The success of an organization tremendously relies on its employees. Effective employee onboarding and training practices can break your organization’s bottom line. It is high time that companies realize this and invest in practical employee training and onboarding platforms and programs.
9 reasons how practical employee training and onboarding can positively impact the organization
- Increased Retention and Low Turnover
- Increased Productivity
- Improved Profitability
- Improved Morale
- Employees’ Self Development
- Promotes a Learning Culture
- Better Work Experience
- Quality Service or Product
- Competitive Advantage
1. Increased Retention and Low Turnover
An organization’s retention and turnover rates are highly indicative of the experience they provide to its employees and how stable the organization is. An effective employee training and development program is crucial to keep your employees satisfied and retain them with the company. A report found that turnover can cost organizations anywhere from 16% to 213% of the lost employee’s salary.
Training must evolve to keep employees up-to-date with the latest technology and trends in the ever-changing business landscape. Providing employees with adequate training gives them the skills they might need in the future to take up more responsibilities. This is great for the employee as well as the organization since the employee gets promotion opportunities, and the organization gets to retain its top talents.
2. Increased Productivity
74% of employees feel they aren’t reaching their full potential at work due to a lack of development opportunities. Effective training is crucial to give employees the confidence and motivation to stay productive at work. Highly skilled employees contribute much more to the overall goals of the company.
When employees are given opportunities to grow and build skills, they feel engaged with their work, increasing productivity. Well-trained employees are much more productive than employees that receive poor training since the latter spend a large part of their workday getting resolutions for queries about their work.
3. Improved Profitability
When you invest in your employees with great training and learning experience, they feel more satisfied with their job, and it positively affects their performance. Your business’s profits and performance are directly linked to people’s efforts. Quality training improves your team’s communication, increases customer satisfaction, and boosts profits.
As you upgrade your employee’s technical and collaborative skills, they directly impact the organization’s bottom line. Your marketing teams get in more leads, sales teams close more deals, and managers lead more efficiently, increasing profits and performance in every aspect of your business.
4. Improved Morale
The pandemic has left employees around the world losing ground and feeling unsupported. Employee morale is at an all-time low since most of the global workforce is working remotely. It is up to the organization to lift employees’ spirits and help them get back in the groove.
Employers can do this by investing in the right employee training program and tools to ensure that their workforce has all the expertise they need to confidently carry out their work. Employees that are trained well feel much better equipped to handle anything that comes their way.
5. Employees’ Self Development
Training provides employees with skills they didn’t have before joining the organization or improves upon their existing skills.
This upskilling and reskilling of your employees can help employees grow, benefiting both the organization and the employees. The organization gets higher-skilled employees to take up more roles and responsibilities, and the employee gets to advance in their career.
Employee development is a proven strategy for an organization’s continual growth, productivity, and ability to retain valuable employees. There is a shortage of skilled employees, and to beat this, organizations can look into hiring for entry-level roles and invest in training programs that advance their personal growth.
6. Promotes a Learning Culture
Organizations need an agile working and learning culture now more than ever. Employees need to quickly adapt to new environments, new protocols, and changing market demands. With effective employee training, this is possible.
When you promote a culture of learning at your organization, employees continuously seek, share, and apply new knowledge and skills to improve individual and organizational performance. This type of agile culture permeates all aspects of organizational structure and produces the best business results.
7. Better Work Experience
The training and onboarding that you provide to your employees define their experience with the organization. Better training and onboarding processes result in a better experience with the company and improve your brand reputation as a whole.
Organizations that are known for providing a great employee experience are highly sought after by potential candidates, helping the company grow by leaps and bounds. It also affects the employee retention rate since having a smooth and ongoing training process keeps employees happy and satisfied with their jobs.
8. Quality Service or Product
Effective employee training and development programs are well known to contribute to increased productivity and engagement. Engaged and productive employees are committed to the organization’s cause and will put in the effort to improve the service or product that the company offers.
This is especially true when employees are trained in problem solving and technical skills. Your workforce is self-sustainable and iteratively improves the quality of your service or product.
9. Competitive Advantage
New businesses are opening up every day, and the world is getting more competitive. Training and development play a huge role in developing a competitive advantage and standing out from the crowd.
In ensuring that your employees constantly progress in technical, communication, and collaborative skills, you ensure that your company gains more value and moves forward with a strong position in the market.