Your employees are your biggest asset since they get the required work done so your organization can meet its objectives. Effective training designed specifically for your organization can provide your employees with essential next-generation skills while bringing with it a host of business benefits.
I have outlined some critical reasons why organizations need to invest in employee training.
- Support succession planning - Providing ongoing employee training and development supports succession planning by increasing the availability of experienced and capable employees to assume senior roles as they become available. Increasing your talent pool reduces the inherent risk of employees perceived as “irreplaceable” leaving the organization. Areas of training that support succession planning include leadership, strategic decision making, effective people management, and role-specific skills.
- Increase employee value - Effective training can be used to “up-skill” or “multi-skill” your employees. Up-skilling involves extending an employee’s knowledge of an existing skill, providing more experts within a subject area. Multi-skilling is the process of training employees in new or related work areas to increase their usability within the organization. Employees with diverse skill sets can perform a variety of tasks and transition more easily into other roles within the organization.
- Reduce attrition rates - Investing in the development of your employees can reduce attrition rates. Well-planned training can provide career pathways for employees making retention within the organization rather than seeing them seeking next-level opportunities elsewhere. Another positive is a reduction in recruitment costs.
- Enhance operational efficiency - Training your employees can increase their efficiency and productivity in completing their daily work tasks. Training can also help your organization achieve greater consistency in process adherence, making it easier to project outcomes and meet organizational goals and targets.
- Exceed industry standards - Training your employees in industry-standard best practices could also assist you in building your reputation, giving your competitors a run for their money! Many businesses operate in saturated markets, so often it’s the small things that will set your business apart from the rest.
(Article by Emmanuel Mukula)
