Why invest in employee training and development?
You may be thinking of training fees as a cost factor, but there are multiple benefits to an effective training and development program. Here are some reasons why this is such a worthwhile investment:
1. Adapt to change
With new technologies popping up seemingly every day, companies need to adapt quickly. Training and development give workers the ability to pick up new skills and knowledge and to embrace change more readily, which will likely make transitions in your company smoother.
2. Achieve your business goals
Ideally, your employee training and development strategy should align with your corporate goals. Tailoring your training content to these objectives and giving your staff the corresponding skills makes your organisation more likely to achieve its goals.
3. Enjoy better staff morale
By the same token, if staff recognise that you are dedicated to their professional growth, they tend to feel more appreciated and valued. This, in turn, will motivate them to do their best and put in extra effort where needed. Ultimately, this makes for a positive and more productive work environment.
Related: How to Motivate Your Employees
4. Boost your employer brand
Investing in your staff’s growth is a clear commitment to the people you’re employing. Such a signal is likely to have a positive impact on your employer brand, making top talent keener to work for your company.
5. Retain talent
Once you have top personnel on board, it’s key to keep them. And workers are more likely to stay at their company if the organisation invests in their development. In other words: a training and development program is a strong incentive for employees to remain committed to their company, thus reducing your turnover rates.
6. Grow leaders
Training programs often include leadership components with the aim of nurturing emerging leaders in an organisation or helping existing executives hone their skills. Growing your own leaders from within through effective training and development can reduce the need to hire externally when leadership positions open up.
7. Improve performance
It has been shown that one of the main benefits of employee training and development is better individual and collective performance. When your workers are equipped with the necessary knowledge and skills, they become more efficient in their roles, leading to improved productivity and higher-quality overall output.
8. Reduce mistakes and errors
Proper training minimises the occurrence of errors and mistakes associated with tasks requiring specialist knowledge. This is especially important in industries with a strong focus on safety and compliance, such as manufacturing or health care.
Related: Personal development: 11 ways to support your employees
How to approach training and development?
When designing your corporate training strategy, keep in mind these eight steps towards an effective staff development program:
1. Identify needs
The first step should be to identify what exactly your company needs and what potential gaps there are that could be filled by training programs. A good way to ascertain this information is through employee and customer surveys, performance reviews and KPI monitoring to see where your organisation falls short.
Related: How to Conduct an Employee Evaluation
2. Consult with experts
Many companies don’t have their own in-house training experts. If that is you, consider consulting with an external professional to get advice on how to put together your ideal training plan. You can also hire industry experts to produce your training materials for you.
3. Decide on delivery methods
Once you’ve decided what you need, think about how you want to provide it. Training delivery methods range from in-person and on-the-job to self-paced online courses or regular video meetings. The format you choose should always suit the content and preferences of your specific learners. You may even opt for a range of different delivery formats, depending on the topic.
4. Set objectives
Clearly explain to your staff what the goals and objectives of your training development program are, and why they should participate. A written training policy document is a good tool to this end – it’ll help your workers get a clear idea of the purpose of their learning journey and give them a road map to track their progress.
Related: Employee Key Performance Indicators: A Guide to Setting and Measuring Them
5. Create custom content
Every company is different, and every employee within that company is different. Off-the-shelf training only goes so far because not everyone requires the same training, even within the same department. So, for the best outcome, try to tailor your training content to the unique needs of each employee group to ensure it is relevant and applicable to them.
6. Make it engaging
Naturally, people will lose interest if the course content is boring. Your training materials should, therefore, be engaging and interactive to keep your staff motivated and interested. Practical exercises, case studies and incorporating real-world scenarios they can relate to are great ways to ensure active participation. What’s more, employees tend to be more engaged when their manager plays an active role in their development.
7. Offer ongoing support
This may surprise you, but training doesn’t end with the completion of ca course. Offer your employees ongoing support and resources relating to their new skills, and give them plenty of opportunities to practice and apply what they have learned. This approach will reinforce acquired content and ensure it is retained long-term.
8. Measure effectiveness
It’s important to know whether your training is effective. Metrics such as improved performance, lower error rates and positive employee feedback enable you to assess the impact of the training and development program on your staff as individuals and on the organisation as a whole. After all, you need to be sure that what you’re doing actually works!
Read more: 5 Steps to Creating an Effective Training and Development Program
Employee training and development are clearly integral components of any successful, thriving organisation. The benefits far outweigh the investment costs and can have a lasting impact on your business. Skilled and satisfied workers are sure to drive your overall growth, reputation and success. So, try to make people a fixture in your budget and investment plan.
