Training employees requires investment from businesses. As a result, many businesses shy away from offering training for employees and are not very invested in their professional growth. However, the notion that offering training for employees takes resources away from the business is rather myopic. Employers and employees can reap tremendous benefits from training.
Statistically, businesses that invest in their employees are more profitable than those that do not by a considerable margin. It should be noted that training in this context is ongoing and is not limited to onboarding training that an employer offers to employees to introduce them to the workings of an organization and acclimatize them to their roles. Training here refers to conscious and deliberate efforts to make employees better skilled over time and as they progress in their careers. The question then is how exactly do employers and employees benefit from training?
Benefits Of Training For Employees
Access to quality, remote, and affordable training for employees and certifications has increased considerably in the last decade. Advancements in educational technology mean that people can now access knowledge and information faster and improve themselves over time. Employee training is beneficial to employees in the following ways:
Create A Competitive Advantage
The more skilled and trained you are as an employee, the more valuable you are to your employer. While value is not a question of formal training and certifications alone, showing evidence of your abilities can give you an advantage in the workforce. You can negotiate better pay and work benefits such as paid leave, health benefits, and remote work and may even get to choose your team within the business.
Boost Portfolio
Training will require you to undergo practical sessions and projects to demonstrate your proficiency in the skill taught. These exercises can form a part of your portfolio of work to show competence in a given field. This is even more valuable in instances where you are just getting started in a new industry or transitioning roles within the same industry.
Develop Soft Skills
Education exposes employees to the technical knowledge they need to perform well in their jobs. However, businesses do not need merely functional employees; they need productive employees who are easy to work with. Training is a good way for employees to learn soft skills such as communication, negotiation, and emotional intelligence.
Increase Potential For Retention
Businesses experience downtimes that can warrant cutting costs through employee layoffs. A highly skilled employee with a measurable impact within their team and in the business at large is less likely to be the first choice of a business manager to fire. And even if laid off, a well-trained employee has an increased chance of securing new employment faster.
Increase Productivity And Impact
Training for employees can improve the productivity of an employee within a business. When employees train, they learn better ways of doing things and get exposed to new methods and technologies that they can take advantage of in their work. A productive employee can also build influence that will translate to impactful work within the business.
Job Satisfaction
Employees can derive fulfillment from constant engagement with their employers. This will foster greater performance and consistency among employees. Employees who are satisfied with their jobs are generally happier, which can tremendously impact their personal lives.
Benefits Of Employee Training To Employers
There are many benefits of employee training to employers. Investing in employee training can benefit employers in the following ways:
Reduce Employee Turnover
One of the main reasons why employees leave their places of work is a lack of career development. When employers invest in their employees’ careers, they can get them to stay and grow within the organization. Employees who feel like they have come to a dead end actively seek new challenges or alternative employment outside the organization. Keeping your employees engaged will improve your employee retention rates considerably.
Increase Profits In The Long Run
While employers might have to spend money to implement training programs for their employees, they increase their profits in many ways in the long run. Highly skilled employees can better work in a shorter time, thereby saving resources. Similarly, since employee turnover is low, you would not have to spend money hiring and training new employees.
Build A Dedicated Workforce
Employers who train their staff can build a dedicated community of workers who do not see the company merely as a means to pay the bills. Employers who are trained by their employers reward their employers with loyalty, especially with the hope of gaining more from the employer.
Address Skill Gaps
Employers can use training to address skill gaps within their employees. For example, suppose a business is having issues building a data-driven culture because its employees are not skilled in business analytics. In that case, an employer can invest in an online business analytics degree for its employees. This way, the company can reap all the benefits of data in business and keep the employee committed at least for the period of their education.
Improved Ability To Connect With Employees
Employers who are invested in the growth of their employees and are constantly engaging them can build a better connection with them. Frequent interaction between management and employees through different training platforms allows for team rapport and even creates room for mentorship relationships to develop organically.
Stay Ahead Of The Competition
Employers who constantly train their employers have access to industry trends and best practices before competitors who do not. Highly qualified employees also tend to be more innovative and can drive innovation and changes within the business. The changes do not have to be radical to impact the business’s bottom line tremendously. Simply figuring out a faster way to perform a task can have a great impact.
Regardless of the type of training for employees, whether behavioral or technical, employers and employees must invest their resources in it to get optimal results. If an employee is not committed to their professional and personal development, any efforts made by the employer will be ineffective. Similarly, where employers do not support the efforts being made by their employees to develop themselves, there will be no results.
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