It may seem overwhelming investing both time and money into professional development and training, however, your investing will ultimately save your business money in the long run. When you provide your employees with opportunities to excel and further the development of their professional skills, what you are creating is a positive company culture. Business’ are more likely to thrive when employees feel valued, as they feel more confident in their career and the skills that they have to offer.
Retaining employees
Many companies today foster a culture of high turnover, recruiting employees for short periods. According to research the average cost of each new employee costs 30-50% of their salary[1]. When you have a business with a high turnover with employees seeking new jobs as they feel their career is stagnant, this can lead to high ongoing recruitment costs.
Many employees desire to develop their skills, but fail to cope with the costs and sourcing of training independently. When employers take the cost and responsibility on themselves, employees feel happier and are encouraged to collaborate more to see the business grow.
Fostering leadership skills
It is easier to identify strong leadership skills in some employees over others, but when your staff are doing small jobs on a day to day basis, you can sometimes fail to see their potential, as they haven’t been given opportunities to excel. Investing into professional training, you offer your employees the opportunities they’re seeking to best utilize the skills they have. This brings value internally to your business, which can then be rewarded to promote greater employee satisfaction.
When your employees feel they have opportunities to prosper and move up the career ladder, they’re more likely to stay long term, whilst developing their skills will also bring greater capabilities into your company.
Innovation
It is also likely that employees have ideas for making processes more efficient and other creative ideas that need nurturing. If an employee was to share these insights, they would have to feel valued and invested in by the company, and secure in knowing they’ll be with the business long enough the see their ideas come to fruition. Innovation is realised the most when employees are confidently collaborating together. Professional training can introduce a philosophy of teamwork and collaboration that, when supported, becomes a natural component of an organisation.
To find out more about the training programmes we offer, and which may benefit your staff and meet your current requirements, get in touch with one of our team today on 01509 889632.
[1] Source:
http://www.adlestropconsulting.com/recruitment_starts_when_the_candidate_joins