Advantages of Training - Adding Value to You Organization
Many executives have a jaded view when asked about providing training to employees. They think about the budget and whether it will provide a Return On Investment. The answer is simple: Yes, training can provide a massive return on investment if it is rolled out correctly. The following aspects of training should be adhered to
- Qualified Facilitators/Trainers
- Quality Learning Material
- Accredited Training Providers
- Does the Services Provider understand your industry? i.e the day to day running of the business?
- Is their training content customised?
- Do they provide learning support?
- Does the service provider measure progress? Is an assessment tool used?
- Are you spending money on training to meet budgets or to improve productivity in your business?
There are many benefits for employees and the organisation when training is implemented effectively.
Employees acquire new skills and knowledge. Even with the older staff members, it is important to refresh their skills on a regular basis so elements are not forgotten.
There is an opportunity to learn and address weaknesses of employees. With regular training, a business can easily identify skills gaps within the existing workforce. Then the staff can be trained and fulfil their roles effectively.
Learning is used to:
- improve performance at work
- improve turnaround time
- increase productivity
- increase profits.
There is a wider impact in the organisation through performance improvements, such as:
- job satisfaction
- employee motivation and morale is increased
- employee turnover is reduced
- and the increase in productivity directly improves the profitability of the business.
There are opportunities for promotion and growth within the company, which means the business saves money on recruiting and hiring fees.
By having skilled employees, the organisation is able to stay ahead of competitors. Standing still and using old methods can kill a business, by training your staff and making sure they are constantly advancing, businesses can continue to move forward and remain competitive within the marketplace.
More importantly, risk is mitigated because knowledgeable employees are less likely to make mistakes, resulting in wasteful expenditure.
As you can see, ongoing training is important not just to employee development, but it also affects the success of your business.