Written by Benjamin Lee for iqDynamics
It goes without saying that the war for talent is a brutal one. In today’s competitive economy, organizations are constantly striving to get the advantage over their competitors. While plenty has been said about employee engagement as well as improved recruitment process, there has been a tendency to overlook the importance of employee training or upskilling.
Here, we take a look at some of the benefits of investing in a comprehensive employee training program and why it may just hold the key to the future.
Industrialist and founder of the Ford Motor Company, Henry Ford once said; “The only thing worse than training your employees and having them leave is not training them and having them stay.”
Employees who regularly participate in training programs are given the opportunity to develop themselves professionally. From familiarizing themselves to the latest software to the latest product offered by their parent organization, investing in an employee’s personal development allows the organization to gain a significant advantage over their competitors.
This is because, from a performance standpoint, trained employees possess a wider range of skills and a deeper knowledge base which allow them to perform at a much higher level. From sales to accounting and even HR management, employees who regularly receive training will go on to become highly-skilled specialists. By developing the abilities of its workforce, the organization will be able to develop a core of skilled individuals who are able to tackle any issue.
With such a highly trained core of professionals and specialists available, irrelevant and wasteful processes which improves efficiency and slashes costs. On the long-term, the investment made in training employees is offset by improved efficiency and profitability.
However, HR professionals and managers must ensure that the training programs offered are in-line with employee development goals. After all, irrelevant training content is rated as one of the top reasons as to why employees view training as a waste of time.
Recognizing this need, we at IQDynamics have tailor-made our training module to meet the needs of even the most demanding organizations. Our system training module allows employees and managers to work side-by-side in order to develop a training plan which suits the needs of the employee and the organization.
Besides upskilling an organization’s employee, relevant training is a crucial part of employee retention. As stated prior, training allows employees to further improve themselves from a professional sense. By developing new skills and improving their knowledge, employees are able to make themselves much more marketable thus improving their prospects in the near future.
If that is the case, why are some employers so reluctant to provide employees with training?
One of the reasons could be simply fear The fear that time and money invested in training an employee only goes to waste when said employee resigns to pursue better prospects elsewhere. However, what such employers fail to understand is that most of the time, employees resign due to a lack of or poor training opportunities.
Along with this, in the absence of opportunities for further development, skilled and motivated employees often seek employment elsewhere in their search for better opportunities. In a nutshell this means that the costs of investing in an employee are often paid back by the reduced turnover and improved rates of employee retention.
At IQDynamics, we recognize the importance of upskilling one’s employees. With our training module, HR managers can work with their employees to identify key areas of improvement through our Comprehensive Competency Framework which provides them with the opportunity to identify how to further build up their skill sets.
Employee engagement is essentially a strategy undertaken by HR professionals to understand the needs of their employees while ensuring that their goals are aligned with that of the organization.
In order to tackle the subject of employee engagement successfully, HR professionals need to tackle this issue from several angles. One of these angles is ensuring that employees are provided with opportunities for advancement and self-improvement
While training opportunities are crucial for improving employee retention, training is also a very important part of employee engagement. Identifying areas of improvement and providing employees with a tailored training program for improvement lets employees know that their contributions to the organization are valued.
This ensures that employees remain motivated and engaged which allows them to perform at a higher level. Also, this enables organizations to secure a pipeline of talent which streamlines the succession process for the foreseeable future and eliminates the need to recruit talent externally which has the added benefit of providing employees with long-term career progression.
When properly implemented with the help of a well-designed HRM system from IQDynamics, employee training becomes an investment instead of an expense. In a changing world where human capital is an organization’s most crucial asset, the importance of employee training cannot be understated.