While it may seem contrary to logic, spending money on effective training for your employees actually increases your bottom line. So if you’re interested in seeing higher profit margins for your business this year, take a long hard look at the employee training programs you currently offer and see where you can spend a little more money to make them a whole lot better.
There are many reasons effective training programs are beneficial to employees:
- Increase job satisfaction
- Keep employees engaged
- Help employees build new skills
- Increase employee motivation
- Help employees feel more confident in their roles
- Position employees for promotions
- Boost company morale as a whole
What about the benefits companies see as a result of providing regular professional training?
When companies make good training available for all employees, they:
- Retain their employees longer
- Improve productivity and performance
- Are able to promote from within
- Attract new talent
- Build a better reputation
- Increase their sales numbers
- Reduce unengaged and under-engaged employees
The fact is that unengaged and under-engaged employees cost companies a lot more money than properly training their employees in the first place.
Good employees can become unengaged or under-engaged in their roles over time if they become bored, feel trapped, feel undervalued or if they think there’s no room for growth. These issues can be overcome with an effective training strategy.
Professional development opportunities show your employees that you care. They prove that you’re invested in their careers and that you value their contribution to the team. They demonstrate that hard work and learning new skills are the steps to advancement.
No one ever starts a business with the end goal of having a poorly trained workforce or one that’s not engaged and doesn’t care about its mission statement. Because corporate leaders want their employees to be focused on company and personal growth, they rely on the learning and development process to support everyone. Success is measured in many ways, one of which is employee retention and the right training program positively impacts retention.
If you’re suddenly faced with a workforce that’s suffering from low motivation and company morale hence an under-engaged or unengaged workforce. Should you just let them go and recruit a new team?
Between the search and training process along with the risk that they might not be what you need along with the 6 to 9 months of productivity loss while they get up to speed and productive, providing ongoing training and professional development programs become more attractive and definitely add to the bottom line of the company. Keeping your employees satisfied and engaged through effective professional development opportunities from the minute they’re hired and continuously throughout their employment pays huge dividends.
Understanding the value of training overall and then reviewing the additional value of virtual training offer companies an opportunity to save money and increase profitability. Choosing the right virtual training solution will further the value by providing data on what, how and who the training program impacted.