Why do successful companies invest in training?

It is a fast changing world and it is important to catch up! There is a constant need to be competent, well equipped and be updated. Successful organisations do not hesitate to spend time and money to train their employees.

Here are some reasons why they do what they do:

1. Training gives them confidence: Trained employees are more confident than untrained ones. They will do better client service as they are clear on what they are expected to do
2. Increased Productivity: Chances of trained employees to make mistakes is far lesser than untrained staff. As they already acquired the skill set required through training, they will be aware of the risks associated and will work towards being efficient
3. Saves Time: Trained employees work faster because they have already been exposed to the task before, so they do not have to take more time to figure out how to take it forward
4. Saves Cost: Untrained employees will try to learn from trail and error method which will increase expenses which is associated with re-work, over time, stress burn-outs, absenteeism, attrition and re-hire cost
5. Increased Customer Satisfaction: Trained employees will effectively handle customers and find ways to bring in more revenue and expand business. On the other hand, even if the untrained employees are smart, they may not be able to serve customer in the right way. In worst case scenario, this might turn away your potential clients
6. Trained employees are more engaged: There is a positive correlation between training and engagement. Employees feel more empowered and happy when they are trained which makes them stay with the company for more years
7. Improves overall quality: Training a workforce to the highest standards helps to increase product/ service quality and there by make customers happy. Untrained employees might deliver sub-standard results either because they have no access to right information or they did not possess the required competencies

Over $130 billion is getting budgeted every year worldwide for training. It helps to improve performance and efficiency. It caters to the need to gain knowledge, acquire and develop new skills, stay relevant, increase engagement and thereby reduce employee turnover. To set your employees up for success, train and develop them. They will thank you for it!

Cheers!

Jaya