Denise CourtneyWhen it comes to corporate training, happy employees with a wealth of knowledge and skills at their fingertips will never fail to enhance your business and give you a return on your investment.
Here, we take a look at why business training is something you should prioritise sooner rather than later.
YOUR PEOPLE
Building a solid, reliable team is a massive challenge for any business, but it’s without a doubt your most valuable asset. Employees who are well trained and happy in their development are proven to be more efficient, productive and energetic about the work they do. There’s no amount of money you could spend on advertising or PR campaigns that will provide the benefits and revenue of a secure and happy team[1].
In turn, contented staff equates to better retention rates. When staff are happy and feel valued, they stay. Invest in your people and they’ll be the best ambassadors you could ever wish for.
SUCCESSION PLANNING
When you invest in corporate training, you’ll very quickly learn which of your employees are candidates for promotion and which are suited to particular projects. Have they utilised the training they’ve received? Were they enthusiastic in their learning? Talk to them about their experience and ask how they feel it has helped them contribute and progress within the business.
Good training also creates inspiring, visionary and more capable leaders, allowing you to identify the next in line at the helm. It also provides a pool of talent to call on, as and when you need it.
Put simply, training does the up-skilling for you. It takes your workforce to a level beyond good retention rates; it helps you build a world-class team that is fully future proof.
ENHANCED SKILLS AND INDUSTRY KNOWLEDGE
Businesses are facing constant challenges due to advancing technologies and industry development. When your employees have a plethora of skills and knowledge in their armour, they’re able to keep your business ahead of the curve when it comes to competition.
One of the biggest concerns for our clients is spending a lot of money training their employees only to have them move on, and this is a risk. After all, you can’t hold employees hostage if they’ve been offered better opportunities. But training ensures that YOU are the better opportunity. In the words of Richard Branson, ‘train people well enough so they can leave, treat them well enough so they don’t want to’.
COST
The bottom line is that apetition costs money. The statistics speak for themselves: companies who invest in corporate training enjoy a 24% increased profit margin than those that don’t[2].
Of course, there’s no ignoring the fact that training costs money, but if you’re going to accumulate, you have to speculate. Happy, valued staff work harder and produce more bang for your buck than any other resource.
All things considered, the benefits of corporate training are numerous and measurable when it comes to costs, competition and the future of your business. The sooner you stop seeing training as a cost burden instead of the solid investment that it is, the better off you’ll be.
And remember, when you think that you’ve got nothing to gain because you know everything you need to know, “it’s what you learn after you know it all that counts” (John Wooden).
[1] https://www.forbes.com/sites/forbesagencycouncil/2018/04/04/four-elements-of-effective-employee-training/#7ce2b76e1818
[2] http://businesstrainingexperts.com/knowledge-center/training-roi/profiting-from-learning/