Ongoing training empowers employees with knowledge and skills which in turn boost employee performance and satisfaction.
Ongoing training for your workforce is the need of the hour. Business dynamics are changing at an exponential rate and change has become the global norm. Current times make it more important than ever to train your employees regularly.
Today organizations realize the value of employee training and according to Forbes, in 2018 alone companies spent more than $87 billion and this number is increasing at 10% a year.
The benefits of ongoing training are many, you can prepare your workforce to be future-ready, and all set to take on your competition.
There are other benefits as well which we will study in detail in this blog.
1. Increased Retention Rate and Productivity
With workplace becoming increasingly dynamic, companies are adopting new technologies to stay ahead of competition. As a result, employees can face a new challenge that might make them demotivated to continue in an organization.
To make sure they stay with you, you have to facilitate growth opportunities. And that can never happen by simply providing onboarding training. Businesses have to go beyond that and provide regular, corporate training consistently that they can look forward to.
In a study conducted by Glassdoor, on an average a company spends about $4000 to get a new hire and the minimum waiting period is about 24 days which in some cases could go well beyond 52.
So, by providing ongoing training you are not only ensuring that your employees stay productive but you are also increasing the retention rate.
Especially true with Generation Zs and Millennials, who want to be trained regularly to stay ahead of the curve.
2. Job Satisfaction
Struggling with your day-to-day tasks and not loving what you do could make employees frustrated. This will eventually result in poor productivity and ultimately to lack of job satisfaction.
Whatever an employee learns during the onboarding training will not come in handy to them immediately and overtime employees will forget it.
It is noteworthy that due to the forgetting curve employees will forget 70% of what they learn in a month. To counter that, you have to not only enable ongoing training but also On-demand training.
It is essential to incorporate multiple training methods within the organization to enable a work environment where every employee gets an opportunity to bolster their knowledge and skills.
Further, the modern workforce is looking for new opportunities to learn and excel in their careers. If your company can provide exactly that by preparing the workforce with relevant and regular training then your employees will have a satisfying experience.
3. Identify the Strengths and Weaknesses
Ongoing training is an excellent way to identify skill gaps. It is important to know the strength and weaknesses of your employees and regular training sessions provide you with an opportunity to address them and act on them.
You might not know where your employees stand concerning their job preparedness unless you have regular training in place.
You might invest in technology but your employee might face a problem using it. In such scenarios, even though you know the problem exists you may not able to make the right decisions because it becomes difficult to know why and where the problem exists.
Here is where ongoing training comes in and changes the game by helping you identify the issue that employees might be facing while using the new technology.
Moreover, it helps you to know the form of training that is working in favor of your employees and the organization’s growth. Knowing this will help you to keep the training that is working while incorporating the new ones to cover up the weakness.
The collage of all these will ensure that your company keeps its strengths intact while overcoming its weaknesses.
4. Great Motivator
Empowering your employees by training regularly boosts their confidence. By training employees, you can fuel their careers and this play an important role in their professional growth.
As employees learn new things and excel in their job, training them further will motivate them to do even better in their jobs to get an opportunity to learn the latest trends and processes.
This will make your employees efficient and they will play the role of a catalyst in guiding your organization in the right direction.
5. Staying up to date with industry standards
It is always in the best interest of the company to stay updated with the latest best practices and trends that the industry is following.
Business leaders must take initiatives and allow their employees to stay updated. A knowledgeable and up to date workforce can produce great results for your business.
Changing from traditional methods to modern methods could be painstaking but it will reap rewards in the long run. Further, it will ensure that your employees are ahead of the competition and get better out of the newly adopted practices.
6. Better Sales and Superior Service
Sales and Customer Service are crucial to the success of any business in today’s world. They represent the brand value and creates a brand image in front of your customers.
They should not be out of sync with the industrial standards and the technology that the company uses. It is vital to regularly train them and equip them to always put their best foot forward.
The concept of ongoing training is not only limited to traditional ways, but you can also incorporate modern training methods like:-
- In-app training
- Virtual and simulated learning
These training methods will allow your Sales and Customer Service Teams to consume information, knowledge, and skills as per their convenience without changing their schedule.
Using an in-app training platform like Apty effectively will save time and help your employees make the most of their trainings. Not only that it will make your customers opt for your brand for efficient customer support.
7. In-house promotion
Ongoing training creates a capable workforce with an adequate amount of knowledge and skillsets. When your existing employees possess the necessary skills then it becomes easier to promote them rather than looking for a new hire.
The cost per hire varies from $4000 to $7000 for 24 days which could go as high as $50,000 if it takes more time than expected.
The recruit may not be familiar with your company’s culture and way of doing things which will not make them immediately productive even if they are skillful. This also costs heavily for an organization.
Regular training and development is costly but it is not as costly as hiring a new employee. Training an existing employee will give you a better ROI.
8. Employee Satisfaction & Loyalty
The main benefit of ongoing training is that you can create a sense of loyalty by providing them the type of training they really need.
Whether you can organize a session with industry experts, influencers, or facilitate On-demand training for your employees, the idea is to make them better at their jobs and give them a new perspective.
Doing so is no doubt beneficial for your organization but it also makes your employees feel that they are an important asset for the business.
All this amounts to gaining their trust and loyalty which is the dream situation for any successful business.
9. Measure and Analyze
Ongoing training can show unexpected results. Many ongoing training formats like LMS (Learning Management System) and DAP (Digital Adoption Platform) give you valuable insights on how your business processes and training are showing results.
It is important to analyze how your training initiatives are showing results in real-time. With Digital Adoption Platform you can:
- Analyze how the application is being utilized by your employees post the training.
- identify where the employees are struggling within the application and create a microlearning content for the same in pdf, ppt, and video format.
- Reinforce your training with the customized walkthrough that guides your employee from one step to the other.
- Store all the relevant documents, information, links, and videos that your employees might need for training.
Using an Intelligent Digital Adoption Platform you can optimize your training efforts and make it more relevant for your workforce.
Ongoing training plays a huge role in boosting the employee performance and ROI of the organization. It is mutually beneficial and helps everyone to grow together to achieve their respective goals.
Training is not a one-time thing and should certainly never end with the onboarding. Training is an ongoing process and organizations must be proactive enough to update it regularly.