4 Reasons to Make Training Your Employees a Top Priority in 2020
A company’s strength lies in its ability to continuously rely on qualified employees. Although employers often focus on recruitment and employee benefits to find talents, they forget to invest in developing employee skill sets throughout their careers. Yet, employee training is an essential part of any good HR strategy. Here are 4 reasons to make it a top priority.
1. Rely on Your Own Personnel
Every employer dreams of having enough variety of talents at their disposal to cover all eventualities: resignation, retirement, creating new and innovative positions, etc. Thus, a company impedes its own operations by not helping its employees improve their skills. In order to respond to its own needs, it must make education an integral part of operations. Through continuing education, the company can maintain the skills at its disposal and avoid gaps in talent. A training plan allows you to foster your employees’ professional development while anticipating their needs. There are many options: conferences, seminars, e-learning, and even inter-company training. You can also train your employees internally, creating your own educational modules. That way, you will provide your employees with skills that perfectly match your needs.
2. Keep Your Employees Motivated
We won’t lie to you: if you don’t provide an employee with growth potential, they are very likely to leave you. To decrease your turnover risk and improve employee dedication to the company, you need to help them meet their goals. By giving them the opportunity to improve, you are contributing to their professional development. Beyond simple rewards for their qualifications, this shows your employees that you believe in them and their potential. It will also help them develop the personal skills that they need to succeed, like self-confidence. Continuing education also opens the door to future promotions or more responsibilities. This makes your employees more ambitious and invested in their work. They will want to give their best to better satisfy their employer.
3. Save Money
Since the recruitment process costs the company money, retaining your best employees is essential. Training your employees both improves their motivation and saves you money. It is more cost-effective to focus on improving the skill sets of employees who already work for you than spending lots of time, energy, and money on recruitment. According to entrepreneur Nathan Resnick, CEO of Sourcify, the cost of recruiting an employee equals 6–9 months of their salary, which is more expensive than training. So, it is more lucrative to use an internal training program, which also helps you keep your employees.
4. Stay Competitive
When you ensure that your employees’ skill sets are improving, you stay competitive no matter what. The professional world is always changing, so it is essential that your employees feel qualified to complete their tasks. With continuing education, you give them all the tools they need to succeed in their position and take on new professional challenges, such as the increasing use of technology. This makes your employees more efficient, improving the overall productivity of your company. It also sends a good image of your company to applications. This is a great way to attract top talents without seeking them out, and then keep them.