Employee training is a critical component of any organization, and the cost is insignificant when compared to the cost of lost employees, skills, talents, and possibilities. Retention, productivity, products, and your bottom line all benefit from training and improving employee skills.
As technology advances and workplace methods and strategies improve, employers and employees must align their knowledge, skills, values, and abilities to keep up with these changes. One of the best ways to enhance knowledge and skills is through training. Getting employees exposed to relevant and consistent training can help companies improve performance and increase results in the workplace.
“According to a survey conducted by LinkedIn, 94% of employees would stay longer at an organization if there was an investment in Learning & Training.”
But what happens if your organization overlooks the importance and need of employee training, it leads to impacting business performance, affecting team morale, financial turnover and further the organization’s ability to attract and retain good employees.
Unhappy and dissatisfied employee-
Employees that aren’t properly trained are likely to be unhappy, employees who believe their organization invests in them by giving them opportunities to upskill and reskill their skill sets and increase their knowledge are more likely to stay and be productive.
“Untrained Employees = Unhappy Employees”
Unhappy employees are more likely to underperform and make mistakes.
Training the employees could lead to higher productivity, as the employees would know what they are doing and align themselves with the organisational goals, However if the employees are not trained enough may spend a significant amount of time seeking assistance in order to accomplish their jobs, or they may perform activities according to their understanding, which may not be useful or upto the company’s working standard. Further, Employees who have been poorly trained or are lacking skill training are more likely to feel under-appreciated, resulting in lower workplace productivity, loyalty, and engagement.
Monetary and Time loss-
Training an employee helps in saving time and resources. When an employee performs tasks without the required time, he/she is bound to make mistakes and the job must be repeated again, leading to time and monetary wastage. Also if the employee is not trained properly they might deliver a substandard product or service to the customer, affecting the company’s reputation.
“Employee training helps to avoid product waste and protects a company’s reputation with customers.”
Loss of Customers Due to insufficient employee training-
Employees who are not properly trained can pass on the errors in the form of incomplete information or erroneous products. Not having enough knowledge and abilities to give satisfactory customer service could leave customers unsatisfied, additionally it would reflect badly on the organization front not being able to organize, train and manage its people and brand. Competitors can take this as a weak spot and would try to leverage it to their interest by providing the customers with a satisfactory product and Customer service and thus risk you and your organization losing a potential customer.
Increased organisational Expenses and reduced profits-
Employees are more likely to leave an organization within the first year of hiring if they are dissatisfied with the training or lack training, thus leading to again the process of onboarding and wastage of time in hiring a new employee. Providing necessary training would lead to employee retention as they would be more confident and satisfied with their knowledge. Further, if the unskilled or untrained employee delivers or provides incorrect information it would lead to great loss for the company.
It goes without saying that in a dynamic environment where technology is always evolving and new approaches are constantly being found, effective training is essential. Proper training benefits the organization, existing employees, and new recruits alike, as it is a never-ending process. Employees who receive training benefit from a variety of factors, including greater confidence, familiarity with corporate policies and procedures, and particular knowledge of their new function.
Planning to train your employees now is the time to create a learning environment and upskill your workforce. Contact one of the top L & D agencies in India, LearnMaxPro, for any training and consulting purposes in the field of sales, soft skills etc.and Build your workforce upto the market standards.