Workplace training is crucial for attracting and retaining top candidates.
By upskilling staff, you will reduce errors and risks, boost workplace engagement, and improve employee performance.
Here is what you need to know about employee training and development.
Boosting Employee Retention
According to research studies, attracting, recruiting, and onboarding an employee costs approximately $7,645.
That is why employers need to focus on retaining their top performers.
Training programs can increase the feeling of value in your staff. They indicate that your organization cares about employee careers, progress, and satisfaction.
Your team members will stay engaged, perform better and, above all, stay at your company. Statistics back me up on that. Namely, 40% of employees who receive poor training leave jobs within the first year. Those satisfied with their careers are 59% less likely to look for a job in the next 12 months.
Reducing the Need for Hiring New Employees
With the right training and certifications, your top performers will be able to take on additional responsibilities. For you, that is an opportunity to reduce both time and money on new candidate onboarding and training.
On the other hand, employees have a chance to climb the corporate ladder. That increases their loyalty to your employer brand. For example, IT professionals who acquire new skills get the average raise of $12,000-$13,000.
Attracting Top Candidates in the Industry
In today’s busy ecosystem, putting your company in front of the right candidates can be challenging. If you do not establish a recognizable employer brand, you are likely to encounter a talent shortage.
While a salary is certainly a deciding factor for many candidates, it is not the only one. Today’s employees need to advance their careers and be challenged in the workplace. Workplaces need to change to meet the growing needs of the modern workforce.
By providing employee training and development programs, you will make your company more appealing to your target candidates. Make sure you build a strong employer brand on your website, social networks, email newsletters, and job postings. Let candidates know how you can help them grow their careers. Also, make your workplace training and development policies accessible to everyone.
Minimizing Errors and Risks
As an employer, you need to build a health and safety policy to support employee wellbeing. Above all, you need to back it up with the right training programs.
For starters, offer induction training. That is the introductory training offered to new staff members. It includes the explanation of standard procedures, such as first aid, accident reporting, using PPE, safe use of workplace tools and machinery, etc.
Providing all employees with first aid and CPR courses is also a good idea. For example, when practicing on first aid or CPR mannequin, they will know what steps to take to save a coworker’s life.
Apart from minimizing workplace accidents and saving employee lives, induction and first aid training programs also improve employee satisfaction. When constantly worrying about their safety, employees are more likely to experience frustration and fright. It impacts their performance, engagement, and retention.
Enhancing Employee Engagement
Just because your employees perform at their best does not mean your employees are satisfied. The lack of morale can cause serious performance issues and burnout. When dissatisfied, employees are more likely to seek new professional opportunities.
One of the main causes of employee dissatisfaction is the lack of training. According to Gallup, 76% of your workers expect you to provide career advancement opportunities.
Moreover, employees that receive workplace training are 90% more productive and 60% more efficient than their peers without certifications.
Gaining Customer Trust
In today’s hypercompetitive business landscape, customers compare various brands before purchasing from them. And, one of the key deciding factors for them is brand reliability. Studies found that 81% of customers emphasize they need to trust the brand before buying from it. Additionally, trust also inspires repeat purchases and brand loyalty.
By investing in employee training and development, you tell your customers that your company has the knowledge and skills needed to meet their expectations. Knowing they are in the hands of certified professionals, your customers will be more confident doing business with you.
Over to You
If you still find employee training and development expensive or irrelevant, these insights will make you rethink your attitudes.
Employee training is a critical business growth strategy. It helps you attract and retain top talent, as well as boost employee engagement and satisfaction.
What are the benefits of employee training for your business?