In the current economic environment, many companies find training and development opportunities to be too expensive and decide against paying out. However, corporate training is highly beneficial to both organization and individual employees; the large benefits make the cost and time invested in training truly worthwhile…
Here are 8 ways corporate training could help your business:
1. Increased Performance
74% of employees feel they aren’t reaching their full potential due to a lack of development opportunities. Corporate training addresses weaknesses and strengthens existing talents. Employees who have received sufficient training see improved skills, greater competency, and increased confidence in their abilities. These employees are therefore able to perform better in their job and produce a higher standard of work.
2. Increased Productivity
Companies that invest in corporate training have 37% higher productivity than those that don’t. Employees who are good at their jobs are capable of completing work efficiently and are likely to get more done than those who are struggling. The increased confidence achieved through training also results in a greater sense of enthusiasm and translates directly into increased productivity.
3. Improved Morale & Motivation
There is currently a huge disengagement crisis in the workplace and job satisfaction has hit an all-time low. 1 in 3 people is disengaged at work. Companies who invest in training, create a supportive environment to work in, and show their employees that they are valued. 65% of employees say that training and development positively affect their attitude. Feeling appreciated, helps employees to feel more satisfaction towards their jobs resulting in higher morale and motivation.
4. Increased Employee Retention
40% of employees with poor training leave their job within the first year of employment whereas only 12% of employees who say their company has excellent training opportunities want to leave their job. The provision of corporate training has a direct impact on employee retention and can reduce the costs of recruitment.
5. Better Leadership & Decision Making
There are many different types of corporate training but the training that caters to leaders is particularly beneficial to a business. Leadership training works to improve the skills of managers, and senior-level staff and results in better decision making and informed and intelligent strategies to power the business.
6. Improved Company Reputation – attract top talent
An effective corporate training strategy helps your business to build a good reputation and strong employer brand. Training is often seen as an additional employee benefit and helps to attract top talent to the business. Companies who invest in training and development are attractive to ambitious candidates who seek to improve their skills and progress within their field of work.
7. Increased Innovation & Creativity
Continuous training and upskilling of employees can encourage the circulation of new ideas, collaboration, and creativity and result in increased innovation.
8. Increased Revenue
Companies that invest in training have a 21% higher income per employee. When you consider all of the other benefits that corporate training offers a business, all essentially resulting in increased efficiency, it is not hard to see how these can result in increased revenue.
If you have been convinced by the many benefits of corporate training outlined in this article and would like to start looking at the different training options available to your business, get in touch using the contact form provided by the Teachr team using the details provided. Teachr LMS will help you discover everything you need to know when opting for an LMS for training companies to achieve your business objectives.