By James Michael Chiong
We live in a world where companies have finally recognized that humans are the most important assets that they have. Resources for Humans affirms that “Employees are appreciating assets and as you nurture them, their growth will enable your company’s growth as well.” A talented workforce constantly strives for enrichment and empowerment to find value in their jobs. Recent surveys among organizational development groups, say that more or less 40% of employees leave their current positions within the year because of poor training, and the lack of skills development programs within their companies. Moreover, in a study by Udemy, “46% of employees cite limited opportunities to learn new skills as the top reason why they are bored in their current roles and looking for a change.” Because of this, companies will have to rethink and strengthen their employee engagement strategies and focus on sustainable training and development plans to retain their talented workforce.
A chain reaction happens once people leave companies, and this usually includes the other team members working longer hours to compensate for the work being left behind, resulting in fatigue and decreased morale; and human resources personnel working double time to find replacements. Moreover, according to SHRM, companies need to reconsider the gravity of employee retention strategies, not only because it is costly not to, but also because employee churn affects productivity and it may be more difficult to find replacements with respect to their levels of skill and responsibilities.
Monette Iturralde-Hamlin, TeamAsia’s president and founder, says that TeamAsia Training aims to help organizations who want to take employee engagement and growth further by providing comprehensive workshops to help solve real-life, organizational challenges. “The investment in getting a training partner to provide growth for your employees is a minimal one when compared to the costs of your employees leaving to look for growth elsewhere.”
Training is an Investment
Investing in long-term, sustained training and development programs will not only produce upskilled employees, but it also extends its long-term benefits towards employee retention, culture, branding, and business efficiency.
- Consistent training retains more of your employees. Investing in your employees to learn and grow alongside your business is an employee retention tool. It reduces the number of people poised to find growth elsewhere because your company already offers this opportunity to them.
- Long-term training plans produce a progressive culture. A positive corporate culture is built over time. Establishing a sustained practice of espousing training and development within your organization will embed a mindset of continued growth.
- A culture of continued growth is good for your branding. According to William Arruda’s article in Forbes.com, “building a strong brand requires that all employees feel connected to the corporate brand and understand their role in turning brand aspirations into reality.” A culture of continuous learning and growth positions your brand within the organization as one that promotes this kind of attitude. And your people will become your brand’s ambassadors.
- Engaged employees are efficient, productive employees. Putting all of these benefits together produces an organization that works seamlessly, has positive, go-getter work attitudes, and a deeper sense of responsibility towards the growth of the company. According to Dale Carnegie, “companies whose employees are well engaged [tend] to outperform their competitors by over 200%.”
The Big Picture - Continued Growth
The misconception that most companies have regarding the benefits of training programs is that they should experience them immediately. Moreover, Jason Silberman, in his article in TrainingStation asserts that “employee training is important and worth consideration, time, and investment.” Moreover, Silberman expounds, the benefits of training is seen in the long-term. “It is about continued growth – training that stays with the employees throughout their [employees’] career.”
Companies must look farther, towards the bigger picture of how a sustained training development program benefits the company. Silberman expounds that training benefits entire verticals of businesses - from executives to frontliners. “From post-training day one, it will become a growing process of learning. It may take time to see results from the investment of training sessions, but the long term gains will make a difference.”
From an employee retention strategy to a direction that fosters a more productive workplace, a continuous and sustained training development plan will definitely be a worthwhile investment for your business.
