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Workplace training can be an extremely cost-effective way to expand the skills and knowledge base of your team. Compared to the costs of recruiting new team members, training existing staff can fill a skills gap at a fraction of the cost. However, despite the obvious benefits, many businesses still underestimate the importance of staff training.
There are significant benefits associated with workplace training and development. However, there are also a number of common reasons businesses give to explain their reluctance to invest in the skills of their team. The increase in unbillable hours, the costs associated with training and the delivery of poor or irrelevant courses can make some businesses hesitant to invest when they’re not convinced they’ll see a return.
Despite this, we think the importance of training and development in the workplace should not be underestimated. Here’s why…
1. Untrained employees are unhappy employees
At one time or another, most people will have been in a job where they didn’t understand what they were required to do or how to do it. And what a demoralising feeling that can be.
Employees who feel inadequate and unsupported are unhappy. In the vast majority of cases, they are keen, eager and able to help, but they’ve simply not been given the skills or information they need to succeed. As a result, they underperform, make mistakes and end up deeply unsatisfied with their job. Identifying the training need could have helped to avoid this.
2. Every employee has weaknesses
Even the best employees have some weaknesses in their workplace skills. A regular and ongoing workplace training program allows you to easily identify and address the skills gaps within your workforce to better equip your team to work smarter, faster and fulfil every aspect of the role.
Improving the overall skill level of staff also creates a team who are able to take over from one another as needed and work on projects without requiring constant assistance and the supervision of others.
3. You can deliver effective training in-house
Cost is one of the biggest drawbacks of staff training. However, given the rise in online learning, an increasing number of training sessions can be delivered in-house. In fact, in industries such as oil and gas, it can be extremely impractical and expensive to attend courses held off-site. Therefore, on-site training is a good alternative. If you do not have the IT or AV equipment to deliver in-house group training sessions, you can always hire the equipment. That might include tablets, laptops or projectors and presentation aids. What’s more, you can hire them for as long as you need.
4. You can attract the top talent
If you want to be the best at what you do, then it’s vital you attract the top talent. According to one study, companies that offer comprehensive training programs have 218 per cent higher income per employee than companies without formalised training.
Companies that train and develop employees effectively can have an advantage over the competition. They gain a reputation in the industry for investing in their team. Investing in staff also leaves them more likely to feel valued. By the same token, this helps employers that take training seriously retain the best staff.
5. Developing existing staff is the cheapest way to find new talent
Employing new staff involves high recruitment costs and hiring fees. Meanwhile, sourcing new talent internally reduces the costs dramatically. In many cases, it’s much simpler to bring an internal hire up to speed. This is because they already know everything about the company and are familiar with its culture. Ongoing training of existing staff will also make them more eligible for internal promotions and help to create a more engaged and loyal team.
Do you appreciate the importance of staff training but find yourself deterred by the cost? At Hire Intelligence, you can hire the equipment you need to deliver training sessions in-house. Want to know more? Then please get in touch with our team.