Training and development is an opportunity for employees to build upon their skills and knowledge and develop both personally and professionally, but why is it essential to your business?
When it comes to employee performance, the more training employees receive the better able they are to perform their job role effectively. Any issues or difficulties an employee may encounter within their role can be addressed and improved quickly and efficiently. It is also paramount then that any training completed by employees must be relevant to their job role and individual needs.
By ensuring that training and development of employees is strategically prioritised within a business they can expect to benefit from an increased return on investment (ROI). ROI can be measured from saved time, increased productivity and increased sales. With employees receiving training based on their job role and individual needs they will see an increase in their own abilities and confidence which in turn will reflect on their productivity within the workplace.
Employees that receive the necessary training to enable them to develop will have a higher satisfaction rate than employees who have to seek out their own training out of working hours. Investing in employee training will help your employees to feel valued and part of a team, which will, in turn, increase their loyalty to a company.
Training will help employees gain new skills and develop professionally, which will see their confidence grow within their role and encourage them to promote internally, which will help increase retention rates.
Millennials love to learn
The Millennial generation – born between 1980 and 2000, are currently entering employment in huge numbers, and by 2020 they will account for over 50% of the workforce. Over the next ten years they will transform the workplace; their career aspirations, long term goals and needs. They differ vastly from the baby boomers that have gone before and this means that successful businesses will need to adapt now or risk being left behind by the new generation of workers.
Millennials feel that lifelong learning is the key to happiness and they want to experience as much training as possible and companies that don’t offer development opportunities are in danger of losing staff quicker.
Keep up to date with technology
Due to the number of technological changes that occur, one-off training programmes prove insufficient, it is, therefore, paramount that ongoing training for employees encompasses all technological advances that may affect their job roles, failure to do so will see a company miss out on opportunities and ultimately fall to their competition.