If you were given the choice between two different doctors, pilots or secretaries — one was trained, the other not—which one would you choose?
What if there was no “up-front” cost for the untrained person, does that change your mind? You still wouldn’t do it? So why do many businesses not recognise the importance of employee training.
Most businesses wouldn’t hire unqualified employees, yet many are reluctant to invest in further training once the worker is employed. As workplace technologies and processes evolve, this lack of effective ongoing training leaves once skilled workers potentially lagging behind the competition.
Don’t get me wrong; training employees costs time, money, and materials. With most businesses claiming they don’t have at least two of those three things.
To combat some of those issues, businesses often use third party training providers. But poor past training experiences can frequently lead to businesses deeming training unnecessary. Sometimes the training was done poorly, the topics just didn’t help or no effort was made to understand the businesses needs. Failed training comes at a high cost, and businesses often don’t want to take that risk.
Tackling learning and development the right way can help you meet business goals, improve employee satisfaction and save time & money.
Five benefits of employee training and why you should invest in it.
1. Losing Employees is Expensive
Employees who feel inadequate, underachieving, or unsupported are unhappy. They aren’t satisfied in their work, which will cause them to underperform, make mistakes, and potential quit. A survey cited by the go2HR Society indicates that 40 percent of employees leave their positions within the first year due to poor training opportunities.
With that in mind, companies that provide industry standard training will have more engaged employees, and therefore, are more likely to retain employees. It costs money to replace staff, so it simply makes sense to train and develop current staff and improve employee retention.
2. Increased Efficiency
Training can be used to drastically improve productivity and boost employee performance. When your employees are able to complete tasks more efficiently, using the most effective methods, there are two immediate benefits to your business:
They complete more tasks in a given period of time, maximising your return on investment (i.e., the hourly wage you pay employees).
Customer satisfaction is likely to be higher when your services are delivered in a timely manner.
3. Less Wasted Resources and Higher Standards
Of course, getting work done quickly loses its impact if it isn’t done properly.
Employees who are well trained are more likely to produce higher-quality output the first time around, thereby minimising mistakes.
This creates less wasted time, potentially less wasted materials and customers delighted with quality, reliable goods and services.
4. Customer Growth
It’s commonly accepted that it’s less expensive to maintain existing customers than it is to win new ones.
Losing customers can be seen as a double loss; you’ll lose ongoing revenue from that customer, and it’s unlikely that they’ll be recommending you to potential new customers.
But it is important to remember that the opposite is also true. Delighted customers not only are they liable to become a return customer, but they are also more likely to refer new customers to you.
So, having well-trained staff that results in satisfied customers can save you money, generate revenue, and grow your customer base.
5. Training doesn’t have to be expensive
Training has become increasingly flexible in recent years with a big push towards online delivered courses allowing the freedom of 24/7 access and reduced costs of travel and potential venue hire.
Previous training packages offered a wide ranging scope, trying to cover as many topics as possible to appear “value for money”. But this method led to the issues previously mentioned, especially the complaint of training not be relevant.
To address this issue, the modular training approach was created. This approach breaks down the training into smaller, individual topics. Allowing businesses to pick and choose only the courses which are needed for them, reducing wasted time and money in the process.