Benefits Training Offers for Efficiency & Business Performance
Due to the increasing complexity of workplace strategies and the rapid advances in technology, there is a need for professionals to adopt new skills and adapt themselves to the changes. The best way to embrace these changes is by providing employees with relevant skill development training. This can improve performance, efficiency, and overall job satisfaction of employees.
Sadly, HR non-compliance is often the result of businesses putting HR on the back burner and not quite comprehending the magnitude of consequences this can cause. Business owners generally have to be a ‘jack of all trades’ and take on many roles. This is particularly common for small business owners that have limited resources. This is a key reason HR can sometimes be a low priority. Businesses that experience fast growth are also at risk of HR non-compliance as their HR framework needs to evolve with their business to remain compliant.
Why is training important?
Training represents a perfect opportunity for employees to grow their knowledge base and improve their job skills to become more effective in the workplace. The benefits of training far outweigh the costs. Despite potential drawbacks, training and development provide both the individual and organisations with benefits that make the cost and time a valuable investment. The return on investment from training and development of employees is really a no-brainer.
When an employee becomes too comfortable in their role, they become complacent about their responsibilities. This can put them at risk of being disengaged or experience a lack of motivation. Engaging employees in frequent training, allows them to develop a fresh perspective and embrace new ways of thinking to their professional responsibilities.
Employee training gives staff the opportunity to be reflective of their professional development and can even empower them to be more innovative and creative at work. This can even further encourage them to take risks, helping them feel more confident at work.
So, what are the explicit benefits?
Training allows employees to further develop their skill set and add value to their knowledge to match the various changes in the industry. According to LinkedIn’s 2019 Workplace Learning Report, 74% of employees want to learn during their spare time at work. Taking the opportunity to improve the skills and knowledge of employees not only builds on their professional development – but also positively affects their productivity, which can increase the profits and efficiency of an organisation.
Keeping on top of industry trends and knowledge is essential as employee training can build confidence in tackling challenges that will inevitably occur. The outcomes of training programs can be extrapolated and applied to annual performance reviews, where performance, career progression, and pay can be accurately evaluated. When employees are trained, they will learn to make good, safe, and economical use of the company’s materials, tools, and equipment. Accidents and equipment damage will be minimized, therefore keeping waste costs to a minimum.
Forbes recognised entrepreneur and contributor William Craig says, “Encourage continued learning to develop the potential of each employee further.” Ever noticed that there are many employees who do what’s expected of them but never really go above and beyond?
Putting employees through training that helps develop their skills and knowledge beyond what they already know will encourage them to take on more complex responsibilities. Sometimes people need that little push to realise their full potential. Customers will feel the impact of this elevated service, and it will improve their opinion of the organisation.
Studies from the Gallup Institute have clearly shown that productivity in the workplace improves by more than 8% when employees are put through training. Frequent staff training is a worthwhile investment as employee complacency can cost a company thousands of dollars. This is evident in Gallup Institute studies that reported disengagement at work can lead to 37% higher absenteeism, 18% lower productivity and 15% lower profitability.
Putting employees through training not only helps them realise their value to the company but it gives them a reason to stay, thus reducing employee turnover and accompanying hiring costs. Offering training opportunities promote a positive workplace culture and inspires them to feel motivated and productive when working towards the goals of the business. A report by The EdenRed Group found that 68% of workers think that training and development is the most important aspect of a workplace policy.
Specific and tailored employee training supports positive team morale and job satisfaction. Relevant course training that ties in well with their role, will equip them with the skills and knowledge needed to feel confident in performing their duties and progressing themselves and the business further.
Motivating employees to continue their education, helps them feel inspired to make the most of training opportunities and move forward with their career goals.