In today’s corporate world, you can read about the various mission statements that corporations promulgate that describe their vision, philosophies, business goals and the reason for its existence. As part of this mission statement, you will most likely see a comment mentioning that the success and most valuable asset to their organization is the people that they employ.
Most, if not all, leaders of organizations sincerely believe this. They fully understand how impactful employee performance is to the overall success of their mission and goals.
However, more and more studies are indicating a concerning trend. According to one of the latest Gallup polls done, there has been a decrease in employee engagement. That is, the percentage of U.S. workers in 2015 who Gallup considered engaged in their jobs averaged 32%. The majority (50.8%) of employees were “not engaged,” while another 17.2% were “actively disengaged.”
Another long-term research project commissioned by Middlesex University for work Based Learning found that 74% of workers from a 4,300 sample size felt that they weren’t achieving their full potential at work due to a lack of training and development opportunities offered to them.
Unfortunately, the following statistics show just how significant employees value training for their career development:
· Over $500 Billion is lost every year due to employee disengagement
· 76% of employees are looking for career growth opportunities
· 87% of millennials claim that professional development and career growth are very important
· 40% of employees with poor training leave their jobs within the first year
· 74% of employees feel that they are not reaching their full potential
· 72% of employees even think of financially contributing to their own training
· 68% of workers claim training and development is the most essential company policy
· Companies that invest in employee training enjoy 24% higher profit margin versus companies who don’t
Furthermore, according to another survey completed from a Private Industry Council, employees ranked the topic heading “Full Appreciation of Work Being Done” number one. This characteristic focuses on employee training and the path for growth and job performing effectiveness.
There are a variety of reasons contributing to this trend. Some, of course, is out of the employer’s control.
The good news is that some options and choices can make the workplace more appealing that’s actually in an employer’s control. As we know, jobs are more than a source of income. Thus, employers can help create a healthy growth and learning atmosphere by providing training; whether it is in-house or outside of the office environment.
“Job training empowers people to realize their dreams and improve their lives.” -Former US Secretary of Health and Human Services — Sylvia Mathews Burwell
By offering training options to their workforce, organizations will see the following benefits :
Increase in employee performance. Employees that receive the needed training to advance their skill sets will be able to perform better within their responsibilities and increase their overall effectiveness on a day to day basis.
Development of future leaders. As employees gain more skills through training, they become more prepared and confident to tackle added responsibilities and advanced roles within an organization. Supporting their development, from entry-level positions on up to the rest of the organization, is the start of this learning and growing process.
Improved morale. When employees have the opportunity to attend training, they feel that the company invests in them and realizes their worth, which results in an increase in morale which in turn leads to loyalty, trust, and appreciation.
Addressing known weaknesses. Each employee will have their inherent strength and weaknesses. Providing the necessary training to help target shortcomings or needed improvements with employees will help to foster productivity improvements at the individual, group and company levels.
Reduced attrition rate. As the stats above show, professional development and career growth are critical to employees. Thus, the more they develop, improve and increase their skills, the happier they will be at their jobs and company. Thus, reducing the urge to look elsewhere for career development.
I often hear from individuals the need for additional training on software platforms to better perform at their jobs. Some organizations already realize the challenges that their customers have in getting time approved to attend training. So they have decided to offer training classes at any of their remote office locations at no cost.
Meaning that they will not charge a fee to attend a scheduled class being offered and taught by any of their instructors at one of many office locations. Thus, they truly value the investment an individual or team wants to make in learning a skill that can enhance their overall skillset, productivity, and development.
Some take it a step further and offer a complimentary layered certification process for those seeking to test their knowledge and skill levels on what they learned.
To invest in employee training is to make sure that your company is ready to face the ever-changing competitive landscape. A better skilled, dedicated, and robust workforce is better prepared for the changes inevitably to come in the development needed for today and certainly tomorrow.
Thanks for reading :)