Here are five reasons why investing in employee training pays off for your business.
In many organizations, human resources are labeled as the most valuable asset. Yet, you'll occasionally hear a few snickers from skeptics.
Opponents of the employees-as-company-assets mindset believe that more than a label, managers need to treat employees in more meaningful ways to really show value for the gem they have in their hands. This is why managers need to look after their employees' training and development not only to increase the latter's productivity at work but also to engage them in ways that acknowledge them as more than just a number in the organization.
Here are five reasons why investing in employee training programs is good for your business.
1. It helps attract and retain great talent.
By training your staff through employee development programs, you might overcome major hurdles in the hiring process and employee retention that many organizations experience. For one, employees regard training initiatives as one way of improving their craft based on the premise that such programs are educational in nature.
By sponsoring sales training programs, for instance, your salespeople can gain new or additional insights to improve their selling skills as well as develop their self-confidence and positive attitude at work. Needless to say, your reputation as a good employer that cares about your employees' professional development will also be enhanced. As you help your employees further their skills and achieve personal growth, you create a goldmine of talent, which can give your business a market edge over competitors.
2. It identifies which employees are worthy of promotion.
Trained employees can form your pool of candidates for possible future promotion as they have developed certain levels of competence over time. With this pool, you need not look further for qualified candidates for managerial or executive posts in your organization, which, incidentally, are best given to someone promoted from within the organization.
As these employees are highly familiar with the business operations and organizational structure, you can be certain that they understand and are capable of complementing the goals of the company.
3. It increases employees' level of engagement.
Training your employees is a great way to take their mind off of their usual work for a short period of time. Employees who are not given opportunities to participate in other productive activities, such as those offered in training courses, are prone to become less motivated and happy at work.
Your employees are also likely to be more loyal to your company, seeing that you are willing to expend resources for their attendance at conferences or enrollment in specialized courses. The bottom line is that your willingness to invest in your employees' training and development will likewise inspire them to invest as much hard work as they can into your business.
4. It translates into savings for the company.
Employees who receive good quality training emerge highly skilled, creative, and confident, thereby increasing their efficiency and usability at work. To put things in perspective, the most effective training programs are those that empower employees to become multiskilled – extending their skill set across various areas.
It then becomes easier for companies to tap employees with diversified skills in performing a variety of functions or in transitioning them to other related roles within the organization. In return, employees feel empowered having expanded roles and responsibilities in your organization.
5. It helps shape the future of your organization.
As you make employee training and development programs part of your organization, you will find the need to update your offerings continuously. You have to think ahead about how you should be designing or refining your training methods over the long term to make them more responsive to employees' needs, interests and goals.
You'll also need to make sure that your organization is abreast with the current trends in the industry and make an assessment whether they warrant a change in your business culture or brand of customer service, in which case, a new training framework should also be put in place.
Employee training and development should be a shared responsibility among employees, managers and the organization. When planned and implemented correctly and consistently, the benefits gained can spur considerable growth at both individual and organizational levels.