Currently, few would doubt that employee training is crucial in any company and that it should be a permanent process. Employee training does not consist of the temporary application of “catch up” programs but must be integrated into the internal culture of the organization as a daily practice. The incorporation of innovation and efficiency habits
Currently, few would doubt that employee training is crucial in any company and that it should be a permanent process. Employee training does not consist of the temporary application of “catch up” programs but must be integrated into the internal culture of the organization as a daily practice.
The incorporation of innovation and efficiency habits in the company implies the implementation of permanent training programs, with incentives and benefits for the employee, but also with concrete results in productivity and competitive advantages that are reflected in the finances of the companies.
In the past, when someone finished their education, at any of the existing levels, they felt trained to work all their lives on what was studied. Today that has changed a lot. In fact, if we pay attention to what the statistics indicate, most of the jobs we know today are going to disappear or change dramatically in a few years.
Given this reality, only the option of continuous training remains to evolve along with the labor market, but believing that workers are the only ones affected, and therefore responsible for facing the described scenario, is a bit naive.
Companies also have a high dose of responsibility in the training of their human capital if they want to enjoy the advantages of having capable workers and officials.
Training Is Cheaper Than Hiring
According to several business studies, the costs of hiring a company with high turnover can consume up to 12 percent of total business spending. If you take into account that many companies leave the hiring of specialized consultants, these costs increase significantly, since they must consider the benefits of the latter.
On the other hand, by opting for growth policies and staff training, promoting development within the organization, in addition to employee loyalty, it is possible to efficiently reduce the hiring costs assumed in past times.
Employee Training Attracts Human Talent
Most people prefer those companies where they see opportunities for growth and development. But for this to be possible, organizations must create the right conditions.
In addition to the fact that there is a promotion system, so that workers can climb within the company, it is important that this development is based on the knowledge and skills of those promoted. This is actually only possible if the company promotes training.
Paradoxically, a well-implemented training system not only favors workers who are already inside but also has a very strong attraction for those who want to enter. This is why companies that train their workers have no problem attracting talent to a certain level than training.
More Training Reduces Employee Turnover
For the same reason as the previous point, the companies that support the permanent training of their employees register fewer losses of their human capital.
We must add that this is an issue that shows an increasing trend. What is explained with the arrival of millennials to the labor market? This group highly appreciates those organizations where they can develop personally and professionally.
In addition, employees who feel supported by the company develop more their sense of belonging and job satisfaction, which contributes to less staff turnover.
Employee Training Increases Productivity
It is a proven fact that employee training enhances employee productivity. Above all, in those cases in which the three basic requirements of highly effective training are met:
- Training with a clear purpose for the organization
- Openness to immediately apply what has been learned
- Conditions for maintaining and developing the skills displayed
When these requirements are met, work productivity increases significantly, helping companies to take advantage of the next point.
Trained Employees Generate More Profit
Most companies are created with the intention of generating employee engagement and benefits (such as an income-driven repayment plan) for all those disengaged employees, in one way or another, participate in their development. This is an irrefutable fact.
It is also a fact that trained workers respond more quickly and efficiently to problems or errors that may arise in work activity, which reduces the time and money to invest in order to achieve productive results.
Just to share a piece of information, according to HR Magazine, companies that systematically invest in training can make up to 24% more profit than companies that invest less.