Imagine a perfect world where your business is a great success due to the dedication and loyalty of your staff. They are all experts at their jobs. Providing staff training is the secret to your success. With appropriate training and learning opportunities, your employees are able to develop and contribute better value to the sustainable growth of your organisation.
Training is one of the most significant HR tools that gives businesses their competitive edge. It not only benefits the company but employees gains immensely as well because they are able to learn new skills and contribute more value to the firm, which ultimately enhances their career prospects and progress.
The reason training is such an important component of the various HR tools available is that business environments are continuously changing. In order to survive and thrive, personnel as well as an organisation’s operations need to keep up with the market. Training employees with the necessary skills keeps your company riding the edge of the wave of change.
Training employees really does benefit your business. It will enable your employees to improve their productivity and hence, contribute more to the bottom line of the company. Your employees will be able to use the knowledge acquired from training to identify their weaknesses and work on them. Additionally, they will be better equipped to deal with their tasks and challenges at work, which will also increase their productivity.
According to research, employees that undergo training improve their productivity by as much as 230%, compared to untrained employees. This higher productivity will increase your business output, making the expense of staff training a worthwhile investment.
Your employees are likely to be grateful and will appreciate that you are investing in them. This can improve their motivation because they will feel like a valued part of a work environment which is conducive to progress and growth.
With more commitment to the company, staff will be more dedicated to their job. This will result in tremendous cost saving because of increased employee retention. The loss of even one skilled employee can be equal to the cost of one year’s pay and this is the reason that some companies work hard to reduce the turnover of their employees. By reducing turnover by as much as 70% a business can realize a ROI of 7,000%.
Staff training has tremendous benefits for the whole organisation. It will help your company become more effective and efficient, which in turn will enable you to stay competitive and drive sustainable growth through human capital.