An investment in knowledge always pays the best interest.
Benjamin Franklin
What is a good case for the benefit of employee training?
It’s common knowledge that attracting and retaining good employees is vital to the health of any ongoing business. Employers need to realize how common it is for employees to leave if they don’t receive the necessary training to do well in their positions. Research shows that a full 40% of employees who don’t receive the necessary job training to become effective will leave their positions within the first year.
Not only that but to keep them long-term, companies must also offer continuing development and opportunities for advancement. Recent studies have shown that roughly two-thirds of the workers surveys stated that they felt workplace training should continue throughout their career, regardless of their seniority. In another recent national survey of over 400 employees spanning three generations (Baby Boomers, Generation X, and Millennials), 70% of the respondents indicated that job-related training and development opportunities influenced their decision to stay at their job. The Millennials had the most significant results, with 87% of them citing access to professional development or career growth opportunities as being very important to their decision of whether to stay or go.
What are current U.S. statistics on training?
According to the US Bureau of Labor statistics, companies with less than 100 employees only averaged 12 minutes of management training every six months. The situation is even worse for companies boasting more than 100 employees. Companies that have 100-500 employees got the worse end of the bargain, putting up with only 6 minutes of management training every six months. It shows that company size has a direct impact on the corporate training their employees receive.
Do employees generally like training?
According to a Gallup survey, only 13% of employees are highly engaged at work while 26% seem utterly detached, like they would rather be anywhere else. Shocked? This can have serious ramifications for the overall productivity of your business. If your company is also facing the challenge of disengaged employees, you could develop credible training and developments to engage them. Study after study shows that workplace training is directly related to employee engagement and retention, and the cost of the actual training pails in comparison to the benefits a company reaps in productivity, engagement and retention.
What is the best way to train employees?
There is no right answer…companies may choose personalized (classroom), online or a combination learning method. According to a 2015 survey, 38% of respondents confide that they are planning to buy a learning management system. Online learning systems and tools, such as training software and E-learning programs come at a close second with 37% respondents voting in its favor. Fast forward to 2018 and we can see these systems and tools everywhere. These online tools and systems have transformed learning altogether as most businesses are harnessing the power of the internet to train their employees. According to the 2015 training industry report, almost one-third of training hours were delivered with a combination of learning methods. Most use webinars and online self-assessment techniques for training purposes. Educators are discovering new methods of delivering holistic, hands-on training experiences, and strive to make it easier for employees to understand and implement the knowledge gained through corporate training.
What are some of the key components to good employee training?
Application of Knowledge Is the Key
This brings us to the next point. According to a 24×7 learning survey, only 12% learners implement what they learn from training that they receive on their jobs. This shows that the training programs are not designed with a practical approach in mind. Only teaching theory without practice can lead to confusion and make it harder for learners to understand the concept. What will be the point of conducting training in the first place if your employees are not benefiting from it?
Make Training Fun
Trainings can be boring right. 33% of employees who attended corporate trainings say that uninspiring content that they have to contend with is the biggest barrier to learning. Make corporate trainings more interesting by incorporating some fun elements such as humor and interesting facts and figures. Keep them interested in cracking a joke every now and then and create an environment that encourages employees to speak up. According to research, 70% of on the job learning occurs informally. It is better to ditch mundane learning methods in favor of more action-oriented models with real-life scenarios. The more comfortable your employees feel, the more they are prone to learn. As the saying goes, “Laughter is the best medicine.”
Access the Learning Needs of Employees
According to research, only 38% managers believe that their learning programs meet the needs of the learner. What this translates to is that 62% managers believe that their learning programs are ineffective in meeting the learning needs of their employees. Assessing the needs of the employees should be the first step towards designing a training program. If the course does not seem pertinent, grant or practical value in real-life challenges, employees will slowly lose their interest in these corporate trainings. Such seminars should be designed with employee learning needs in mind.
Don’t Waste Money on Ineffective Trainings
Did you know how much money is wasted on ineffective trainings? According to statistics, businesses lose $13.5 million each year for every 1000 employees. That’s a lot of money, right. In order to save some of these resources from flushing down the drain, it is important to ensure the effectiveness of corporate trainings by accessing the outcomes. This can only happen if you design corporate trainings with the needs of your audience in mind and make it more interesting for learners. Encourage them to implement what they learn from corporate trainings or the purpose of the whole exercise would be futile.
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