If we said to you that there’s one solid way to ensure a skilled, loyal and happy workforce, what would you have in mind? Bonuses? Employee discounts? Team days out?
The answer is far less glamorous: training. We humans have an innate desire to progress, whether it’s intellectually, personally, professionally or even spiritually. Growth is a natural state – and we’re looking at how, and why, you should grow your business by growing your staff.
Upskilling equals job satisfaction and productivity
According to research by IBM, reported in the Huffington Post, a company will lose a staggering 41% of its total workforce within three years, with only 24% of staff remaining in year six.
You’ll have seen and felt the cost of staff turnover, meaning high recruitment fees (i.e. hiring agencies and job adverts etc.), high costs of retraining new recruits and the effects of low productivity.
Ongoing training engenders greater loyalty, improved morale and commitment from staff. Upskilling helps employees become familiar with the company culture, and to feel valued, respected and confident. They’ll work hard, work smarter, and stay with you for longer.
Your customer service will be excellent
Training in customer service, effective selling techniques or customer satisfaction, can lead to increased customer loyalty because of a higher standard of service.
A major benefit of this is repeat purchases from loyal and dedicated customers, who’ll also leave positive ratings for you around the web and boost your reputation.
What’s the best way to train your people?
Ideally, aim for a combination of in-person training along with online training to help employees retain information. While face-to-face training is best for most businesses, online training also gives your team the flexibility to review training material at time when the trainer isn’t around, or even after the training has ended.
Mobile applications are also making waves in training. Most people do everyday things on their mobile, so ongoing mobile training apps enable employees to keep up-to-date. They allow training materials to be updated fairly easily, and allow tram members to get their training done at home, on the commute, or in an environment they feel most comfortable. Fewer distractions and more efficiency is a win-win.
Direct, hands-on training is also invaluable, because team members can practice and apply everything they’ve learned from in a controlled or live. It’s a great confidence booster.
Why it’s worth the money
All of this obviously requires a continual investment of time and money. But it’s necessary, since having a motivated and happy workforce depends largely on continued professional development to help them hit their potential.
As a knock-on effect, you’ve got a great business case for the spend when you see the results over the long term. Like the saying goes: you only get out what you put in.