Ongoing training for staff can benefit them and also the business and is something most companies should engage in. Here are 9 reasons why.
1) Keep Pace With Your Industry
Virtually every field of work is changing dramatically thanks to technological innovation. That puts most businesses at risk of being left behind by their competition. You may also need to develop your team’s skills to ensure that they comply with internal or external regulations that apply to your industry.
2) Capitalize On Innovations
As noted above, technology is altering the way people work all the time. If you want your business to reap the full benefits of this phenomenon, it’s important to make sure they have the training and familiarity they need to use cutting-edge technology. Your IT department needs to include generalized training for all employees in its mandate.
3) Expose Skill Gaps
As the market changes, you may find yourself unable to take advantage of a new opportunity because no one on your team possesses the necessary skills. This is referred to as a skill gap. You’ll receive more notice of skill gaps and be better prepared to correct them if you have a robust staff development program in place.
4) Stay Ahead Of The Competition
If your team is more skilled than the people working for your nearest competitor, you have to expect that competitor to be actively attempting to close the gap. Constant training and skill development will preserve your lead or help you catch up to other companies in your industry. This piece from Service Care Solutions discusses the benefits of constant training.
5) Maximize The Value Of Existing Training
One-off training is common when you bring a new employee onto your team. If that employee is part of a staff development program, he or she will have the opportunity to constantly practice and update the skills that were imparted during the initial training period.
6) Increase Employee Value And Abilities
Having workers with better skills increases the resources available to the team as a whole. By working constantly to build on what your team members already know, you can ensure that their capabilities are always expanding.
7) Better Job Satisfaction
Staff development stands in a unique position because it benefits the company and the employee in equal measure. Knowing that they are enhancing their professional skills will motivate employees and make them feel more satisfied with their positions. This, in turn, reduces employee turnover by making it harder for competitors to “poach” your employees using training opportunities.
8) Meet More Staffing Needs Internally
As you probably already know, hiring new staff members takes time and money, and you may even need to make multiple hires to find a new employee who’s a good fit with your team. If you’re engaging in staff development, though, you increase the odds of meeting your staffing needs through internal promotion. Elevating existing employees rather than hiring new ones ensures that you get a better match, and an existing employee is already intimately familiar with the aspects of your company that an outsider would take time to learn.
9) Attract More Talented Hires
Besides cultivating your existing employees and increasing their value, a strong development program also makes your company a more attractive prospect for talented individuals. You’ll enjoy a higher standard of applicants and be able to retain them better if you commit to helping them develop their professional skills.