crucial. It needs your full attention. Customers leaving is always unfortunate. It doesn’t sit well with business health. Retaining existing customers is cost-efficient. It’s often lighter on the pocket than attracting new ones.
When a customer walks away, the hurt runs deep. It’s a two-pronged loss. The first prong is loss of ongoing revenue. The one that customer would have contributed. Second prong? You lose a potential promoter. This customer won’t fetch you further clients.
Now, consider the reverse scenario. It holds the potential for double rewards. A happy customer comes back. That’s your first win. The second win is equally delightful. They can bring you new customers. They become promoters of your services.
Therefore, having a well-trained workforce is beneficial. They can make customers happy. In return, your business can save significant amounts of money. Not just that, you may also experience revenue growth. As an added bonus, your customer base expands.
5. Training Doesn’t Have to Burn a Hole in Your Pocket
Let’s examine the 2014 Training Industry Report. It’s an insightful study. The report mentions striking statistics. A full 28.5% of training hours utilized online methods. These were computer-based technologies. They needed no instructor.
Furthermore, there’s another 29.1%. These were the training hours that deployed blended learning. An effective mix of methods. Employee online training software comes into the picture here. It has made staff training more accessible. Not just that, it also offers flexibility. Flexibility as per the needs and schedules of employees.
Leverage your in-house talent. They possess valuable expertise. They can help create online training modules. Alternatively, consider direct skill-enhancement sessions. People learning from each other, face to face. Or you could hold informal Lunch ‘n Learn sessions. These are simple yet effective. Employees bring their lunch. They eat while a co-worker shares some insight. All these options promote learning. They do so at minimal costs.
Training is Crucial for Success – Undoubtedly
Every thriving organization acknowledges one truth. What truth? The significant value of investing in employee training.
Many reports on workplace change are available. Their observations are noteworthy. These reports highlight a continuous rise. A rise in training budgets, year after year. As technology gallops at a mad pace, changes are inevitable. At the same time, the fight for customer loyalty gets intense. Under these circumstances, a continued rise in training budgets is expected.
Think about it. A well-trained workforce is more likely to bring profits. It makes perfect sense. Would you rather be a savvy business that values training? Or would you prefer to be an organization that doesn’t?
