The Importance of Training
Training is essential because it represents an excellent opportunity for employees to grow their knowledge base and improve their job skills to become more effective in the workplace. Despite the cost of training for employees, the return on investment is immense if it is consistent.
Why is training important in the workplace?
The importance of training goes far beyond checking off a to-do task for your employees. A high-quality, comprehensive training program gives employees a greater understanding of your organization’s processes, procedures, and goals.
It also provides them with the knowledge and skills they need to be effective in their roles.
Equipping employees with relevant and ongoing training is one of the best ways to increase productivity and performance. Organizations that invest in employee training experience 11% greater profitability than organizations that don’t.
In today’s ever-changing and competitive job market, employees also note that they’re eager for ongoing training that helps them stay up-to-date in their roles and make progress in their careers. A study by Glint found that ongoing training and development is one of the top factors that employees say defines an exceptional work environment.
Employee training can positively impact your company’s culture because it improves job satisfaction, engagement, and retention. By embracing training and development, organizations can dramatically reduce employee turnover and increase their talent ROI.
The purpose of training
Some organizations only rely on training during periods of employee turnover or when there is a significant change in the business. Top-performing companies, on the other hand, understand that it’s essential to deliver consistent and ongoing training. Let’s take a look at some of the most common training objectives.
Deliver essential knowledge: Training is one of the most effective ways to equip employees with the knowledge they need to be successful. This includes company and role-specific training.
Equip and improve skills: Skill development is an essential aspect of every training program because new employees need to learn technical and soft skills. Additionally, seasoned employees need ongoing training to improve — and keep — their skills up to par over time. LinkedIn found that the top skills cited by professionals are:
- Resilience and adaptability
- Technological skills and digital fluency
- Communication
- Emotional intelligence
- Collaboration
Meet compliance standards: If your organization is part of a highly regulated industry such as financial services, asset management, or healthcare, your employees must complete mandatory compliance training. This ensures that employees understand the laws, policies, and regulations they must adhere to.
Navigating digital transformation: Digital transformation has driven fundamental changes across nearly every industry. It’s important to provide technology training for employees so they understand how new tools work and how they help them do their jobs better. This can unlock more significant levels of efficiency, agility, and value for your organization.
Keep teams up-to-speed with changes and updates: Organizations grow and evolve, and your employees need a way to keep up with these changes. Ongoing training ensures that everyone is in the know about new products, services, best practices, and more.
