When a company first starts out, the staff is pretty slim. In many cases, the founders are the ones responsible for the various tasks. However, if that company is successful then their staff grows, and as the staff grows, so does the importance for continual education.
When people are hired by organizations, they come in with a certain expectation that the environment will be positive and the opportunities will be plenty.
Gone are the days of unwavering employee loyalty. If a company doesn’t do right by their workforce, then their talent will seek other options. Put simply, hiring and maintaining top talent can be difficult in today’s competitive atmosphere.
So how do companies attract (and keep) their talent? There are a variety of ways to do this, but the best is having a good combination of pay, benefits, and growth opportunities.
Incorporating a robust employee training program satisfies at least two of these areas. Not only that, employee training initiatives (be in in-person training or elearning) have proven to be quite beneficial to both the employer as well as the employee.
In 2014, IBM released a paper that detailed the value of training to an organization. In this report, it was found that the best performing organizations put effort into training their staff (84%).
Not surprisingly, it was also noted that investing in staff training initiatives improves the overall performance of the employees. By way of example, a team that is well trained saves an average of $70,000 annually and increases their productivity by 10%.
These tangible ROI metrics for employee training is why we are seeing training programs implemented across a wide-variety of markets. Managers recognize the importance of having a well-trained staff, with 75-80% indicating that they believe effective training is a key ingredient for the success of a project.
If you are ever in the job market and are comparing employers, then perhaps you would do well in choosing an employer that invests into training as this means that they recognize the importance of their most valuable asset – YOU!