The world is ever-changing and presents new ideas, skills and technologies everyday for a better living experience. Be it new softwares for the smoother functioning of a company or the invention of a device that makes production more cost-effective – there is so much to look forward to every passing day. This emphasizes the need for companies to be aware of relevant applications to be able to stay up-to-date with industry learning standards.
When an employee comes onboard, he/she comes with a particular skill set that needs to be polished in order for them to become a valuable part of the organization. Training employees is one of the best ways to help them learn precise skills and ensure their continuous development. This helps in improving their overall work performance which goes on to give companies an edge over their competitors.
The recent COVID19 pandemic has pushed everyone to work from the safety of their home. This has increased the emphasis on online training or eLearning for employees. For this we have cloud-based Learning management systems(LMS) that make the executing and tracking of training content easier. An LMS comes with a host of impressive features and is very cost-effective considering its long term benefits. An excellent example of this is the Absorb LMS, which effectively takes care of all your learning needs regardless of the size of the organization.
Let’s look at the benefits you will be missing out on if you’re not training your employees:
1. Improves employee performance
The biggest benefit of training employees for relevant skills is that it boosts their performances and increases their work productivity. Providing all employees, whether newly hired or existing ones, with adequate learning and development opportunities gives them a better understanding of their work responsibilities. With better knowledge, employees feel more empowered and confident.
2. Increases motivation
There are always better jobs out there for employees to turn to. But it’s important for them to see their jobs as a growth in their career. An organization invests in the career and personal growth of an employee by offering training opportunities. This leads to employees feeling that the company values their contribution and wants to ensure they continue to upskill. This highly motivates them and leads to greater job satisfaction.
3. High employee retention
In today’s fast changing world, the difference between the success of any two competing firms can be determined by their employee turnover. According to a recent survey report, it was made clear that almost two-thirds of employees are willing to quit their jobs because of not being offered workplace training opportunities. Since training provides potential for growth for an employee, it builds a sense of loyalty in them towards the organization. It also leads to employees finding their jobs more fulfilling; thus making them stay longer with the company.
4. Highlights weaknesses
Training employees helps not only in the advancement of their knowledge, but also in identifying any shortcomings they may have. With every employee shouldering a host of responsibilities within the company, it could get difficult to identify any possible weaknesses. Training brings everyone to the same level and highlights these weaknesses. Help can then be provided to the weak performers to get them at par with everyone else.
5. Improves company reputation
Companies that provide learning and development opportunities to their employees gain a reputation for promoting a knowledge-rich culture. When hiring new resources, this helps in attracting candidates invested in growing and bettering themselves. Such candidates prove to be assets for the company in the long run.
A company gains a big return on investment by presenting its employees the skill set they need to advance in their career. A skilled workforce is better equipped for achieving its targets, making it a win-win situation for both the company and its employees.