The benefits of training and development are vast. Training courses improve the effectiveness and satisfaction of your current workforce, but they are also ways to attract and recruit ambitious candidates.
Training isn’t just important to any company—it is vital.
Although there are many categories of training such as management training and sales training, there are general benefits to be realized from virtually any type of education program or policy a company undertakes.
Benefits of Employee Training and Development
- Improved productivity and adherence to quality standards
- Employees develop skill sets that allow them to undertake a greater variety of work
- Improved ability to implement and realize specific goals outlined in a company’s business plan
- Increased ability to respond effectively to change
Productivity usually increases when a company implements training courses. Training across the workforce, from the shop floor to the executive level and in any discipline, can improve:
- Customer satisfaction
- Market share
- Employer branding
It can also lead to reductions in:
- Workplace accidents
- Equipment maintenance costs
- Staff turnover and absenteeism
- Recruitment expenses
A Smart Recruiting Tool
The benefits of training and development also extend to recruiting strategies. Training programs make a company more attractive to potential new recruits who seek to improve their skills and the opportunities associated with those new skills.
The lack of a training strategy to a potential top candidate suggests that the company will fail to meet his or her own aspirations, leading to a lack of ambitious candidates.
What to Look for When Offering Training Programs
A training strategy involves the systematic training and improvement of people within the organization so that they, and the company, can achieve their objectives and both personal and corporate goals. Training strategies vary according to requirements but important components include:
- Team building
- Team development
- Leadership development
Training can be of any kind as long as it’s relevant to the work or responsibilities of the individual and can be delivered by any appropriate method. For example, it could include:
- On-the-job learning
- Mentoring schemes
- In-house training
- Individual study
There is, therefore, a large amount of flexibility that can be awarded to the delivery method of the training strategy, and, if utilized appropriately, this can successfully help to reduce expenditure.
In order to make sure the benefits of training and development are being felt by you and your employees, you’ll want to monitor the effectiveness of the training. Whenever a program is finished, implement an evaluation and assessment of the trainees, as well as the training process. It is only by doing this that your firm will be able to assess the cost and benefit of the money it has spent, delivering training to staff, with confidence.
Communicate Your Training Opportunities
Having a strong and successful training strategy helps to develop your employer brand and make your company a prime consideration for graduates and mid-career changes. Your commitment to training will obviously be transmitted to the career marketplace, including job seekers and recruitment professionals, by means of word of mouth and positive feedback from current and past employees.
Increasingly, your company will be recognized by recruitment professionals who seek to place ambitious candidates within your organization partly on the strength of your company’s reputation (employer brand) – and the strength and quality of your training. Your company’s reputation for recognizing the benefits of training and development will also be built through those educational establishments which advise and guide promising talent toward the job market.
Continue to Strengthen Your Business
Looking for more workplace enhancements? Monster can bring you the latest insights, along with other tips and advice.