The Top 10 Benefits of Employee Training and Development

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The Top 10 Benefits of Employee Training and Development

Employee training and development has always (or should be) a focal point of business success. Then two years ago all the employees left the building…and many of them are not going to be returning as working remotely has become permanent for many employees and organizational structures.

So how does a company still create effective and impactful employee training and development programs with a geographical diverse workforce with a multitude of skill sets? Let’s look at the best practices and the top 10 benefits of having a comprehensive employee training and development program.

When it comes to employee training and development, all businesses are different. Here are a few tips to help determine when your employees might need training and what kind:

  • When the company is facing a knowledge gap and needs to stay competitive
  • When performance needs to improve in a certain area
  • When training needs to happen on specific programs
  • When technological updates are occurring
  • When you need to customize training strategies for each employee

What areas do employee training and development programs cover?

  • Computer and software skills
  • Customer service
  • Communications
  • Safety and health compliance
  • Human relations
  • Work ethics

When you put an emphasis on employee training and development, what are the benefits?

  1. Greater Capacity for Adoption of New Methods and Technologies Especially in these days of a larger remote workforce, continual training will ensure that all employees are up to date with the latest technology that the company is using. When new technology is introduced, the learning curve is reduced when everyone is in the same place.
  2. Employee Training and Development Helps Companies Keep Pace with Industry Changes Industry technology is changing constantly. No matter what your business. This makes training so important so that all employees can keep up with the ever-changing industry landscape and make sure your organization stays competitive.
  3. Employee Training and Development increases job satisfaction and morale When a company invests in its employees, the employees feel better about the company they work for. An employee building knowledge which will further their career, making them more marketable helps their morale which makes them more productive. Both the company and the employee benefit.
  4. Building Future Company Leaders As employee training and development programs are held, future company leaders are identified. Leadership talent can be cultivated, but there is an innate component that has to be recognized and fostered. Training sessions are a good way to identify these future leaders.
  5. Employee Training Lowers Turnover With the current unemployment rate so low and employees able to move to a new job pretty much at will, keeping your top talent should be a high priority. Investing time and resources in employee training and development is a great way to reduce your turnover rate. Employees feel valued when you invest time and money in increasing their knowledge base and they feel like they owe it to the company to use that knowledge there.
  6. Employee Training and Development gives a company an advantage to attract high-caliber new talent Just like above, employee training programs can help with attracting new talent, not just keeping existing staff. How does that work? Again, with the low unemployment rate, those looking for a new position can be extremely picky. They will be looking at all sorts of things a prospective company is offering. And they will want to make sure their skills will continue to grow and improve at whatever company they work for. That’s why they will want an employer who offers a comprehensive employee training and development program.
  7. Employee Training and Development helps maintain skills and knowledge Employees want to keep up with what is happening in their field and in their industry. They want their company to stay competitive and they want to stay marketable. So, it’s important that companies offer training and development so businesses can ensure their workforce is the most knowledgeable and their organization is the most competitive.
  8. Employee Training gives your company a Competitive Edge That was just hinted at above but employees with outdated skills even if they DO stick around do not help a company stay competitive in the market. It is important that the company and its staff are trained in the latest industry tools and each employee has the best training for their particular field. That is the best way to keep up with–or ahead–of the competition.
  9. Employee Training and Development Creates Opportunities for Internal Promotions Very few employees will be satisfied with their niche in the organization for years and years. They will want to move up and grow. Or they will move on to another company. This is where training and development is vital. If a company invests in its staff through training and development, it gives them the skill sets to be eligible for the next level positions when they become available.
  10. Employee Training and Development foster Employee Empowerment By offering training and development opportunities for employees, a company is offering more than just new skills and abilities. They are also offering passion, inspiration, a shared vision and a desire to be part of the bigger picture of the organization. That is something much more valuable than focusing on the bottom line.

How then can effective Employee Training and Development be delivered? There are many ways that work with today’s more remote workforce as well as those that bring people together in a more collaborative space.

  • Instructor-led traditional classroom training
  • Technology-driven virtual classrooms - enable employees to train from anywhere but live with an instructor
  • Mobile learning - learning through a mobile application
  • Blended learning - a hybrid of some or all of the models listed above

And what should be in an Employee Training and Development Program? If the company is starting from square one, consider these guidelines:

  1. Target Soft Skills - This was identified as a key training target in 2021 and is expected to be so for the foreseeable future. Developing critical thinking, communication and interpersonal skills will continue to be essential.
  2. Personalize Employee Development - As long as the unemployment rate stays low, employees are going to need to feel valued and appreciated. This will go a long way toward filling that need. Whether it’s in the specific field of work or a plan working toward a promotion, find a way to personalize training as much as possible.
  3. Emphasize Digital Learning - This is of course in response to COVID and the workforce moving more remote. It reduces the resistance to learning if staff knows they won’t be stuck in a windowless conference room for days or even better if they have control over when and where they do the training.
  4. Create a Training and Development Plan It won’t work just to throw a catalog at the company and call it good. Successful training and development require planning and careful decision-making to maximize money, time and resources to get the most out of it. Then the company and the employees see the benefits more clearly.

Closing skills gaps, staying competitive, attracting great talent, motivating employees…companies have so many excellent reasons to have a fantastic employee training and development program. Go get yours started today!

Sources:

https://www.simplilearn.com/benefits-of-employee-training-and-development-article

https://www.getsmarter.com/blog/employee-development/employee-training-and-development-the-benefits-and-why-its-important/