Training and development are not new terms when it comes to employee benefits, both from an employer and employee perspective. When executed correctly they are highly successful for all parties involved and should be a core part of anyone’s career development, regardless of industry. As a business owner, I have seen first-hand how training and developed have increased tenfold in popularity over recent years and for good reason.
For those businesses I’ve worked with at Trade Mastermind and through The Millionaire Mindset, the impact of sector focused training and development is clear and the results speak for themselves.
Based on this experience, below are some benefits of such training and development programmes and why they need to become (if not already) a core part of your company’s and employees’ career development.
Skill Gaps
Covid-19 has only exacerbated this, but in recent years training and development have proven popular as many companies are facing growing skills gaps. In addition to COVID, emerging technologies and a shift in working models, resulting in a new demand for skills, have all been contributing factors. Re-skilling can help you re-train existing employees in these new skills to meet your long-term company goals and stay on top of ever-evolving industries.
Growth Opportunities
By encouraging workplace training and development, current and future employees will see that you are invested in their professional progression. This can not only help you retain existing employees but also help you attract new employees that align with your business goals and take the right top talent to the next level.
Employee Engagement
Employees that are regularly given access to training and development programmes are likely to feel more motivated and satisfied within their company. By offering training your workforce can also expand their knowledge to other departments. This also helps to create connections between different departments and unites the whole company, creating empathy and avoiding the “us versus them” competitive mentality.
Creativity, productivity, and morale
The more your workforce grows in confidence in their skills and abilities, the more productive, creative and innovative they will be. New skills not only boost morale due to your employees feeling more valued and heard but spark new and creative ideas that are outside the box and prove invaluable for your business long term.
Reduced workplace risk
If employees are not trained correctly to use certain equipment and conduct themselves, there is a very high chance you’ll see a rise in the number of workplace accidents. Therefore, training and development programmes that create a clear and comprehensive compliance plan to follow must ensure employees understand how to remain safe in the workplace and minimise risk.
Enhanced relationships with customers
When your employees have received adequate training, they will in turn be better equipped to interact and deal with your customers/clients. As training and development often lead to increased job satisfaction, your employees will be able to provide superior service and benefit from positive interaction. As satisfied workers are happier and more engaged, this positive tone will be reflected in your customers/clients.
Overall, when it comes to training and development it’s a bit of a no-brainer that investing in certain programmes can increase your workforce satisfaction, retainment, productivity, morale and much more. If you don’t already have training and development in place and are not sure where to start, asking your employees is a great way to hear first-hand what skills they’d like to develop. It’s also great for getting to know your employees on a more personal level and finding out what their long-term career goals are so you can help them to develop your training to support their career development.
