As a member of senior management do you often wonder – ‘what if you train an employee, and they leave? All the money and effort you spent on them – would it be a waste? So why train them at all?’
The answer to your musings is quite simple – Train them well and keep them suitably engaged and they WON’T leave your firm.
An anonymous research suggests that the US spending on training grew by 15% in 2017 (highest growth in seven years) to over $70 Billion.
Here is why so many companies are increasing their support towards training; and you should too:
Encourages loyalty: Employees will be more loyal to your company if your care for their personal growth and development. A survey by CareerBuilder states that 35 per cent employees feel that increase in on-the-job training and development opportunities is a strong reason to stay loyal to their company.
Betters performance levels: If your employee receives the relevant training, s/he will be able to deliver better results and thus improve the company bottom-line
Ensure consistent sharing of information: All your employees get equal access to information, relevant to the business, through the training sessions.
Allow you to hire from a wider talent pool: An effective training program allows you to hire a wider range of employees, and then develop them over a period of time, rather than looking for exact talent matches.
Allow you to maintain a competitive edge: Through employee training, you keep a company competitive by keeping your people up-to-date with the ever changing business needs, skills requirements, and complex external environments.
Requires you to supervise less: Well-trained staff members need less supervision, hence fewer man hours go to waste.