As long as your employee is doing their job in a satisfactory way then there’s no need to invest in their further training? No!
Employee training and development allows employees to learn and develop through enriching knowledge, which brings many benefits to both the employee and the business.
1. Employee satisfaction and retention (and therefore less cost to you)
By making your employees feel valued by the fact that you are investing in them, it will make them more satisfied within their role. Studies have shown that employees will leave a job if there are poor training and development opportunities. Therefore, by providing these opportunities, employee retention can be increased. This has an added bonus of costing less to the business, as there is no need to replace your current employees.
2. You will have a more efficient and productive workforce
With training, employees are able to improve their skills and knowledge which in turn will increase their confidence and ability to complete their role. Therefore, they will be able to complete tasks more efficiently. This results in employees being able to complete tasks in a smaller period of time, allowing for more tasks to be given and therefore a more cost efficient workforce.
→ Additionally, this can benefit your customers, as your services can be provided in a more efficient timeframe, therefore increasing customer satisfaction.
3. Employees are able to undertake a wider range of tasks
By enriching employees’ knowledge and training them in a range of fields, it will allow employees to be able to work on a wider range of tasks within your business. This benefits your business as it means you are able to give them a wider range of tasks. This in turn, could result in a reduced need for additional staff in the future, alongside higher employee satisfaction as they are able to gain experience in a wider range of tasks.
4. You will have higher skilled workforce
This brings many benefits. Alongside the obvious of having a more efficient workforce, it can also mean that there can be reduced supervision and the ability to promote from within the workforce in the future. Reduced supervision leaves room for managers to focus on other important tasks and allows the employee to feel more free and trusted. The ability to promote from within will save your business the time and money of hiring new employees, as you can train your employees in a specific skill that you need and look to them for future roles.
5. More prospective employees will be interested in your business
By offering a range of training and development opportunities, your business will become more attractive to prospective recruits who are looking for a role where they are able to improve their skill set and have opportunities that associate with these developed skills.
6. A stronger ability to respond to industry change
By providing ongoing training and development opportunities, your employees will be able to have stronger knowledge of what to do when change occurs. Training will allow employees to remain in the know about industry changes and therefore be able to deal with this change more efficiently.
Overall, employee training and development is an incredibly important part of how you run your business. By investing in your employees, a plethora of benefits will arise and your business and those who work there will thrive.