Tuesday, 6 October 2015

Planning Not To Invest In Employee Training? First Know The Risks Involved!!

As the global economy is going through a struggling phase, the first thing that most of the companies will put aside is their ‘Training and Development’ department (of course, if they have one). The management strategy of cut, slash and burn might look ‘OK’ in the initial stages but can have drastic effects in the coming future.
Training and a scope to grow is one of the most desired Employee Benefits by workforce of all generations; especially, Gen Y employees, who fear of failing or falling behind in this competitive world, value training and learning as the most critical aspect to advance in their career and make more money.

Moreover, after a considerable time period, employee might get bored of the monotony in work and start looking for other opportunities. If they are given proper opportunities to learn and try new things, this may motivate and engage them to give bring in more innovative ideas and better performance.

Thus, employers should not sideline training and development as it is the key factor in engaging employees. Let’s have a look at few of the positive outcomes of skill training.

Enhanced performance and efficiency
– By giving your employees an opportunity to learn new skills will help them understand and fulfill their basic roles and responsibilities in a better way on daily basis. The results will be a boost in employee efficiency, much higher productivity and positive outcomes.

Better employee morale
– Every employee has the zeal to advance in their career and training plays a significant role in fulfilling that goal. Neglecting employee training will leave them in a state of distress and with thinking that they don’t have any future within the organization, at least not in the near future, thereby affecting their commitment towards work, morale and performance levels.

Development of potential leaders – Every individual possess the qualities of becoming a potential leader and with proper training and skills enhancement, this quality can be refined. It is the responsibility of the employer to identify and improve their employees’ qualities through proper support and training.

Staying competitive – When you have a high quality workforce, equipped with all the latest skills and technologies, short-term and long-term organizational goals are no difficult task to achieve. This enables the organization to stay ahead of the curve in this cut-throat market competition.

Much higher return on investment
– Training programs entail considerable investments initially, but if the program targets a specific business need, it is surely to provide rapid returns. Your initial investment will soon be recouped through a rapid increase in efficiency gains or a power-boost in the revenue.

In addition to better productivity and other benefits mentioned above, organizations that emphasize on their employee development tend to make a lasting impression on them and earn their lasting loyalty.

Learning and upgrading skills must start from the day employee joins a company and should become successive as he/she grows within the organization. It is obvious that the returns will not be visible from day-one but the long-term benefits are definitely going to make a difference, something that is worth investing and waiting for.