Why Training Employees is a Great Investment

Why Training Employees is a Great Investment

Training is a difficult issue for employers. It is an expense and also takes away from valuable work hours. It is hard to know if the training will stick with employees or if they will immediately forget it. It is also difficult to choose the most effective course. For all these reasons, employers often think twice about training their employees. In fact, there are a tremendous number of good reasons to train employees. Investment in training has a very high ROI, improving productivity, job satisfaction, lowering costs and ultimately driving revenues. Many employers continue to invest in training to power their business for several key reasons and concepts.

Productivity

First and foremost, training is about productivity. Upgrading skills will help employees to work more effectively at their jobs and provide more value to clients. They are faster at completing the tasks they need to and are able to offer a larger variety of potential solutions to clients. Employers can effectively respond to the market by choosing which skills are in greatest demand, then offering training in those areas.

Training in legal or regulatory matters similarly improves productivity by avoiding costly errors. Those errors could result in harsh fines, court cases or just wasted time and effort in an audit. The small investment in training pales in comparison to these outcomes.

Retention and Job Satisfaction

Employers often wonder why they would train employees if those same people have the option of getting up and going straight to the competition. In fact, the truth is the opposite is likely to occur. Firms that invest in their staff attract employees from the competition and retain those that are already employed. Employees will be happy and more productive which will quickly return the investment on the training.

If employees do leave, it will be easy to recruit new ones by informing them of the training opportunities. This drives competition and forces other companies in the market to also offer training.

Software

Productivity software has revolutionized the workplace. CRM, ERP, accounting, and finance tools are also integral to the ongoing operations of a company. The key to these programs working correctly is the amount of data they contain. An ERP system without the ability to track inventory is much less useful. Employees must thus be trained step by step on how to upload the data, track that it is correct and monitor the overall ERP dashboard.

The same process goes for every productivity software or tool. It must first be installed, implemented and customized. However, the arguably more important part of the process is training to get up to speed on using it. Employees need to know how to upload data, organize information, seek insights and turn those insights into actions. Without those steps, the entire investment in the software tool is a waste.

That is why all good software investments are coupled with software training sessions. Whether it is from the vendor or internal personnel, this training is crucial for success.

Safety

Employee safety is one of the biggest risks and liabilities for a business. Companies, where employees get injured, have ongoing high insurance costs and may even have huge one-time liabilities if they are sued or have a major claim. Investing in training reduces injuries and protects against legal liability.

Safety procedures are often extremely technical and procedural. They require memorization and repetition. Firms that invest in training for safety are able to instill these ideas so that employees will truly understand what to do and when to do it.

As a result, employees are happier knowing they are safe. They also are much less likely to miss work and create other costs or headaches for the business.