Staff training for specific purposes and requirements is a vitally important element in any successful business. It offers the workforce the opportunity to learn job-specific skills, enhance their knowledge of the overall operation of the company’s functions, and understand the company’s exclusive goals and the market, economic, and industry conditions related to the business.
Staff training is an extremely powerful motivator to augment job satisfaction, emphatically enhance performance, and reduce employee turnover. In addition, training helps reduce any weak links within the company who rely heavily on others to complete basic work tasks, as such workers have an equal opportunity to learn and improve.
In the Sri Lankan context, while large corporates heavily concentrate on constant training for their staff, small and medium-sized companies largely ignore the importance of this salient requirement. Most of the owners in this sector either do not realise or are unaware of the “benefit-cost ratio” (BCR) that indicates the relationship between the relative costs and benefits linked to their respective businesses.
ROI
Each and every time, the return on investment (ROI) of staff training pays back instantly. Any well-planned training program with company-specific requirements done by an efficient and skilled trainer can prepare the employees to use what they have learnt instantly. The expense of a training program is completely justifiable as it ensures productive workers who can help the company to succeed.
As an experienced business executive and trainer, my observation in the Sri Lankan business arena is that entrepreneurs are most often ignorant of the importance of staff training. They still have not realised that trained workers can create a strong point of difference (POD) in the fiercely competitive market that can effectively counter the opposition. Additionally, trained workers who understand the business can provide a smooth customer experience in all areas of business functions that will ensure repeat patronising.
Profitability depends on productivity. One of the simplest methods for businesses to boost their performance is by providing employee training. Time-consuming chores can be greatly reduced by learning how to use new methods, including technology or tools such as artificial intelligence. Apart from the traditional and customary product knowledge, simplified procedures and processes learnt through training can be additional advantages of training staff in soft skills like communication, time management, team effort, and delegation.
Most often, the employees work in teams. However, depending on a variety of factors and circumstances, these teams may or may not be successful as a group. Teams need complementary skill sets to function cohesively and effectively if they are to succeed.
Finding skill gaps in teams (such as communication and soft or technical skills) can affect each member’s productivity. Employee trust and loyalty can be increased by providing team training in communication techniques, conflict resolution, diversity, and equity, and the amount of time lost due to misunderstandings and conflict can be reduced by providing team training in communication techniques, conflict resolution, diversity, and equity.
Employee engagement is a moving target for the majority of firms. It is a proven fact that effective employee engagement enhances overall performance, both by way of revenue and customer experience. Employee training options present a perfect tool for raising both engagement and profit, as employees who believe they have room to learn and grow at their companies are more likely to be involved enthusiastically and actively in a company’s functions.
Teams are ready to pivot when their members are knowledgeable about the current developments in business and technology. Businesses must change to meet evolving client demands in a continuously and constantly changing environment. Businesses that do not invest in the professional growth of their staff are likely to lag behind rivals who do. Companies with such skilled and trained staff can quickly change directions to offer new goods or services when they have a significant competitive edge.
Unending headache
Employee turnover is an unavoidable and persistent reality throughout the world and also an unending headache for businesses. When people with crucial talent leave a business, a talent gap is created. The impact of such a situation is drastic if the management is not prepared for such occurrences.
Businesses may avoid these disruptions by providing employees with career routes through tailored training. Employers and managers should work together to create these paths, which include distinct benchmarks and goals for skill development and promotion. The career pathing approach not only aids in succession planning but also raises employee commitment to the organisation and their jobs.
Training is a key factor in boosting the sense of security among employees. In a world that is changing rapidly, workers usually become increasingly concerned about the viability of their talents. In fact, a vast majority of sensible workers believe that their lack of modern skills will force them to lose their jobs to new talents. These employees can improve upon their current abilities or transition into a whole new function with the assistance of training opportunities supplied by their employers.
The benefit is mutual in such a scenario, and it can also improve the loyalty (another important factor in enhanced performance) of workers tremendously. Employees are also far more likely to be content and intend to stay for the long run if they feel like they have a future at the company.
Offering training opportunities for your staff displays the company’s commitment to their success and development. Employee morale, productivity, and retention increase when staff members believe that the organisation is committed to their personal and professional development.
When an employer continues to give employees training opportunities, they acquire new skills, enhance their existing ones, and take on more responsibility. When an employee knows you’re willing to invest in their career development, it increases motivation and morale throughout the company.
Every employee is looking forward to career growth. Hence, providing learning for career advancement and promotion is another crucial component of employee training for any firm. A training programme must be a component of every internal career path. A business needs to provide a clear and systematic training strategy for employees looking for progression.
Finally, there are two areas that employers carefully analyse for training needs. They are training existing employees and inducting new employees. Training programs for current workers typically focus on assisting employees in strengthening particular abilities or brushing up on their knowledge.
Morale
This can involve attending seminars on related subjects; learning about the product and services; or developing skills such as good communication, teamwork, and so forth. Offering training current workers boosts morale and can be a wonderful opportunity for a team or department to get to know each other better and support one another more intimately.
It is also critical to provide new recruits with training that is tailored to your company, their position, and their responsibilities.This is referred to by businesses as “orientation for onboarding. New hires are given an introduction to the organisation’s history, mission, and core values. Additionally, students can pick up on corporate policies and processes and organisational structures at the beginning of their respective careers.
Businesses benefit from staff skills development. It begins on day one and progresses as your staff advances. The short-term cost of a training program ensures that you retain skilled and effective employees who will support the success of your business.