Most people have worked for a company that has offered some type of training and development for their employees. From in-office classes to specialty workshops, it all adds up as an investment in your business, as well as your employees. With current economic conditions, some businesses are making the decision to steer away from developing their most important asset, their employees, because they don’t see the need for it any longer, or they are simply trying to cut costs.
While I can understand the need to cut costs in business, the training and development of your employees is not a good place to start. Why? Consider this: companies that invest in their employees have happier workers who are more confident in their positions and tend to be more loyal to their managers and company overall. I don’t mean that you have to go out and spend lakhs of rupees on every employee you have. I don’t mean that you need to spend countless hours each year in meetings and parties and such with employees. What I do mean is that strategic spending on training and development should be treated as an investment for your business to run better, faster, and smoother, and with happier people.
PCompanies that offer good paying jobs with room for advancement will always garner a massive amount of interest in their open positions. But, in the hunt for top talent, anything you can do to establish your company as a great place to work is going to pay dividends. One way is to offer employee training and development. This will enable employees to excel in your business as well as their chosen field. This can be as simple as offering in-office training for better pay, advancement opportunities, or bonuses.
Those businesses out there that offer on the job training and development for their workers see more motivated candidates for their open positions. Knowing that there is room for advancement and room to improve themselves is going to be a big draw for potential employees. Having that opportunity there in front of them also gives them the chance to become more engaged in their position, the company, and generally be a happier person at work.
So what types of benefits are you going to see in your business if you start to invest more in your employees? There is a long list of benefits that you will enjoy from this simple action, and here are a few of my favorites:
Motivation: As I mentioned previously, motivation goes way up when people know that they can move up in a company. They want to perform better and show that they are ready to learn new things to gain better positions in your business.
New Technologies: Offering training in a new technology that pertains to your field is key in keeping your business current, competitive, and on top of the latest market trends. It will ensure that you and your employees know how to run with the rest of the pack and stay competitive in the business world.
Lower Turnover: When employees know that their company cares about their career, and is willing to offer training and opportunities to improve themselves and advance, they tend to stick around a bit longer. This means less hiring and firing for you, and more time doing business and making money.
Lower Risks:Offering specific training in the workplace, such as sexual harassment prevention, can mean less risk for you when hiring new employees, and keeping the old ones. This has the potential to allow your business to run more smoothly, with less hiccups or problems in the long run for you.
Satisfaction: Along with lower turnover and increased motivation, when employees are trained well they become happier, more confident, and have higher overall satisfaction doing their jobs. If you can enable all of your employees to feel this way, you have just created a great working environment, and your employees are more likely to stay with you, and not be on the lookout for another job.
Image: Your business image means a lot to you, but, it also matters a great deal to your employees as well. When your employees are trained and feel that they can continue to grow with you, it gives your business a better image in their eyes and everyone else’s. You’ll find that your business will become known as one that cares about its employees and ensures that they are not only happy in their job, but, happy overall in their life as well. When employees know that their company cares about their career, and is willing to offer training and opportunities to improve themselves and advance, they tend to stick around a bit longer. This means less hiring and firing for you, and more time doing business and making money.
Sure, some of these sound a bit corny, but they are all true. You will quickly find that making this investment in your employees will translate into so much more for you and your business.
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