The Importance of Training and Development in the Workplace
The Importance of Training and Development in the Workplace
Training isn’t just important to any company, it is vital.
Although there are many categories of training such as management training and or sales training, employees with Project Management skills are an important asset to any organisation.
But what does training and development, mean to your organisation?
Training presents a prime opportunity to expand the knowledge base of all employees, but many employers in the current climate find development opportunities expensive. Employees attending training sessions also miss out on work time which may delay the completion of projects. However despite these potential drawbacks, training and development provides both the individual and organisations as a whole with benefits that make the cost and time a worthwhile investment. The return on investment from training and development of employees is really a no brainer.
So what are the benefits?
Improved employee performance – the employee who receives the necessary training is more able to perform in their job. The training will give the employee a greater understanding of their responsibilities within their role, and in turn build their confidence. This confidence will enhance their overall performance and this can only benefit the company. Employees who are competent and on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry.
Improved employee satisfaction and morale – the investment in training that a company makes shows employees that they are valued. The training creates a supportive workplace. Employees may gain access to training they wouldn’t have otherwise known about or sought out themselves. Employees who feel appreciated and challenged through training opportunities may feel more satisfaction toward their jobs.
Addressing weaknesses – Most employees will have some weaknesses in their workplace skills. A training program allows you to strengthen those skills that each employee needs to improve. A development program brings all employees to a higher level so they all have similar skills and knowledge. This helps reduce any weak links within the company who rely heavily on others to complete basic work tasks. Providing the necessary training creates an overall knowledgeable staff with employees who can take over for one another as needed, work on teams or work independently without constant help and supervision from others.
Consistency – A robust training and development program ensures that employees have a consistent experience and background knowledge. The consistency is particularly relevant for the company’s basic policies and procedures. All employees need to be aware of the expectations and procedures within the company. Increased efficiencies in processes results in financial gain for the company.
Increased employee engagement – Boredom is a productivity and morale killer. Employees who are not challenged by their role can develop feelings of dissatisfaction and negativity towards the company. By offering regular employee development and training programs the staff will feel challenged and valued resulting in stronger company loyalty and increased productivity.
Increased productivity and adherence to quality standards – Productivity usually increases when a company implements training courses. Increased efficiency in processes will ensure project success which in turn will improve the company turnover and potential market share.
Increased innovation in new strategies and products – Ongoing training and upskilling of the workforce can encourage creativity. New ideas can be formed as a direct result of training and development.
Reduced employee turnover – staff are more likely to feel valued if they are invested in and therefore, less likely to change employers. Training and development is seen as an additional company benefit. Recruitment costs therefore go down due to staff retention.
Creating future leaders – Offering training and courses to your staff means they can nurture their natural abilities and curate their career progression in the organisation. By helping your staff to upskill in areas that will help the business you’ll be able to create staff who can fill the roles you need filling rather than outsourcing or recruiting.
Increase in Profit- According to a Gallup study, companies that engaged in employee development reported a sales increase and profit doubling compared with those who did not offer any employee development. Offering employee development and training at your organisation is an investment that pays off.
Enhances company reputation and profile – Having a strong and successful training strategy helps to develop your employer brand and make your company a prime consideration for graduates and mid-career changes. Training also makes a company more attractive to potential new recruits who seek to improve their skills and the opportunities associated with those new skills.
Training can be of any kind relevant to the work or responsibilities of the individual, and can be delivered by any appropriate method.
For example, it could include:
- On-the-job learning
- Mentoring schemes
- In-house training
- Individual study
Blended learning is becoming more and more popular and as a company we have seen a definite increase in this method of training over the last year. Blended Learning is the effective combination of online learning and classroom learning. Many of 20|20’s clients prefer their staff to learn on-site rather than attend off-site training programmes – especially in industries like oil and gas where it is often very impractical to attend off-site courses. On-site learning programmes like the blended learning approach, allow 20|20 to train more people working across a larger international footprint than just the UK. This makes it much more cost-effective and allows for greater process consistency.
The importance of training your employees – both new and experienced – really cannot be overemphasized.
First published on 2020 Project Management and edited for Asset College 12/3/21.