When we asked them for feedback, they said that they feel their skills are outdated and that they would like to learn new skills to work better and stay motivated.
However, our company has doubts when it comes to training and return on investment. Should we invest in training activities and in what ways would that help us?
A: Employers often face a conundrum when it comes to training activities. You are already investing a lot in an employee, so why would you want to spend extra money on training? However, the value that a trained employee can bring to the company is immense, outweighing all the cons. You should most certainly invest in training activities and here are three reasons why:
1. Training your employees improves performance and reduces costs
Short-term savings occur when employers choose the no-training route; however, in the long-term this might be harmful for your employees.
Due to changing trends in today’s economy it becomes pivotal for employees to be up-to-date with necessary skills.
Training is important to make clear to employees what is required of them and why. Instead of repeating the same mistakes over and over again, which leads to increased costs, employees can become more efficient and effective.
2. Training your employees encourages employee loyalty
A company that spends time and money on an employee is highly valued in the long run. Nowadays, employees don’t stick around with companies for too long.
Turnover costs, as a result, are very high. 7 in 10 professionals want to work for a company that has career growth prospects, encourages new ideas, and provides training opportunities. Through training, employees feel grateful that management has thought about furthering their skills.
This will not only promote loyalty, but also increase employee motivation and establish a happy workplace. You could use performance evaluations as a time to figure out which skills your employees need, individually, to further their career.
3. Training your employees increases customer satisfaction and revenue
Training isn’t only about improving job-related skills; it’s also about enforcing soft skills such as communication, assertiveness, emotional intelligence, critical thinking, etc. Soft skills are especially important when dealing with customers.
Customer-facing employees need to know how to handle every situation, and for this purpose role-plays and scenario based trainings are ideal. The digital era has given consumers a voice like never before. Minor tales of customer dissatisfaction might ruin the reputation of companies, as they are spread over the internet at lightning speed.
You can use training to make sure that your employees display high quality customer service which leads, in turn, to an increase in customer satisfaction and revenue for the company.