Investing in your people makes dollars…as well as ‘sense’, so here are 5 reasons workplace training leads to productive, happy workplaces.
The most valuable asset a company or organisation has is its people – the human resources that keep the whole shebang running. And, just like any other asset, people need to be regularly invested in to ensure they can work to the best of their capabilities.
This begins with the hiring process and ensuring the right people are brought onboard from the outset, but the most successful businesses also continue investing in their people well beyond getting them into the workplace.
Workplace training, while obviously costly, can have an incredible return on the outlay due to the opportunity it offers in helping a workforce remain as effective and productive as possible. This is even more critical in the current (and future) workplace as technology and changing industrial landscapes mean it’s critical for organisations to get ahead of the curve in terms of workplace training.
So, here are 5 reasons why investing in workplace training is investing in both the future of employees and also the business.
Employee turnover comes at a massive cost to most businesses, and a large chunk of this is not accounted for on the books.
A Deloite Access Economics briefing noted that in the year to February 2022, 9.5% of employees changed jobs – the highest figure in ten years – showing Australian workers eagerly joined the “Great Resignation” wave that raced across the globe.
It’s been estimated it costs as much as 33%of a worker’s salary to replace them, and this doesn’t take into account indirect costs such as time spent recruiting, the time and resources it takes for new employees to become fully functional, and, maybe most important of all, the wealth of knowledge and experience lost when someone leaves.
However, employee retention can improve through workplace training because it shows an organisation is investing in the development of its staff and providing career development pathways.
2. Motivation and Job Satisfaction
Inextricably linked to retention is motivation. Keeping employees motivated can prove tricky, and even in the coolest, most progressive workplaces with amazing breakout zones and free food and fun social activities, let’s face it: at the end (and beginning) of the day, work is still work.
Workplace training can go some way to better motivating employees because it shows the organisation is committed to investing in their present and their future. This, in turn, makes employees feel valued and enhances job satisfaction.
It’s also a clear sign that the company itself believes in its own growth and wants to take its employees along with it.
It stands to reason that a greater degree of workplace training will lead to greater productivity.
Improving the knowledge and skills of employees ensures they are able to offer best industry practice because they’re trained to utilise both the most up-to-date technology and techniques available.
Productivity also improves because a trained workforce is a more efficient workforce operating at its peak given each employee understands their role better and can therefore be more effective.
A standard question many will have been asked in a job interview is along the lines of, “Where do you see yourself in five year’s time?”
While there’s no right or wrong answer to this, what lies behind it is a question that could be linked back to the interviewer: “What kind of programs or training are in place around job progression and career pathways?”
Of course, a candidate doesn’t want a prospective employer to think they’re already one foot out of a job that they haven’t even landed yet, eyeing off a not-too-distant promotion. But in asking the question, it shows the candidate is playing the long game in terms of their commitment to the organisation.
From the employer’s perspective, discussing workplace training opportunities in this way exhibits a forward-thinking mentality that employees want to grow and seek promotion at the right time, and that by having training programs in place, the idea of succession planning is front of mind as a reality of what it is to do business and do it successfully.
Workplace happiness is becoming more and more important, particularly in tight employment markets, as a way of attracting and retaining employees. Workplace training can go some way to improving employee satisfaction.
Sure, there are always going to be some employees who roll their eyes when it comes to training, or who don’t find it as useful as others.
But targeted, insightful and well-thought out training and development can lead to employees being able to work more efficiently because they are across the latest developments in their industry, meaning they feel confident in their roles and are thus able to perform more efficiently.
The flow-on effect of this is less overtime due to the increased efficiency, a drop in errors and the time and resources needed to rectify them, reduced workplace stress and, if the business grows as a consequence, potentially better remuneration, bonuses or non-cash perks such as greater flexibility around working hours. And, we would hope, a fairly satisfied bunch of employees all round.
Gorilla Jobs Can Help
We love what we do at Gorilla Jobs, and while there are challenges, we are always ready to help you as a candidate or recruiting organisation to ensure the best talent ends up in the best jobs. Reach out to us today if you have any questions!