The Importance of Training & Development in the Workplace
Training presents a prime opportunity to expand the knowledge base of all employees, but many employers find the development opportunities expensive. Employees also miss out on work time while attending training sessions, which may delay the completion of projects. Despite the potential drawbacks, training and development provides both the company as a whole and the individual employees with benefits that make the cost and time a worthwhile investment.
What is employee development?
Employee training and development are terms often used interchangeably, across sectors, and encompass various employee learning practices. More specifically, employee training involves programs that enable employees to learn precise skills or gain knowledge to improve job performance. Employee development is a process whereby the manager and employee work together to create a development plan. This plan identifies areas to develop or enhance, and ascertains what actions or activities need to be taken to acquire and embed that learning. This development plan is aligned with the organization’s goals and ultimately serves as a template showing skills that the employee requires and how they can go about acquiring them. Now, more than ever, owing to the impact of the 4th Industrial Revolution and the COVID-19 pandemic, learning and development (L&D) in business is taking top priority in the workplace.
One of the biggest challenges faced by business leaders driving the adoption of disruptive technology, is insufficient internal skills when combining technology with technical proficiency. As industries innovate so new technologies emerge, which has a profound impact on education and development. The ability to merge new technology with creative learning methods will ensure that teams learn new skills or reskill dynamically, through a future-oriented approach.
Importance of Training
Training is crucial for organizational development and success. It is fruitful to both employers and employees of an organization. An employee will become more efficient and productive if he is trained well.
Training is given on four basic grounds:
New candidates who join an organization are given training. This training familiarize them with the organizational mission, vision, rules and regulations and the working conditions.
The existing employees are trained to refresh and enhance their knowledge.
If any updations and amendments take place in technology, training is given to cope up with those changes. For instance, purchasing a new equipment, changes in technique of production, computer implantment. The employees are trained about use of new equipments and work methods.
When promotion and career growth becomes important. Training is given so that employees are prepared to share the responsibilities of the higher level job.
The benefits of training can be summed up as:
Improves morale of employees- Training helps the employee to get job security and job satisfaction. The more satisfied the employee is and the greater is his morale, the more he will contribute to organizational success and the lesser will be employee absenteeism and turnover.
Less supervision- A well trained employee will be well acquainted with the job and will need less of supervision. Thus, there will be less wastage of time and efforts.
Fewer accidents- Errors are likely to occur if the employees lack knowledge and skills required for doing a particular job. The more trained an employee is, the less are the chances of committing accidents in job and the more proficient the employee becomes.
Chances of promotion- Employees acquire skills and efficiency during training. They become more eligible for promotion. They become an asset for the organization.
Increased productivity- Training improves efficiency and productivity of employees. Well trained employees show both quantity and quality performance. There is less wastage of time, money and resources if employees are properly trained.
1. Improves employee performance
The prime motivator for employee training is to improve productivity and performance. And when executed well, it does just that. It provides your employees with the expertise they need to fulfil their role and make a positive impact on your business. The skills they learn empower them to deliver a better quality of work with a fast turnaround rate.
It also gives your hires a clear understanding of their roles and responsibilities within your organization. They know their targets and they’re equipped with the tools to effectively meet them.
2. Increases engagement
Engaged employees have an increased level of productivity – it’s as simple as that! Through training, you’re continuously engaging your employees and enabling them to engage back. There is two-way communication, opinions and internal workings are shared, meaning your employees are always up to date with what’s going on. This makes them more emotionally invested. They care about their role and are more willing to commit their time and energy to the company.
3. Improves employee retention and growth
It’s common knowledge that the hiring and onboarding process can be a costly and time-consuming task. And a powerful by-product of increased performance and engagement through training is improved employee retention.
Training boosts a feeling of value in employees. It shows that you’re committed to providing them with the resources needed to ensure they’re doing a good job. In turn, they’re more likely to enjoy their work and remain in your organization for longer. It also nurtures them further in their career within your organization. One of the biggest benefits is that you’ll have more opportunities to hire from within, reducing recruiting and onboarding costs for your business.
4. Consistency in training
Creating consistency within an organization is difficult. But training helps reduce a disparity between your teams. Each employee has a baseline knowledge of their individual and their team’s goals, putting everyone on the same page. Additionally, employees all receiving the same training means they share responsibility and are aware of their role on the team.
5. Tracks employee skills
With eLearning, particularly with a learning management system (LMS), you can track the training your employees have taken. This has two big advantages.
Through insightful reports, you know if your employees are up to date with their training. Reports are a powerful tool if you’re delivering onboarding training or have to prove training has taken place, as is usually the case for compliance training. Tracking your training also helps you to provide better training for your employees. It enables you to identify what they are and aren’t engaging with. So, you can improve your course content based on these insights, ensuring that your employees get better training overall.
6. Address internal weaknesses
A lack of awareness of internal weakness is a hazardous thing within an organization. Training overcomes this as you can educate your employees on important subjects that help overcome and avoid any issues. Additionally, it creates a knowledge-sharing environment – your employees learn from managements’ and each others’ past mistakes and wins. This ensures that recurring mistakes are reduced and your employees know the strategies for success.
7. Happier customers
Perhaps the most impactful aspect of employee training is its beneficial effect on your business’s growth. Simply put, better-trained employees make more productive team members, that serve your customers better. The result of this is that your customer retention increases – happier customers stick around for longer and buy more. This can powerfully fuel your business’s growth.