When is it Beneficial to Invest in Additional Training for Employees?

Henry Ford once said, “The only thing worse than training your employees and having them leave is not training them and having them stay.”  There is not a manager on earth that doesn’t want highly skilled employees working for them.  Unfortunately, many managers do not invest enough time and effort into properly training their employees.  Employees are your company’s most valuable assets so their training is something the company should invest in.

Employee training is something that should happen well beyond the first few weeks on the job.  While adequate training is certainly an important part of the onboarding process, the fact is the training shouldn’t stop once the employee learns the ropes.  Employee training is and should be an ongoing process.  When companies are willing to invest in ongoing training and education opportunities for employees, the employees are more likely to feel valued.  And an employee that is satisfied in their job is more likely to stick around.  So, this begs the question…when is it beneficial to invest in additional employee training?  The answer is “all the time” and here’s why.

It Helps Attract and Retain Great Talent

Employee retention is a huge challenge for many employers and can end up being very costly.  Having a solid employee development program in place can help ensure that employees stick around.  Employees see ongoing training and development as a perk of the job.  This helps to attract better talent and gives your company a competitive advantage over other companies.  Ongoing training also makes the employees feel valued and helps to build loyalty within the company…and loyal employees don’t quit.

It Creates a Pool of Promotable Workers

Hiring managers and upper-level employees from within is always a good idea.  After all, these employees are already loyal to the company and familiar with how it operates.  This is just one of the reasons why it is so beneficial to invest in additional employee training.  Employee development programs help your employees build and strengthen their skill set so they will be better equipped for possible future promotions.

It Saves Your Company Money

Think of a good employee as money in the bank.  A well-trained, confident, and knowledgeable employee is going to do great work for you and produce better results for you in the long run.  Training employees to become more proficient and efficient will end up making the company more money.  Likewise, employee turnover rates will be lower which means companies will save on the hiring process.

Training Promotes Job Satisfaction

Nurturing employees to develop a more extensive skill set tells the employee that you value them and are willing to invest in their future.  Not only will these skills help the employee perform better on the job, but it will make them more engaged in their work.  When companies invest in employee development, the employees are then more likely to work harder for their employer.  Instead of feeling stagnate, employees who are constantly being educated feel more engaged and committed to their work.