Investment in trainings – is it worth it?

IC Project , 18 December, 2018

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Business training is a topic which has both its supporters and opponents. It might be caused by different quality of trainings available on the market. In business you can learn from many sources and the knowledge can pertain to many disciplines. But is it really worth investing money for hours on end with a coach, mentor, specialist, teacher or another guru who will help you improve your qualifications and qualifications of your employees? It seems so, but there are exceptions to the rule.

What do the figures say?

Statistics from different sources show that investing money in employees’ development through trainings is quite a sensible idea. Thanks to the trainings, not only is our personnel more experienced, but they also enrichens our enterprise with an aspect having an effect on its value, that is to say knowledge, know how, which allows to introduce various, often innovative, solutions in business. The knowledge our employees possess means competitive edge on the market.

Let’s take a look at statistics. Go-Gulf shows in its infographic, which collects data from several sources, that 40% of employees who are not trained on a regular basis leave the company after the first year of work. 72% of employees even consider covering some of the training costs if only the employer invests in their development. 42% of companies want to increase budget for such trainings each year. 68% of employees think that training is one of the most important things in the company’s policy and 35% add that the trainings have influence on improving the company’s morale. There are two more important statistics. Companies which often send their employees to training have per one employee productivity higher by 37% and income higher by 21% per employee. As you can see – it is worth it.

Properly selected trainings

Courses come in all shapes and sizes. We can send employees to a hard training, that is one teaching them specialist knowledge. During such training, the trainee is to learn skills strictly connected with the job, occupation, the newly-created position, etc. Such trainings are also organised in situations in which it is necessary to change the scope of duties or in the case of promotion. In this type of trainings we include for example IT trainings, management trainings, accounting trainings, sales trainings, marketing trainings and executive trainings. Soft training is the other type of teaching, which focuses on developing individual’s skills. This is about among others assertiveness, resistance to stress, teamwork etc.

The form of teaching can vary as well. Starting with workshops, through conferences, seminars, open and closed trainings, events and the like. When a training is being selected, it is important to adjust it to the expectations and needs of the employees. Some forms do not work well when building project teams and other are useless when we want to teach sellers.

Benefits of trainings

There are 5 main reasons for which it is worth training yourself and your own personnel. These are:

  • Improved qualifications, which translate into higher effectiveness, which, in turn, is associated with greater profits for our business. Teaching the personnel has a positive effect on the perception of our company not only on the inside but also on the outside. The brand is seen as one which invests in people, which cares for its employees etc. In addition, a trained employee who knows their job knows what tools to use and will need less time to familiarise themselves with the demands of their new position, to perform a task etc. A well-trained team is more effective, so the company operates better and achieves better results.
  • Boosted competitive edge of the company. Thanks to a well-skilled team, the company builds the image of a professional brand, which has a specialised and trained team. This is so the main indicator of the competitive position is the competitive potential, which consists of – apart from material resources – state of intangible assets of the enterprise, that is factors connected mainly with the employees’ qualifications. Thus, the source of this advantage will be the employee and their experience.
  • Higher competence and better internal communication. The teams work more harmoniously and there are less tensions in them. This is achieved for instance by joint trainings of superiors and subordinates.
  • Increased engagement and loyalty of the employees, which at the same time decreases staff turnover, which is in turn associated with reduced costs of recruitment and on-boarding of new employees. The employees in whom we do not invest are less loyal and do not feel such attachment to the company as people who take part in trainings and courses and other training events.
  • Boosted morale. If employees know that the management eagerly spends money for trainings and different types of team-building trips involving learning, they are more satisfied and have greater motivation to work.

As you can see, advantages of investing in development and trainings bring very tangible benefits for business. Satisfied and experienced employees are our company’s showcase. Competence and knowledge are their weapons and it is employees who stand on the front line, contacting our clients. If we do not have a trained staff, we will lose with a competitive team that has more knowledge and skills.

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