Too often when things get financially tight in business, the importance of training tends to slip down the rungs…However, this is not necessarily a sound strategic move for businesses trying to succeed in a competitive industry.
Why invest in employee training during economically challenging times? The short answer is because training and developing your employees could be critical to the future success of your organisation.
Training has come a long way. It’s not just about obtaining a University degree or Tafe diploma anymore (and paying large fees to get them). For employees to be efficient, productive and adaptable, there are some new Training Workshops on the market. Interactive and energetic workshops, some no more than 90 minutes long, are the new players on the market.
Businesses can now invest in some fantastic and industry specific training such as:
· Equal Employment Opportunity
· Customer Service 101
· Leadership and Development
· How to Build a Professional Workplace
Your employees are your biggest asset. Effective training designed specifically for your organisation can provide your employees with essential next-generation skills while bringing with it a host of business benefits.
Here are some reasons why you need to invest:
1. Enhances operational efficiency
Training an increase an employee’s efficiency and productivity in completing their daily work tasks. Training can also help your organisation achieve greater consistency in process adherence, making it easier to project outcomes and meet organisational goals and targets.
2. Support succession planning
Providing ongoing employee training and development supports succession planning by increasing the availability of experienced and capable employees to assume senior roles as they become available. Increasing your talent pool reduces the inherent risk of employees perceived as “irreplaceable” leaving the organisation. Areas of training that support succession planning include leadership, strategic decision making, effective people management, and role-specific skills.
3. Increase employee value
Effective training can be used to “up-skill” or “multi-skill” your employees. Up-skilling involves extending an employee’s knowledge of an existing skill, providing more experts within a subject area. Multi-skilling is the process of training employees in new or related work areas to increase their usability within the organisation. Employees with diverse skill sets can perform a variety of tasks and transition more easily into other roles within the organisation.
4. Reduce high staff turnover rates
Investing in the development of your employees can reduce attrition rates. Well-planned training can provide career pathways for employees making retention within the organisation rather than seeing them seeking next-level opportunities elsewhere. Another positive is a reduction in recruitment costs.
5. Exceed industry standards
Training your employees in industry-standard best practices could also assist you in building your reputation, giving your competitors a run for their money! Many businesses operate in saturated markets, so often it’s the small things that will set your business apart from the rest.
HR Central offer a wide range of effective, engaging and cost effective Training solutions for any industry. Call us today for further information – we’d love to hear from you!