Did you catch the first part of this two part series on the natural wonders of training? Okay, so there’s nothing very natural about an LMS , but what we’re going for here is that training seems to be the fix-all when it comes to finding a remedy for many of the problems that are trending in the workplace today. Just as coconut oil seems to be the go-to for every problem under the sun, training has proven to be an effective solution for an array of workplace issues.
The Ability to Promote
A recent survey revealed some not so surprising news – the majority of employers greatly prefer to hire and promote internally, but they are unable to do so due to a lack in required skills. When organizations can rely on their current talent supply to fill key positions, it saves sourcing, recruiting and hiring resources. Hiring internally also means that the person filling the position will take less acclimation time, and produce quicker.
The Saratoga Institute estimates that the average cost of finding and hiring someone from outside the company is 1.7 times more than an internal hire.
However, for internal hires and promotions to be a possibility, employers need to start investing in training now, not when they need seats filled. Being proactive about training gives managers options and time to make the right decisions.
Increases Productivity
Do you want to know an industry secret from a pro like me? When people know what they’re doing, they do a better job at it. Seems pretty common sense right? Well there are a ridiculous number of organizations that believe that training isn’t worth the resources. Corporate training pro Kristie Loretta said:
“Whether you present formal workshops or courses to employees or offer hands-on daily training opportunities, you can increase the skill and work product level of your employees implementing ongoing training efforts. It helps individual employees to increase productivity and advance their personal careers while contributing to boost of the bottom line at the same time.”
A study conducted the National Center on the Educational Quality of the Workforce (EQW) found that on average, a 10% increase in workforce education level led to an 8.6% gain in total productivity.
Deeper Knowledge of Your Talent
When done correctly, training and development can be a powerful tool to discover your own workforce. Training can reveal strengths, weaknesses, hidden skills and even vital feedback. This is why every training program needs proper tracking and the solicitation of feedback from the learners. Leaders can then identify talent needs, predict skill issues and improve upon their training methods regularly.
For instance, the training feedback form might empower an employee to ask about further, or specific training opportunities in a field of strength or interest to them. You might never know about this interest, unless they were give the opportunity to inform you. Tim Donnelly of Inc.com offers some suggestions on soliciting employee feedback via surveys or forms:
“Professionals say a mix of quantitative questions — asking employees to rate their satisfaction on a five-point scale, for instance — should be mixed with open-ended questions to gain a mix of anecdotal and statistical information.”
Commitment
99.4% of employees expect to be recognized when they do good work. So it has been established that all employees need recognition and rewards, but how? Learning, development and training are actually a prized incentive among today’s workers. Monique Valcour, professor of management at EDHEC Business School said:
“Keep in mind that in addition to helping employees develop and pursue meaningful learning goals, regular career conversations also help to mark progress in development. And they serve as a reminder of the organization’s commitment to employee learning, which in turn strengthens employee commitment.”
We could do a part 3, but I think you get it. Training could be (and is most likely) the cure-all that your organization needs to combat disengagement, turnover, lack of commitment and so much more.
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