The Benefits of an Ongoing Training Program
According to a recent study by the Society for Human Resource Management (SHRM), only 55% of HR professionals had a training budget last year. This is likely due to the common misconception that employee training programs are too expensive. In fact, the long-term benefits of employee training far outweigh the costs of a training program.
Training can help employees develop and maintain technical skills, soft skills, new business procedures, customer service skills, health and safety practices and more. Here are some of the many reasons why ongoing employee training programs are essential for a positive and productive workplace.
Employees want to develop their career and grow within a company. If an employee feels they can’t fulfill their career goals, they are 12 times more likely to leave the company, according to an IBM study. Training, however, demonstrates that the company values its employees and is willing to put the time and effort to help them grow. This not only creates a positive connection of trust with employees, but it also serves as a motivator for employees to do their best work.
Reduce skill gaps
Training provides the means to fill knowledge gaps and helps develop multi-skilled employees. This is especially beneficial when it comes to hiring. It costs far less to train current employees to learn new skills than it does to hire an entirely new employee. Turning your efforts to training current employees is both a beneficial financial solution and a way to help develop your employees’ skills.
Industries are constantly changing, and it’s important that your employees are up-to-date on the latest developments, technologies and procedures. Ongoing training helps employees prepare for these new innovations and gives them the tools necessary to push the company forward.