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How Training Has Become a Significant Factor for Businesses to Succeed

Posted by: Carly Lake
17/04/2018

In regards to the commercial market at this present moment in time, training companies are thriving above many other industries but is this just a coincidence? The simple answer is NO!

Training is the most beneficial way to drive business success and employee engagement internally as well as encouraging the right personality traits such as competitiveness, drive, knowledge and skill. External training is proven to create a vast increase in results due to the development of human capital. Benjamin Franklin once said “an investment in knowledge pays the best interest” and from the growth of over 150% in the training industry in the last 5 years, this quote makes a lot of sense!

The companies that tend to invest big bucks into their training plans each year are not only the large, global, corporates such as Virgin and Nike, but also companies that have shown significant growth since a strategic training scheme has been undertaken within the workplace. Famous for quoting – “Train people well enough so they can leave, treat them well enough so they don't want to” - Richard Branson is a great example of using training to enhance employee satisfaction and he knows that if the employees are happy then the business will be more successful.

By providing training to employees their working life becomes easier and in turn, more enjoyable. This affects the business as whole because quite simply, if you have a more intelligent, competent and capably equal team it equals SUCCESS. Training is on the rise and should not be undervalued or underrated if a business wants to have an edge over its competitors.

The next question is what does the future have in store?

The future of the current economy is unpredictable, compounded by complex governments and a political mind field, making the global market a volatile place to be doing business. Further, there is a well known and clear skills gap between what employees can offer a business and what employers need in today’s job market. Training however, could well be the saviour of business during this unstable time. Apprenticeships for example, are a fantastic training tool to up-skill young people for specific jobs that the UK desperately needs expertise in. Training employees from the moment they join a company has the potential to save millions of pounds from a company’s bottom line because the skill is already in the company and there is no need to look elsewhere to find the necessary talent. This shows the importance and value of training to a business.

The biggest question I have for you now is, has this article made you think about training your staff and if not – then why not!?




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