Imagine you’re a manager who strives to do right by your employees. You want them properly compensated, regularly recognized and constantly developing new skills. But your hands are tied because the company you work for doesn’t want to invest in employee training. Whether a company realizes it or not, they lose a lot by failing to adopt an employee training philosophy—especially when there’s a labor shortage and companies are competing for talent.
Research shows the companies that provide training and development opportunities to their workforce tend to attract the best recruits. Prospective employees see these companies as having a good reputation and a forward-thinking organizational culture.
According to Glassdoor, more than 80% of employed professionals claimed they would leave their current position to work at a company with a positive reputation. For employers, these are ideal job seekers because they are people who want to better themselves.
Furthermore, companies that don’t make an employee training philosophy part of their culture often experience high turnover. When a company operates under the belief that employees are replaceable, they have it all wrong. When a good employee leaves, a company could spend up to two times that individual’s annual salary on a replacement.
So, let’s go back to the manager scenario above. If your executive team doesn’t consider employee training and development a good return on investment, it’s on you to change their minds. Ongoing skills training creates win-win situations for employers and employees because it:
1. Increases Employee Retention
When your company makes skills development and career advancement part of its culture, employees have a vested interest in the organization, so they’re less likely to leave. As presented in this Entrepreneur article, Go2HR claims 40% percent of employees who don’t receive adequate training end up leaving their job within a year.
2. Yields Consistent Performance
Whether you’re putting together a presentation or fabricating a part, consistency in performance yields quality, accurate work. By implementing a robust skills training platform into your operations, companies can keep everyone on the same page in terms of onboarding and career growth.
3. Sparks Innovation and Drive
When employees learn new things and develop new skills, they tend to approach their jobs in new ways. They feel empowered to make changes that will increase their productivity and performance. Plus, your good employees deserve the opportunity to develop their skills and engage in new challenges or shift their career focus.
4. Creates Cohesion Among Teams
Collaboration is key to the success of any organization. Training that focuses on team building and interpersonal communication breaks down the silo mentality and gets everyone working toward a common goal.
5. Develops a Leadership Pipeline
Bringing in talent from the outside to fill leadership positions isn’t always the best option. Hiring an external person is typically more expensive and time-consuming than promoting from within. By providing your in-house talent with skills training, you can quickly fill leadership positions with people who know the business and are vested in the company.
6. Helps Close the Skills Gap
When it comes to employee promotions, an individual might need additional skills to be effective in their new role. Let’s say, for example, you promoted an employee into management. This individual might be a good leader overall but struggles with resolving conflict among employees. With training, they can become experts in diffusing internal disputes.
180 Skills Training
When your company is ready to prioritize employee training, you need the right skills training platform. If you want a robust, affordable solution that easily integrates into your company, you’ve come to the right place.
Our online skills training system provides everything your company needs to create, grow and retain a skilled, highly loyal workforce. We offer an extensive collection of short-term, competency-based technical, quality, compliance and workplace courses that can get your employees to 100% mastery in their jobs and on the path to advancement within the company.
Ready to bring an employee training philosophy into your business? Request a 180 Skills demo today!