Optimizing the impact of your business training and development is the goal of every company. Here are four tips to help you achieve it.
According to surveys, 7 out of 10 people say that business training and development opportunities play an important role in their decision to stay with a company or leave it.
It’s safe to say that companies that offer business training and development are perceived as desirable because their employees will be able to polish their existing skills and learn new ones. This perk does require a substantial investment, but if we bear in mind that having a skilled workforce is one of the most important factors for success, it’s clear that this investment is worthwhile.
Besides, given that 74% of employees in a study felt that they weren’t reaching their full potential at work, HR managers should revisit their training plans and increase and encourage employee training opportunities.
Here’s how you can determine and optimize the impact of your business training and development.
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Get Your Employees Onboard
While offering business training and development is a great idea that will most certainly be welcomed by your employees, it’s still best to talk to them about what they think of the entire concept.
Let’s not forget that many people tend to dislike changes and that there will be people in your organization who will think of training as yet another task added to their already long to-do list. In order to change their perception, you should find a way to explain that training will have a positive impact on their professional development that they will greatly benefit from.
It’s crucial to start a conversation regarding what they need and what types of business training they find convenient. Nobody wants to sit through hours of boring presentations packed with irrelevant information.
In other words, don’t even try to organize business training just for the sake of it – you need to ask your employees what areas of expertise they would like to improve.
Besides that, it’s crucial to allow your employees to learn at their own pace, and you can do that by opting for mobile-friendly training. This way, it will be much easier for them to use their mobile devices for learning whenever they have some spare time. As a result, their learning efforts will be much more effective and efficient.
Finally, to get your employees excited about all this and willing to participate fully, it’s essential to have a proper training management system in place to ensure that all the activities are streamlined and well-organized.
Ensure Employee Satisfaction
As your employees are your most valuable asset, it’s logical that the impact of your business training mostly revolves around them.
The very idea that your organization is willing to invest substantial resources in its employees shows that they’re valued. As a result, this will lead to a positive relationship between the company and its workers.
Satisfied employees are productive, and if we bear in mind that 13% of employees are actively disengaged at work, the math is clear. By helping your workers develop new skills, you’ll not only help them complete their tasks more easily, but also improve their overall job satisfaction and productivity.
And it’s this impact of business training that will save you a lot of money in the long run.
First of all, you’ll prevent employee turnover, a phenomenon that costs employers 33% of an employee’s annual salary.
Secondly, an actively disengaged employee costs their organization $3,400 for every $10,000 of salary.
All these facts and figures show that offering business training and development to your employees is a win-win situation for both parties.
Improve Internal Promotion Opportunities
One of the most important things to consider and highlight when optimizing the impact of your business training is improving internal promotion opportunities.
Again, this is something that’s equally beneficial for both your organization and employees.
Namely, people are more likely to acquire new skills if they know that this can directly affect their job. In other words, the idea of a possible promotion will drive your employees to expand their knowledge.
On the other hand, hiring new employees incurs additional costs and requires onboarding and other challenging and time-consuming procedures. But, if you have eligible candidates for a position among your workforce, then you’ll be able to eliminate all these costs and simply promote one of your existing employees who has the right set of skills.
In addition to that, your existing employees are already familiar with how your organization operates, and these are the people you know you can trust.
Attract Top Talent
The success of your company heavily relies on how skilled your workforce is.
Organizations that provide perks such as regular development opportunities are more likely to attract top talent.
People who are accomplished professionals can cherry-pick employers and don’t have to settle for just any company that wants to hire them. Moreover, you can’t get them to sign for you by simply offering them a big fat check.
What are accomplished professionals looking for?
They look for a company that will help them grow even more and become experts in their field. That’s why you should carefully plan your training and include programs suitable for the professionals that you want to attract.
Similarly, keeping up with the latest industry trends is another factor crucial for the success of your company. Industry leaders are early adopters of novel technologies, and that’s how they thrive and raise the bar for all the others.
Keeping your employees in the loop regarding what’s happening in the industry and preparing them in advance for the changes that will take place is critical for staying up-to-date. Ongoing training will help your organization avoid being left behind and failing to comply with the latest standards.
Generally speaking, such a proactive approach regarding growth and development will improve your company’s reputation and create a positive image of a great work opportunity.
Business training and development is a key differentiator that will give you a competitive advantage and help your company distinguish itself as a leader among its competitors. To make sure that you’ll offer only the best and most relevant training opportunities, involve your employees in the decision-making process.
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