The Importance of Training and Development in the Workplace
Technological advancements as well as changing markets are impacting the workplace and shaping new and exciting careers. Now more than ever, there is a high demand to learn more about your field of work and increase your skill set to better match the world around you.
The importance of up-skilling in the workplace cannot be stressed enough. In short, it helps to expand employees’ knowledge, thus creating a team of people that are extremely qualified and are able to provide a better service to clients or consumers which is essential in a highly competitive market. However, many companies stray away from training and developing their team because of one main reason; the cost.
But recall the classic question; “What happens if we train our staff and they leave”? The response? “What happens if we don’t, and they stay”? Yes, training can be expensive however; if the training is right and relevant the benefits far outweigh the cost.
Referring to their predictions for 2015, Bersin by Deloitte, a leading research and advisory services firm specialising in enterprise learning, talent management, talent acquisition, and strategic HR solutions said, “Organisations with high-impact learning delivered profit growth three times greater than their competitors, Why is this? Simply put – if you can keep your employees current and skilled, you can evolve and perform better than your competitors.”Investing time and money on developing and expanding the knowledge of existing employees increases the future potential for an organisation and secures them a place as a strong competitor within an industry.
Not only are there external benefits in training, but internal as well. Employees who receive training from their employer report feeling more appreciated and challenged than those who do not. Employees are more likely to feel valued if they are being invested in, as training is seen as a benefit. Developing a person focuses on growth and the future, more than an immediate job role does.
Building on current knowledge also reduces weaknesses within a team. Not only are the skills of everyone brought up to a higher standard, but training also helps to eradicate any weak links, those who rely heavily on others. Providing training to employees creates a better balance in the work place, because more employees possess a wider knowledge and a healthy dispersion of work.
There are many ethical reasons to train staff too. The health and safety of a company and its employees should be a top priority in any industry. Programs focussed on reducing workplace harassment, abiding by safety practices and risk management not only improve the workplace, but create a safer and more inclusive environment for all. Being recognised as not only an industry leader but a fair, safe and just industry leader develops a company’s reputation.
Enhancing a company’s reputation is another benefit that training and development offers. Companies that provide extensive training coupled with fast career progression, are more attractive to potential new recruits, especially generation Y, who are seeking new opportunities that come with up-skilling. Companies who offer this ensure increased motivation, dedication and loyalty amongst employees.
Employees remain more involved knowing that they are being taken care of and are being given opportunities that they would otherwise have to seek out themselves. Training gives people the ability to perform more effectively in the workplace, improve on their own skills and the confidence to tackle a changing industry. Plus, training does not need to constantly be external and expensive, devoting small but regular amounts of time and money into training and development has a maximum effect and helps to strengthen a business or company both internally and externally.