No job remains the same forever. Even if jobs never evolved, your employees do. Research shows that employees want to learn, change and grow in their careers. Spend on corporate training has grown to over $70 billion in the United States. Indeed, 87% of millennials say professional development or career growth opportunities are very important to them in their search for a new job.
Despite increased spending, many companies still neglect ongoing employee training. The benefits that arise from it, however, are harder to ignore. Training creates new opportunities for your employees, innovative new ideas for your bottom line and new chances for your company to be a best-in-class employer. If those are reason enough to convince you to invest in ongoing training, read on for the 4 top benefits of doing so.
#1- Huge Motivation Boost
When you invest in ongoing employee training, your employees see it as an investment in them. Not only are you helping your company be successful, you’re giving your employees the resources they need to be successful in their careers. As it stands, 74% of employees don’t feel like they’re reaching their full potential at work. Ongoing training, especially in the HR field, gives employees a reason to keep pushing forward in their work and doing their best. Training as part of your culture can also be a strong recruitment and retention tool. If your company invests in its people with ongoing training, it can and should, become part of your employer brand story.
#2- Identify Vital Strengths and Hack Weaknesses
Ongoing training provides the opportunity to identify any skills gaps in your company and transform as needed - either with more training or a new hire. A recent survey reports over $1 million is lost annually to the skills gap. While ongoing training and development will have some cost, online programs will keep that cost to a minimum. In the end, the investment is worth the return.
In addition, ongoing training empowers your employees to discover what they’re best at and use those strengths. Furthermore, employees who use their strengths every day are three times more likely to report having an excellent quality of life, six times more likely to be engaged at work, 8% more productive and 15% less likely to quit their jobs.
#3- Ignite Job Satisfaction and Engagement
Employee engagement is on every HR leader’s mind right now. Despite the recent focus, only 37% of employees indicated they were very satisfied with their jobs, and 51% were somewhat satisfied with their jobs. In the search to find the right programs to increase engagement, ongoing employee training has become more popular.
In fact, 47% of employees stated that either more opportunities or increased career development and training would kickstart their engagement at work. As you give your employees more opportunities to hone their skills and do their best in the workplace, they are able to take more personal pride in what they do. Ongoing employee training, both online and traditional, is the gateway to this pride.
#4- Transform Skill Retention and Productivity
According to a recent HR.com report, just 44% of HR leaders believe productivity is on the rise in their company. One of the possible reasons is when employees are onboarded—if the company even has a formal onboarding program—they often learn skills they won’t use right away or very frequently. By the time the employee needs to perform that task, the skills have been long forgotten. However, with ongoing training, the employee is given the opportunity to refresh their skills whenever they want or need to. Stop losing your intellectual property to a skills drain.
One of the biggest obstacles to high productivity is stress in the workplace. Fortunately, 48% of workers say that investing more in professional development is one of the highest-impact ways to fight stress in the company. Your employees want to learn and hone their professional skills, training and learning is the perfect way to help them do that!
Did you know that companies with fewer than 100 employees gave only 12 minutes of manager training every six months? For larger companies, employees get even less time. Knowing the benefits employees gain from training, that should be unacceptable. But, because managers are unlikely to get less busy in the coming years, we must explore training options where they are not necessarily required.
Online training courses like ClearCompany’s Talent Success University give employees in the HR field the opportunity to hone and practice their recruitment, onboarding and talent management skills. For all your other HR needs, ClearCompany’s comprehensive Talent Management system has you covered.