Your investment in employee training and development is a critical aspect of your company’s current and future success. Failure to make this commitment is akin to not upgrading your equipment, yet still expecting increased productivity.
As noted by the American Society for Training and Development, the chance for ongoing learning is one of the top five factors employees want to experience at work. In one recent survey, the inability to see progress in this area was cited by 40 percent of respondents as the leading reason top talent leave their employer.
Benefits of a Robust Training Program
It may seem difficult to justify the time your employees spend in training, but the ultimate payoff is well worth the up-front investment. You save time in the long run, as the skills employees develop pay dividends in terms of process improvement and performance enhancement.
- Your talent pool is strengthened. A strong training and development program helps individual employees live up to their full potential. Having skilled, competent workers enables you to confidently hire and promote from within.
- You build engagement. Providing learning opportunities is a highly effective way to reward loyal employees and stimulate motivation. Taking time away from their day-to-day job reenergizes people and gives them a fresh perspective on their work.
- Teamwork and synergy grow. As employees participate in training with colleagues from other departments and functional areas, they develop working relationships and learn to leverage new resources. The more successful your company becomes as a result, the more it benefits everyone.
- Recruitment and retention are enhanced. A-level talent is seeking growth and development opportunities. You’re more likely to attract and retain high-performing employees if you offer advancement. Employees looking for their next career challenge are more likely to stay if they feel they can grow within your company versus outgrowing it.
- Cross training improves flexibility and efficiency. This can be enormously helpful in terms of scheduling and covering absences. Cross training also fosters interdepartmental collaboration as employees learn to appreciate the challenges faced by their coworkers.
- Knowledge transfer succeeds. It’s critical to share knowledge among your staff. If only one person has a specialized skill, it can be very difficult to recoup that knowledge if they suddenly leave. Spreading this knowledge around is like diversifying your investments.
Essential Program Elements
Here are some of the essential aspects of creating a learning-centered culture and environment:
- Senior management buy-in: Collaborate with your leadership team to ensure that your program is aligned with the needs of your company and its marketplace. Be sure senior management understands the benefits of training and development and “walks the walk” in terms of supporting learning initiatives.
- Relevant learning models: Studies have shown that up to 70 percent of learning occurs informally as opposed to more traditional, classroom-style programs. Replicate and utilize real-life conditions in your program design. Consider business simulations, role playing, coaching and mentoring. This interactive approach helps people to learn by doing.
- Track and measure results. Establish clear metrics by which you can judge training results, track and measure performance outcomes, and continually modify and improve your program as needed.
The recruitment and workforce development experts at Premium Staffing can partner with you to create the most effective and realistic training program for your company and its unique needs. Contact us today to learn more.