Ongoing staff training and development could be one of the best investments your business ever makes!
Staff training and development pays major dividends: improved staff morale, greater productivity, reduced turnover … and many more.
Yet during challenging times, some employers reduce training, or even scrap it completely. This is a classic example of false economy!
This article contains 7 ways in which increased staff training and development sets your business apart.
1. Employee morale, satisfaction and motivation
Research shows that when staff are learning and improving, they feel much more positive towards their employer. In turn, they’re more satisfied with their role in the organization, and they’re usually more motivated to do a better job also.
Staff training and development therefore directly benefits your organization by producing more motivated and productive employees who are improving your organization’s profitability.
2. Reducing skill gaps
Ongoing staff training and development reduces the gaps in employees’ knowledge, allows them to multi-skill and thereby makes them more valuable to your organization.
This improves your organization’s competitiveness, allows for succession and progression and results in a far more effective team.
3. Improving employee performance
Staff training and development motivates staff, makes them more productive and can even increase innovation within teams.
Better trained staff are more capable and willing to assume more control in their jobs. In addition, less supervision is required. This in turn makes for a more productive and effective team, allowing management to focus on more strategic tasks.
4. Keeping up to date with industry trends and changes
Regardless of your industry, the pace of change is increasing relentlessly. To keep up, you and your staff need to stay up-to-date with the latest developments and innovations in doing business.
This often means learning new technology, complying with new regulations, and even developing whole new strategies to address new threats and opportunities.
5. Staying competitive
Staying competitive is a great reason to continue up-skilling your employees. Remember your competitors are progressing too.
Improving your employees’ skills ensures your business will be able to continue competing in its industry, continue employing staff, and continue to grow.
6. Retain good employees
The best employees will be looking for the next big challenge. If they can find this with your organization, they’ll probably stay with you. Staff training and development increases the chances of retaining your best staff and reducing employee turnover.
Knowing that their company is investing in their future often instills a greater sense of loyalty in employees. Knowing they’ll be continually improving with you, gives them a reason to stick around.
7. Proving you care
Investing in ongoing staff training and development programs gives employees a sense of belonging within the team. Showing employees that they’re highly valued is a very effective way to display appreciation to staff.
Staff training and development can even provide an effective tool for bridging communication gaps, reducing conflict, and reducing harrassment or discrimination claims. For example, training that relates to understanding personality types, thinking in different ways, or educating staff on appropriate workplace behavours can all provide tangible benefits in these areas, showing how much you care about the well-being of your employees.
There are many reasons why improving staff training and development is incredibly beneficial to an organization. Although courses are sometimes costly, if they are effective in changing staff behaviors, they provide major benefits and an amazing return on investment (ROI).
The benefits of making a happy, healthy work environment will appear in your bottom line in no time!