Five reasons why organisations should invest in employee training
It is frequently the case that when things get tight in business, employee training is the first layer of expenditure to be dispensed with. Strategically, this is not necessarily the best path to take for an organisation that seeks to make progress in a competitive industry. Why should your organisation invest in employee training during economically challenging times? At TPB Partnership, our answer is that people development could be critical to your organisation’s success in the short, medium and long term.
Historically, your employees were assessed simply on numeracy and literacy. These skills alone are no longer sufficient in uncertain circumstances in which we are experiencing the continuous need to respond to advances in technology and rapidly changing socio-economic conditions
Your employees need to be flexible, adaptable, productive and efficient in the current conditions; and for that they need new skills. These include: communication skills; innovation and creativity; collaborative skills; critical thinking skills; problem solving
Your organisation has to meet its objectives. This means that your employees are your biggest asset because they have to carry out the necessary work. Investing in employee training will provide your staff with vital next-generation skills. Moreover, it will benefit your organisation
Investing in employee training is essential to your organisation for the following five reasons
1. Investing in employee training will increase employee value
Training your staff can be a way of up-skilling or multi-skilling their competencies. In up-skilling an employee you will be extending his/her knowledge of a skill current to them, and you will be providing more experts in a subject. In multi-skilling an employee, you will be training her/him in related areas of work, thus increasing the extent to which he/she can be used within your organisation. Members of staff with broad-ranging skill sets are enabled to execute multiple duties and are better placed to transition to other roles within your organisation.
2. Investing in employee training will support succession planning.
The provision of continuous employee training and people development supports succession planning by making available more capable employees with greater experience who can accede to senior positions as they are vacated. By enlarging your talent pool in your organisation, you will decrease the natural risk of employees who are seen to be “irreplaceable” leaving their roles in your organisation. Training that supports succession planning includes the subject areas of effective people management, strategic decision making, role-specific skills and leadership
3. Investing in employee training will enhance operational efficiency.
Training staff has been found to increase individual productivity and efficiency, which translates generally to increased efficiency for your entire organisation. By training employees you can also increase the consistency with which processes and procedures are adhered to. Consequently, it becomes easier to make projections about satisfying goals and hitting targets.
4. Investing in employee training will help your organisation exceed industry standards.
If you train staff according to industry-standard best practices your organisation’s reputation is more likely to gain credibility, thus making you more competitive within your field. When markets are saturated with competitors, it’s important to provide reasons that distinguish your organisation from the others
5. Investing in employee training will help reduce attrition rates.
Developing your people in a well-planned and structured way can provide employees with career pathways, allowing staff to move up the hierarchy or even sideways. Staff retention rates will benefit from the provision of structured opportunity. Employees will be less likely to seek promotion with another organisation. In addition, recruitment costs are reduced.
Why use TPB Partnership for employee training?
Supported training is at the heart of our core service. What do we mean by supported? Well, from thorough training needs analysis, to tailor made training design and delivery - right through to follow-up coaching and implementation - we want to support our clients to create real change. When a business needs to move things forward and create real shifts in attitudes and behaviours – we want to be part of the whole process.