Training staff involves planning, resource allocation and effort. But taking the time and money out to provide for employee development is a prime opportunity – it can provide an invaluable return on investment, place your company ahead of its competitors, save you money and increase your employees’ performance. Here’s why you should invest in staff training and development.

Stay ahead of competitors

Training programs will almost always contribute to setting organisations apart from others. By upskilling your workforce, employees are equipped with fresh perspectives and the latest skills, which leads to innovation and productivity. As well as this, having well-trained staff keeps a company flexible in the marketplace, where employees can adapt to changes, set trends and keep ahead of the pack. Well-trained employees also contribute to giving your business a good reputation in the market, which can further attract future clients and help expand your business.

Keep current with the latest technology changes

Technology is constantly changing, so keeping staff up to date and digitally literate is essential. By making training a regular affair, companies are motivated to identify technology knowledge gaps and address them with training solutions. Consistency improves knowledge retention, and ensures employees are well-equipped for the technological demands of the modern workforce.

Attract and retain top talent

Competition for the best talent out there is growing. By offering training and employee development programs, you are more likely to attract the best candidates. Doing this shows that you’re willing to invest in your employees’ careers, which can help put your company as a top choice for the top talent.  By investing in your employees, there is a sense of value created, and employee turnover decreases, meaning less time and money is lost in the hiring process. Employee satisfaction increases at the same time, where employees feel appreciated and challenged by training opportunities.

Save money and time

Having knowledgeable staff means work is completed faster and to a higher standard. It is difficult to quantify exactly how much a company will save, both financially and in time from having well trained staff. However, we know in any business getting the job done well and right the first time pays dividends.

What are you professional training priorities for 2019?
References:

https://www.skills.sa.gov.au/Employers-business/Training-your-staff/Benefits-of-training-your-staff
https://smallbusiness.chron.com/importance-training-development-workplace-10321.html