Corporate training is big business. By some estimates, employers spent approximately $1,300 annually per employee on direct learning, and this amount is expected to climb.
Why do organizations continue to spend money on employee training? Here are 6 reasons employee training can benefit the company:
One of the benefits to organizational training is an improvement in processes. Employees who are fully trained on company processes save the company time and money. Training reduces waste and expenditures and can prevent damage to equipment, machinery and prevent delays in how work gets completed.
Training processes improve employee productivity.
When employees have the opportunity to engage in specified, effective training programs, they demonstrate greater productivity and a higher quality of work than their untrained counterparts. The trained employee has improved skills and generally has a greater volume of work output.
Many times, one of the biggest reasons employers desire corporate training is to establish a standard procedure. When employees are given a set of expected processes, they become the ‘norm’ and companies can expect a higher level of performance. When processes are put in place, employers can quickly determine the efficiency (or lack thereof) of their company.
Training can reduce the need for constant supervision, and enable employees to work independently. Supervisors are able to assist as needed for specific training, but a general reduction in supervision eliminates costs and increases productivity.
When organizations utilize a standard system of training, the management can be assured that skills are being taught the same way. This can reduce the learning curve for new employees and establish a baseline of skills and processes within the organization.
One of the latest buzzwords in employee management is engagement.
Employee engagement is the idea that employees are fully invested in the process and goals of their job. When employees are disengaged, they not only cost the company time and money, they can cause a ripple effect of dissatisfaction and discontentment within the organization.
One of the most effective methods of improving employee engagement is corporate training. Training allows organizations to educate employees on corporate vision, provides for employee buy-in and improves morale within the company. It demonstrates to employees that they are valued and offers them necessary skills and tools they can use in their current job and any possible future employment - whether they remain with the company or not.
Companies with engaged employees outperform their competitors by at least 147%. There are a variety of factors that are affected by personalized corporate training: absenteeism, employee turnover, complaints and general dissatisfaction. By reducing these, companies can see improved profits, increased employee engagement and elevated efficiency.
Don’t leave your training programs to chance. Use your corporate investment to affect change within your organization by developing a customized training program with proven results. The improved culture within your organization will be worth the investment you make in staff training.