Why Businesses Should Invest in Employee Training

Why businesses should invest in employee training

Employee training provides a wide range of benefits for workers and employers, such as improved company morale and talent retention, saving money, and increasing revenue. Here are some benefits employers can expect when they invest in employee training.

1. It helps attract and retain great talent.

If you train your staff through employee development programs, you might overcome significant hurdles in the hiring process and employee retention. For one, employees regard training initiatives as one way of improving their craft based on the premise that such programs are educational. One study found that when properly planned, 92 percent of employees who partook in a training program saw a positive effect on their engagement.

Sponsoring sales training programs, for instance, means your salespeople can gain new or additional insights to improve their selling skills and develop their self-confidence and positive attitude at work. Needless to say, your reputation as a good employer that cares about your employees’ professional development will also be enhanced. As you help your employees further their skills and achieve personal growth, you create a goldmine of talent that will give your business a market edge over competitors.

2. It can identify which employees are worthy of promotion.

Trained employees can form your pool of candidates for possible future promotion because they have developed certain levels of competence over time. When you have this existing talent pool, you need not look further for qualified candidates for managerial or executive posts in your organization. 

These positions are often best given to someone promoted from within. Existing employees are familiar with the business operations and organizational structure, so you can be confident that they understand and are capable of complementing the goals of the company.

3. It can increase employee engagement.

Training your employees is a great way to take their minds off of their usual work for a short period of time. Employees who are not given opportunities to participate in other productive activities, such as those offered in training courses, are prone to becoming less motivated and happy at work.

Employees provided with learning opportunities are also more likely to be loyal to your company when they see that you are willing to expend resources for their attendance at conferences or enrollment in specialized courses. Another SHRM study proves this, as over three-quarters (76 percent) of surveyed employees were willing to stick with a company that offered continuing learning and development opportunities. These results demonstrate employees’ desire to improve their craft. 

The bottom line is that your willingness to invest in your employees’ training and development will inspire them to invest as much hard work as possible into your business.

4. It translates into savings for the company.

The most effective training programs empower employees to become multiskilled, extending their talents across various areas.

It then becomes easier for companies to tap employees with diversified skills in performing a variety of functions or in transitioning them to other related roles within the organization. In return, employees feel empowered by taking on expanded roles and responsibilities in your organization.

5. It helps shape the future of your organization.

When making employee training and development programs part of your organization, you will need to update your offerings continuously. Think ahead about how to design or refine your training methods over the long term to make them more responsive to employees’ needs, interests and goals.

You also need to ensure that your organization is abreast with the current trends in the industry and assess whether they warrant a change in your business culture or brand of customer service. If that’s the case, a new training framework should also be put in place.

Employee training and development should be a shared responsibility among employees, managers and the organization. When planned and implemented correctly and consistently, the benefits of this program can spur considerable growth at both individual and organizational levels.

Employee training and development should be a shared responsibility among employees, managers and the organization. When planned and implemented correctly and consistently, the benefits of this program can spur considerable growth at both individual and organizational levels.

How to invest in employee training

Here are a few different ways to implement training in your business.

Use LinkedIn Learning subscriptions. 

Online learning platforms, such as LinkedIn Learning, are a cost-effective way for employers to train employees easily. These platforms use insights from outside industry experts on topics that span a variety of subjects, like business and technology. They’re a way for companies to provide elevated training for their employees without having to create new and original content themselves. 

Companies can use these subscriptions as supplemental learning materials or incorporate lessons as part of the training program’s curriculum. Alternatively, they can use the learning platform as an autonomous solution for workers to strengthen their skill sets independently.

Start a learning and development department.

Creating a human resources department focused on learning and development effectively strengthens and invests in employees’ skills. In turn, this boosts employee engagement and retention. Having a department like this in place can be a big selling point when hiring new employees. 

A learning and development department shows that a business is genuinely interested in its staff and willing to put resources into smart, sustainable opportunities that empower employees. The department can develop a program best suited for its employees by conducting surveys to determine what they want most and uncovering gaps in the business.

Create mentorship opportunities. 

Mentorship programs are an effective way for companies to attract new employees and connect workers with their counterparts in a sort of teacher-student relationship. Through mentorship, employees at all levels can strengthen their skills and feel empowered by partnering with a professional in their field who can offer guidance and advice. 

Mentorship programs can be structured in a formal or informal one-on-one format, or in a group setting led by one mentor. These programs can reoccur as often as participants like, whether weekly, monthly or quarterly.

How to invest in employee training

Here are a few different ways to implement training in your business.

Use LinkedIn Learning subscriptions. 

Online learning platforms, such as LinkedIn Learning, are a cost-effective way for employers to train employees easily. These platforms use insights from outside industry experts on topics that span a variety of subjects, like business and technology. They’re a way for companies to provide elevated training for their employees without having to create new and original content themselves. 

Companies can use these subscriptions as supplemental learning materials or incorporate lessons as part of the training program’s curriculum. Alternatively, they can use the learning platform as an autonomous solution for workers to strengthen their skill sets independently.

Start a learning and development department.

Creating a human resources department focused on learning and development effectively strengthens and invests in employees’ skills. In turn, this boosts employee engagement and retention. Having a department like this in place can be a big selling point when hiring new employees. 

A learning and development department shows that a business is genuinely interested in its staff and willing to put resources into smart, sustainable opportunities that empower employees. The department can develop a program best suited for its employees by conducting surveys to determine what they want most and uncovering gaps in the business.

Create mentorship opportunities. 

Mentorship programs are an effective way for companies to attract new employees and connect workers with their counterparts in a sort of teacher-student relationship. Through mentorship, employees at all levels can strengthen their skills and feel empowered by partnering with a professional in their field who can offer guidance and advice. 

Mentorship programs can be structured in a formal or informal one-on-one format, or in a group setting led by one mentor. These programs can reoccur as often as participants like, whether weekly, monthly or quarterly.